The Telegraph have reported on the news that the Hiscox Action Group have launched a £52 million claim against Hiscox Insurance for unpaid business interruption claims.
Hiscox had previously told some policyholders that they would be covered for COVID-19 related closures, only to renege on this after 23 March.
Mishcon de Reya wrote to Hiscox on behalf of 397 Hiscox Action Group members, saying that it intends to seek payments on £52 million of unpaid business interruption claims plus "additional claims and costs" caused by Hiscox's unreasonable delay in settling these claims.
Simon Ager, a climbing centre boss and member of the action group, said: “Our claim is for both the original sums insured and the additional costs incurred because Hiscox has dragged its feet. This makes it very likely that the eventual claim will be much higher than the initial £52 million figure.”
Richard Leedham, Dispute Resolution Partner said: “We have written to Hiscox Insurance outlining our case and proposing an expedited arbitration process if they do not accept our claim. This will involve a single arbitrator and a series of test cases to determine both the responsiveness of these policies and the quantum involved”.
Read the full article here.