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Delays in business interruption insurance pay outs 'shocking'

Posted on 29 March 2021

Partner Richard Leedham has described Hiscox's lack of speed in paying out business interruption insurance policyholders as 'shocking' to the BBC.

Richard, who represented the Hiscox Action Group during the FCA test case which resulted in a Supreme Court victory for policyholders, said that data from the Financial Conduct Authority suggested that Hiscox was not moving very quickly.  

New data from the FCA shows that five weeks after the Supreme Court judgement was issued on 15 January 10,000 policyholders across multiple insurance companies have received some money. However, more than 50,000 are still waiting. By 3 March Hiscox specifically had only handed money to 151 of its customers.

Read the full article on BBC News here.

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