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.