By John Smith • 15 January 2021 • 13:38
As one door closes
THOUSANDS of small businesses in the UK will receive compensation from their insurance companies to covers losses incurred during the first national lockdown, following a recent court ruling.
It was a test case put together by the Financial Conduct Authority (FCA) with the agreement of some insurance companies and small business protection groups.
The Supreme Court ruled that small firms should receive payments under business interruption insurance policies which could now cost the insurers millions of pounds and form a precedence for future claims.
Thank you for taking the time to read this news article “Relief for many small businesses after UK court ruling on insurance pay outs”.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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