Agents waiting on business interruption claims will hear court’s decision this week

Agents waiting on business interruption claims will hear court’s decision this week

first_imgHome » News » Agents waiting on business interruption claims will hear court’s decision this week previous nextRegulation & LawAgents waiting on business interruption claims will hear court’s decision this weekThousands of agents who insured with Hiscox are awaiting the Supreme Court’s judgement, which will be handed down on Friday 15th January at 9.45am.Nigel Lewis13th January 202102,554 Views The thousands of agents who took out business interruption insurance with Hiscox which, they had hoped, would cover them following the arrival of the Covid pandemic are to get legal clarity next week on the issue, the Supreme Court has announced.On Friday (15th January) the court will deliver its judgement which follows seven months of legal arguments over whether ‘Covid clauses’ within business interruption policies taken out by estate agents with Hiscox can be honoured or not.The judgement will affect many insurance firms and businesses but concerns Hiscox because it has such a large market share of estate agency business insurance policies, partly because it has been a Propertymark-approved industry supplier for some time.The legal arguments are complex, but boil down to whether the policies involved – which were often sold to agents are offering business interruption insurance – included ‘disease clauses’ and ‘prevention of access clauses’ or, in some cases, both.Decision appealedHiscox is one of eight insurers involved who appealed a decision in the High Court last September that there could be cover for some of Hiscox’s policyholders in certain circumstances.The insurer says each claim will be different and that, although it has processed some claims, it is waiting for the outcome of the Supreme Court decision, which is due on Friday.This is likely to outline which agents can proceed with claims and payment, and which ones cannot.Whether a policy provides cover for business insurance related to Covid will depend on a number of factors, including the policy’s wording.Read our interview with one of the agents caught up in case.Agents can watch the 15-minute judgement via this link.Supreme Court ruling hiscox HIscox Business interruption insurance business insurance January 13, 2021Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img

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