The insurer Hiscox has agreed a settlement with a group of about 400 companies over business interruption losses suffered as a result of lockdowns during the Covid-19 crisis. Thousands of businesses tried to make claims with insurance companies at the start of the pandemic in 2020 but many refused to pay out. However, a test… Continue reading Insurer Hiscox Agrees to Settlement with Action Group Over COVID Losses
Tag: COVID BI Claims
Hiscox Tops List of Insurers Facing COVID Business Interruption Claims
Hiscox faces paying the out on the largest number of business interruption claims, according to data compiled by the Financial Conduct Authority (FCA). Hiscox has accepted 6,692 business interruption claims for Covid-19 losses and faces making a decision on whether another 3,122 pending claims are valid, data published by the FCA today shows. The insurance… Continue reading Hiscox Tops List of Insurers Facing COVID Business Interruption Claims
Cincinnati Financial to Appeal Judge’s Decision in North Carolina Restaurant BI Case
A North Carolina judge has ruled that Cincinnati Financial is liable to pay out on business interruption (BI) claims filed by a group of restaurants that were forced to shut due to COVID-19. In a landmark decision, the judge said that the virus caused a “physical loss” to the businesses, despite not causing physical alteration… Continue reading Cincinnati Financial to Appeal Judge’s Decision in North Carolina Restaurant BI Case