Does new ruling entitle you to make a business interruption insurance claim?

Chris Ross, Managing Partner of McKees and Founder of the SME Support Forum said: “Businesses across the country remain shut and face mounting losses affecting not just cash flow, but their survival. And with restaurants, bars, cafes, hairdressers and many other businesses in the retail and hospitality sectors likely to remain closed for the weeks, and possibly months ahead, it is important that they secure every bit of financial relief available.

“Around 370,000 businesses that have business interruption cover on their policies may now be able to claim. We have been working with clients to review their policy documentation to help guide them on the potential success of a business interruption claim and would encourage all businesses to do the same as they may get a much-needed payment at this critical time.”

McKees has listed the areas to be considered when checking if your business is in a position to make a claim:

Has your business been affected by closure due to the pandemic? Has your claim for the forced closure of your business previously been rejected or are you unsure if your business has cover at all?

“Through the SME Support Forum, we are currently helping local companies triage their business insurance policies to review their documentation and provide information on the potential success of a business interruption claim. We are inviting the owners of SME businesses who would like our guidance at this time, to get in touch and our team will provide support in relation to what is required to progress your claim,” Chris added.

For further information, email [email protected] or 028 9023 2303.

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