FREQUENTLY ASKED QUESTIONS AT BII CLAIMS
On Friday 15 January, the Supreme Court handed down their judgment on the High Court test case
brought by the Financial Conduct Authority (FCA), regarding business interruption insurance claims
and COVID-19. As there were only 8 insurers and 21 sample policy wordings this is unfortunately
only affects a minority of businesses. The majority of insurance companies continue to dispute the
test case applies to their policy wording and therefor there is still a hard fight to be had with
insurance companies who continue to deny liability.
The court case examined only a very small cross-section of commercial insurance policies.
Depending on your particular policy wording the policy may remain unaffected by the Supreme Court’s decision. This does not mean your claim is not valid and we recommend you provide us with your insurance schedule and policy wording to review. There will need to fight your insurance company for you but will do so on a no win no fee basis.
Insurance companies have various versions of an insurance policy they provide. Each policy has different wording so despite your insurance company possibly being party to the test case, your policy wording may not have been included. Your insurance company in this instance will argue the judgment does not apply. This does not mean your claim is not valid and we recommend you provide us with your insurance schedule and policy wording to review. We will need to fight your insurance company for you but will do so on a no win no fee basis.
Unfortunately, we are seeing this tactic being used by insurance companies on valid claims. It is an unfair tactic the insurance companies decide to take to attempt to avoid paying under the policy.
This does not mean your claim is not valid and we recommend you instruct us to provide our expert advice and representation on a no win no fee basis.
No. We recommend we are instructed as soon as possible in order to protect your position and potential claim. If you do not follow the correct claims procedure, then your insurance company are likely to deny the claim on a technicality for late notification of the claim.
Should you be experiencing solvency issues then we also recommend our urgent instruction as insurers are able to deny the claim under terms of the policy regarding the solvency of the business.
Of course, however, insurers are dealing with an unprecedented number of claims and are denying the vast majority of policy wordings. We make sure you have a valid case and present the evidence and loss correctly. This ensures your claim is processed quickly and you achieve the maximum potential damages your policy allows.
Many of our clients have sought the assistance of the Financial Ombudsman Service to no avail. The Financial Ombudsman Service are not legally trained and do not have the same powers that the Court has.
We ensure your claim is presented and dealt with in an expedited and efficient manner on a no win no fee basis.
This is something we have experienced and successfully challenged for a number of clients. Unfortunately, insurance companies will always seek to offer you a low settlement. Without our expertise, it is unlikely you will achieve the maximum potential settlement you are entitled to.
Most insurers have moved to exclude any potential COVID-19 related cover, particularly in their property and business interruption wordings, since approximately April / May 2020. Depending on when your policy falls due for renewal, relevant exclusions are likely to be in place already.
This, however, does not stop you from claiming under your older policy that was in force at the start of
In the majority of cases, yes. If you have risk assessed your business and consider it is unreasonable to remain open at the risk of your employees and/or customers then you are entitled to claim. Furthermore, in some cases you may incur more losses in remaining open but with little custom than if you were to close your business. By doing so you are mitigating your loss.
We are specialists. This is a niche and specialist area of law. You are instructing a highly regarded litigation solicitors who are working with a team of leading barristers, including a QC and part-time Judge. We are assisting hundreds of clients with a case against their insurance company. We are fighting most insurance companies within the UK and therefore have experience of all arguments on all types of cases. We appreciate this will be new and confusing to you and that is why we are here to hold your hand through the process. We are ahead of the curve of other firms, having been one of the first firms in the UK dealing with these claims.
Insurers are declining to indemnify without any reasonable justification. In many of the cases we have been instructed, the decisions made by them are wrong. They are not paying business interruption claims where the policy in question indicates they should be. If we consider you have a case, then we recommend you challenge their decision.
We give you the option to either privately fund this or we are offering funding on a “no win no fee” basis. Most clients are instructing us via the latter, where you pay a £500 +VAT fee up front for us to review your chances of success. If we feel that you are entitled to make a claim, we will offer to represent you on a no win no fee basis where we would be entitled to take a percentage of any damages recovered on your behalf. Please note before going to Court we would obtain After The Event (ATE) Insurance and/or Third Party Litigation Funding which would cover both your own costs and the opponent’s costs (including any shortfalls). In any case, we will seek to recover your legal costs from the insurance company.
All reasonable losses your business has suffered because of COVID-19, subject to the terms and limit of your policy. We will send you a simple questionnaire to complete to assist you when you instruct us to act for you.
We can review your insurance policy and schedule to consider the merits of your case. There is a charge of £500 +VAT for this. Then, if we consider you have a case then we are prepared to act on a no win no fee basis. We have found the majority of decisions by insurance companies / brokers in denying a claim have been wrong.
Leave this to us. Please send a copy of your insurance schedule and insurance policy wording and we can check this for an initial fee of £500 +VAT. If you do not have a copy then you can ask your insurance broker / insurance company to send you an electronic version to send to us.
Please contact your insurance broker / company and ask them for electronic copies of your insurance schedule and policy wording. As soon as you receive these, we can review these at a cost of £500 +VAT.
We will review your insurance policy and schedule to consider the merits of your case. If we consider you have a case then we are prepared to act on a no win no fee basis. Depending on the facts of the case it does not matter if COVID-19 did not exist or is not within your insurance policy.
There is a non-refundable assessment fee of £500 +VAT and if we consider your claim has prospects of success will offer to act for you on a no win no fee basis.