A London street is unusually deserted due to a coronavirus lockdown back in March.
The country’s financial watchdog successfully appealed on behalf of the companies, arguing they should be able to claim for the impact of the first UK lockdown last year.“It is estimated that, in addition to the particular policies chosen for the test case, some 700 types of policies across over 60 different insurers and 370,000 policyholders could potentially be affected by the outcome of this litigation,” Judge Nicholas Hamblen said Friday.
“As we have recognised from the start of this case, tens of thousands of small firms and potentially hundreds of thousands of jobs are relying on this,” he added.“This is a landmark victory for a small group of businesses who took on a huge insurance player and have been fully vindicated,” said Richard Leedham of law firm Mishcon de Reya which represented HAG.
“This will be a lifeline for tens of thousands of hairdressers, bars, restaurants and other small businesses that did the right thing and closed their doors to protect the health of the nation.”
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