coronavirus business interruption News

UK Pubs Group Sues Zurich, Liberty Mutual, MS Amlin for $1.2B Over COVID BI Losses

Britain’s biggest pubs group Stonegate, which is suing Zurich Insurance and two peers for 1 billion pounds ($1.2 billion) over lockdown losses, battled the COVID-19 pandemic “day by day, venue by venue,” a London trial heard on Monday. Ben Lynch, …

UK Business Closures Jump 14% as Pandemic Takes Brutal Toll on Small Firms

Business closures in the UK jumped by 14% from a year ago in the fourth quarter as the coronavirus pandemic took a brutal toll. Almost every industrial group saw the number of closures rise, with the transport and storage sector …

Owners of High-End London Restaurants Sue AXA Over Failure to Pay COVID Claims

The owners of high-end London restaurants The Wolseley and The Delaunay sued AXA Insurance UK Plc for as much as 4 million pounds ($5.4 million) over its failure to pay out on claims linked to the coronavirus lockdowns. Lawyers for …

UK Hospitality Groups Are Back in Court With Insurers Over Lockdown Losses

Some of the world’s biggest insurers are bracing as a second wave of multi-million-pound lawsuits, brought by struggling British pubs, restaurants and bakery chains over lockdown losses, starts hitting London’s courts next week. Zurich, MS Amlin, Liberty Mutual, Allianz and …

London Turns Into Ghost Town as UK Faces Record-Breaking Wave of COVID Infections

The owner of Parlez, a pub and restaurant in south London, hoped that sales this Christmas would have bounced back fully from last winter’s COVID-19 lockdown. Instead, every one of this week’s group reservations canceled their bookings. The UK is …

As COVID Spread, European P/C Insurers Took Hits but Remained Resilient: AM Best

European property/casualty insurers faced a dip in total average gross written premium and after-tax profit in 2020, but their regulatory solvency ratios remained strong. Pandemic factors generally played a role in both elements, according to a new AM Best market …

UK Baker Greggs Files $137M Claim Against Zurich Over COVID-19 Payout

UK baker Greggs Plc filed a $137 million (£100 million) legal claim against Switzerland’s Zurich Insurance Group in a disagreement over a pandemic-related insurance payout, according to a report in the Sunday Times. The chain claims it is entitled to …

S. Africa Insurer Santam Loses Appeal in COVID-19 Business Income Case With Hotelier

JOHANNESBURG – South Africa’s Supreme Court of Appeal has ruled Santam is liable to cover the impact of COVID-19 restrictions on hotel group Ma-Afrika for 18 months, rejecting the insurer’s request for a shorter time frame on the claim, Santam …

UK COVID-19 Business Insurance Payouts Top One Billion Pounds

Small companies in Britain, which demanded that their insurers cover claims for losses accrued during the COVID-19 pandemic, have received more than one billion pounds ($1.4 billion) in full and interim business interruption payouts to date. Businesses ranging from restaurants …

Insurer Lessons From UK Court Ruling on Business Interruption: Put Customers First

COVID-19 has led to the disruption of millions of businesses around the UK, particularly for SMEs who have been beset by an average of £130,000 in late payments. However, the Supreme Court ruling in January provided business owners with much …