With millions of employees continuing to work from home, cyber criminals are increasingly aware of ways to penetrate business’ cyber security. Read through our blog to find out some steps you can take to protect yourself and your business from an ever increasing risk, and what insurance may be in place to help you should your business be subject to an attack.
Business Interruption
An update on the Business Interruption court case (Updated 15/01/2021)
The judgment today in the Supreme Court on the FCA’s business interruption test case substantially allowed the FCA’s appeals and dismissed the insurers appeals and could be good news for those businesses whose policy wordings included an unspecified diseases extension.
The judgment brings clarity for many customers which have been waiting to find our if their claims will be paid.
The ABI has indicated that: “Customers who have made claims that are affected by the test case will be contacted by their insurer to discuss what the judgment means for their claim. All valid claims will be settled as soon as possible and in many cases the process of settling claims has begun.”
The judgment is detailed and could have long ranging impacts so we are studying the detail and taking some advice on what this means for our clients. We will of course, issue further information and guidance about what the ruling means for you as well as managing pandemic risk in the coming weeks.
You can read the detailed judgement of the Supreme Court here and the summary by the FCA here.
Our team is available should you want to discuss anything arising from this judgment. You can contact Newport on 01952 812380 or Stafford on 01785 251790