The U.K. markets watchdog brought the case after small businesses struggled to get compensation from insurers for losses suffered during lockdown. “Insurers and regulators around the world will be looking at this case," said Bloomberg Intelligence analyst Sarah Jane Mahmud. The London case is one of thousands of legal battles around the world centered on business-interruption policies that insurers contend don’t cover pandemics. In France, AXA SA agreed to cover losses sustained by several hundred restaurants after losing a court case brought by one owner. “It’s therefore realistic to expect a slew of hard-fought disputes with insurers and a continuing period of uncertainty for policyholders."

Source: Mint September 12, 2020 00:11 UTC