Loss Claims: Business Interruption Insurance and Covid-19

There are a number of class actions already started, In Canada and elsewhere, for denial by insurers of Covid-19 claims for business interruption insurance loss.

Newly issued, the Central Bank of Ireland issued a document, “Covid-19 and Business Interruption Insurance – Supervisory Framework“.

The OECD (Organization for Economic Co-operation and Development) has also issued a paper entitled, “Responding to the Covid-19 and pandemic protection gap in insurance“.

The big test case, at this point, is the United Kingdom’s Financial Conduct Authority (FCA) which brought forward a case to the High Court in July, 2020. A decision is expected on September 15, 2020.

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