Despite a recent high court ruling instructing insurance brokers to pay out to those businesses who have suffered disruption to their ability to trade during the COVID crisis, many insurance companies are still refusing to meet their obligation – whilst many business owners who are entitled to compensation have failed to put in a claim.
The chief executive of DIB Frank McKenna explained:
“I am disappointed that businesses who have paid their insurance premiums in good faith for years are struggling to get the support they need and are entitled to from their brokers. We have established a partnership with leading legal experts and advisors on the issue of business interruption claims, to work with companies on a no win-no fee basis.
“We have already started working with some of our members in the hospitality sector. A claim north of £6million has been made for one of them.
“But it is not just those in the hospitality industry who will be entitled to compensation. Many other sectors have been impacted by the huge disruption we have experienced during the past twelve months. I would urge anyone who has suffered a loss in their business due to COVID restrictions to contact us immediately. You literally have nothing to lose.”
DIB have teamed up with BIC Management who have specialist solicitors across the country supporting businesses from a diverse range of sectors with business interruption claims.
If you want help with your claim, please email insurance@downtowninbusiness.com quoting BIC CLAIM.
