28 Jan 2021
Following a "leapfrog" appeal, the Supreme Court handed down a landmark judgment on 15 January 2021 on how non-damage business interruption insurance (BI) policies should respond to claims arising out of the COVID-19 pandemic. The judgment represents a significant victory for insureds: BI cover is available under most of the policies considered. It is important to flag, however, that most SMEs holding traditional BI policies which respond to claims arising out of physical loss or physical damage will not benefit from this judgment. We consider the implications of the judgment and what happens next.