COVID Business Interruption: Claims Opportunities

There are new claims opportunities for venues who had an ‘at the premises’ business interruption policy in March 2020, even if your claim was previously declined.

Whilst it may seem like a distant memory to many, the impacts of COVID-19, lockdowns and the subsequent impact on the night-time economy are still being felt 5 years down the line.

Venues struggled with the loss of earnings during that period, along with piling costs from COVID-19 loans and changing consumer behaviour affecting spending habits.

At NDML, we worked closely alongside the NTIA, FCA and other industry bodies throughout the impact of the pandemic to help lobby insurers and mount legal challenges to ensure venues got the proper payouts they deserved. We were successful in securing millions of pounds of business interruption payouts for our clients over the last five years.

Whilst many venues lost out on payouts due to complicated policy wordings, and avoidance from insurers, legal battles have been continuing and we have been keeping a close eye on new developments. This has led to a new ruling which gives the potential for venues across the UK to access claims settlements that had previously been declined.

What does this mean for your venue?

Following a recent ruling in the Court of Appeal it has been confirmed that venues with Business Interruption policies in which cover for COVID-19 was restricted to the presence of the disease ‘at the premises’ could potentially submit a claim to their insurers. It would need to be proven that COVID-19 was indeed on the premises in the period immediately prior to lockdown.

As such, there may be a number of businesses who are now able to revisit a claim for losses sustained during the pandemic, subject to policy conditions and the aforementioned evidence of COVID-19 being provided.

At NDML, we were at the forefront of the legal process in 2020 which saw a large tranche of hospitality businesses achieve settlements for Business Interruption losses in the face of significant insurer opposition. NDML has years of experience of processing cases to a successful conclusion for those establishments that have valid claims.

What do you need to do?

As such, if you believe that your Business Interruption insurance policy covering March 2020 was written on an ‘at the premises’ basis, and you feel confident in being able to prove the manifestation of COVID-19 at your venue in the period immediately preceding lockdown, we may be able to assist in reviewing and managing your claim.

Don’t fall for so-called ‘professional claims companies’!

Many companies are offering to take on your case and handle a claim on your behalf, but in these instances, these solicitors often are taking significant proportions of any claims settlements you receive, reducing the funds coming back into your business in order to boost their own profits. Because of our experience in handling these claims, we are able to offer this service at a much lower cost than these ‘claims specialists’, meaning your venue will retain the vast majority of any settlement.

If you think you may be eligible for a claim, please contact us here, and one of our specialist claims handlers will consider your case further and provide their advice accordingly.

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