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UK Supreme Court rules insurers must compensate firms over lockdown losses

UK Supreme Court rules insurers must compensate firms over lockdown losses

Britain’s Supreme Court ruled Friday that insurers must compensate small businesses forced into last year’s initial coronavirus lockdown, potentially a total payout of 1.2 billion ($1.6 billion, 1.3 billion euros)

London, (APP – UrduPoint / Pakistan Point News – 15th Jan, 2021 ) :Britain’s Supreme Court ruled Friday that insurers must compensate small businesses forced into last year’s initial coronavirus lockdown, potentially a total payout of 1.2 billion ($1.

6 billion, 1.3 billion Euros).

The country’s financial watchdog successfully appealed on behalf of the companies, arguing that companies should be able to claim for the impact of last year’s first Covid-19 lockdown which ran from March to June.

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