The insurance industry has faced pressure in light of the fact that the majority of business interruption policies do not cover the fallout from the Covid-19 outbreak. However, one of the most prominent business interruption insurers faces a legal battle that has the potential to change the industry’s status quo.

Hiscox is the fifth largest business interruption insurance provider among UK SMEs, according to GlobalData’s 2019 UK SME Insurance Survey. SMEs account for 99% of all businesses in the UK, making Hiscox one of the largest business interruption insurers among all businesses in terms of the number of policies sold.

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The company is now facing a lawsuit from business owners over policies it sold that stated it would pay out when a business was forced to shut by a government authority following the outbreak of a notifiable disease. The outcome of this case will have global implications for the insurance industry.

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