COVID-19 BI claims – the Supreme Court has today confirmed that furlough deductions received by businesses during the #COVID-19 pandemic must be deducted from lost revenue when calculating the amount payable as indemnity by insurers.
The ruling also provides further analysis on causation and construction of indemnity policies, as well as addressing subrogation.
Businesses that have entered standstills to investigate COVID-19 business interruption claims will need to revisit policy wording, and quantum, to assess the impact of this ruling on their claim, and importantly whether case strategy remains commercial. If you need assistance with your claim, please get in touch.