The Supreme Court ruled today that insurers must pay out on business interruption policies.
Ellora MacPherson, Harbour’s Chief Investment Officer comments:
“Congratulations to Mishcon de Reya LLP and the Hiscox Action Group on today’s judgment from the Supreme Court. As the FCA won their appeal on the QBE policies in issue, this opens the way for the Hospitality Insurance Group Action (HIGA), also funded by Harbour and being run by Mishcon, to proceed.
It is a well-deserved result from an incredible amount of hard work by everyone involved, including Harbour’s Stephen O’Dowd and Oliver Way who I would like to congratulate for their dedication to moving this case forward.
After such a long and difficult process, this is a really fantastic result for those businesses seriously affected by COVID-19 related lockdowns. We hope that today’s judgment mitigates any further distress for those businesses affected.”
