Earlier last year, six insurers who had appealed an earlier High Court ruling, had their wordings tested by the FCA to see if they did provide cover for losses stemming from the first COVID lockdown. The Supreme Court ruled that they did, which is great news for the businesses affected.
This means some insurers are being ordered to pay out because most insurers did not specifically exclude pandemics. Instead, they relied on their coverage clauses not to provide cover. Depending on how these insurers worded these clauses, they could inadvertently provide cover by accident and that is what the Supreme Court has adjudged certain types of wordings to have done.
We recommend doing the following to see if you are affected by this ruling:
- Check to see if your insurance policy contained one of the extensions tested in the Supreme Court (a notifiable disease extension or non-damage inability to attend extension).
- If it does: Check the relevant policy area of your wording. Does cover just apply if COVID-19 appears on the premises, in the vicinity of your premises or in a specified area around your premises? Are you able to demonstrate that COVID-19 appeared in the relevant policy area of your policy? If you are:
- Submit a claim to your insurer if you have not already done so, if you have already submitted a claim which has been turned down due to the arguments ruled against in the Supreme Court then write to your insurer and request that your claim be revisited.
- If you are unhappy with your insurers response and believe it to contradict the Supreme Court ruling, submit a formal complaint to your insurer.
- Finally, if you are still unhappy with your insurers response following a formal complaint and your annual turnover is of less than £6.5 million and either a balance sheet total of less than £5 million or fewer than 50 employees, then you can refer the matter to the Financial Ombudsman Service to intervene.
Listen to the latest episode of Skiddle’s music industry podcast, The Guest List!
Skiddle’s Angie Bhandal hosts our new episode of the Guest List podcast and talks to Vick Bain, creator of the F-List, a directory of over 5000 female musicians for festival bookers to utilise and encourage diversity in the music industry.
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How do you create a successful Zoom party?
If there’s anything that COVID has taught us, it’s how to think on our feet and adapt. The folks at Skiddle have certainly learned how to do so, and we’re sure as a promoter you’ve had to as well. Even though it’s been a difficult year for our industry, one silver lining has to be all the inventive events we’ve seen come out of this situation. These include events such as drive-in cinemas, and now a Zoom Dance party! Check out our interview with the creator of Zoom Dance on how to get started with online events.
Skiddle is currently the UK’s biggest What’s On guide, providing a free facility for event promoters across the UK to list their events online and sell tickets through our independent ticketing service. We currently work with over 35,000 UK and European promoters, at over 30,000 venues. We specialise in helping events through that critical growing phase by providing the marketing and technology support that you need. Start listing your events today!