Tens of thousands of small businesses are set to receive insurance payouts covering their 2020 losses from the first national lockdown.
The Supreme Court ruling has found largely in favour of small firms receiving payments from business interruption insurance policies.
Many businesses with Insurance cover were astonished last year to find that their insurance would not pay out in the pandemic, especially for policies relating to Business Interruption cover.
This new ruling overturns that and for some businesses it could provide a lifeline, allowing them to trade beyond the coronavirus crisis.
Payouts are expected to be in hundreds of millions of pounds.
If you are a business owner, especially if you had Business Interruption cover, it’s worth re-checking again to see if you’ll be due anything.
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