March 2020 saw the UK Government introduce a series of measures to prevent the spread of Covid-19, including a national lockdown announced on 23rd March 2020. Covid-19 and these measures have had a catastrophic impact on the profits of so many businesses.
For many they would have expected to be able to recover these losses through their business interruption insurance.
However, many insurers refused to meet claims, leading to the Financial Conduct Authority (“FCA”) instituting proceedings.