Coronavirus (COVID-19) business interruption insurance

Coronavirus (COVID-19)—business interruption insurance

As the government mandated lockdown drew on, businesses reliant on customers or staff being physically present at their premises sustained mounting business interruption losses. Support from the government in the form of furlough payments and business rates relief may have helped mitigate such losses but most business that had to close nevertheless realised an often very significant loss of revenue.

Many such businesses found themselves uninsured. This is because property insurance policies with cover for business interruption losses typically require such losses to result from insured damage to property. Some businesses, however, had purchased property and business interruption insurance with additional extensions to insure against business interruption losses arising from other