Supreme Court, Insurers must pay small firms for Covid lockdown losses

[Barry]

I'm sure you've seen NFU Mutual's ads with the "we will not quibble" guarantee. My mate whose dad was a Cambridgeshire farmer so naturally used them for the farm, swears by them.

And with good cause. My wife briefly worked at their offices in Northamptonshire.
There was a rather iffy claim came in and she questioned the credibility of it. She was told, "They pay good money for these policies, just pay it out".
It was the third time their cattle had been struck by lightning in as many years.

[johnofgwent]

I love it when shyster insurance companies are forced to pay out.
Reminds me of an American film about a medical insurance case, which name escapes me at the moment.

What winds me up is a major player in this, Hiscox, was some years back known to be anything but.


I'm sure you've seen NFU Mutual's ads with the "we will not quibble" guarantee. My mate whose dad was a Cambridgeshire farmer so naturally used them for the farm, swears by them.


Hiscox insured me - or rather the ltdco and its kit and the office and the PII - when I was freelancing. Yes like any other business we had reason to make a few claims over the years (not the PII kind thank god) and they paid up.


Had anyone asked my opinion up to about a week ago I would have loudly preached their name as an outfit that were not cheap but who took the time to put together what you wanted and spell out what you were buying and paying up if you had to claim.


The very opposite of the stunts played now.

I am gutted to see them playing the manufacturers standard spec gambit.

(Back in the bad old days when Maggie was privatising anything in sight a bunch of right spivs started offering dirt cheap car insurance out of Gibraltar. All went well until you made a claim where you would find your furry dice, go faster stripes or Jesus Saves (but the devil gets it in the net on the rebound) bumper sticker were "Alterations from the manufacturers standard specification which you failed to notify the company of, so your insurance was void".

[patman post]

Good news, if probably too late for some. Wonder what'll happen to premiums from now on...

[Barry]

I love it when shyster insurance companies are forced to pay out.
Reminds me of an American film about a medical insurance case, which name escapes me at the moment.

[papasmurf]

I was not expecting this:-

More at link:-

https://www.bbc.co.uk/news/business-55661702

Insurers must pay small firms for Covid lockdown losses
By Kevin Peachey
Personal finance correspondent

Published8 minutes ago

Tens of thousands of small businesses are set to receive insurance payouts covering losses from the first national lockdown, following a court ruling.

The Supreme Court found in favour of small firms receiving payments from business interruption insurance policies.

For some businesses it could provide a lifeline, allowing them to trade beyond the coronavirus crisis.

The ruling could cost the insurance sector hundreds of millions of pounds.

One of the insurers set to make significant payouts is Hiscox, which was challenged by 30,000 policyholders as part of the case.

Richard Leedham, who represented the Hiscox Action Group - on behalf of small businesses, said: "This is a landmark victory for a small group of businesses who took on a huge insurance player and have been fully vindicated.