The UKHospitalit's CEO has commented on the news that the Supreme Court has found in favour of small firms regarding business interruption insurance claims.
Kate Nicholls (pictured) said, “Obviously, we still need to pore over the details, but, at first glance, this looks like very positive news. Businesses took out policies in good faith and it is right that insurers stick to these agreements and honour claims.
“Should this result in pay-outs to policy holders – a point which is still not clear at present - this could provide an additional lifeline that many businesses desperately need. It could be the difference between keeping staff members on or being forced to let them go; it could mean the survival of a business that was previously staring collapse in the face.
“I would like to thank Taylor Wessing for all their hard work. We have been pushing hard for a positive resolution, and the legal insight that Taylor Wessing has provided to hospitality operators has been immense.'
Nicholls concluded, 'Hopefully, this outcome will give many small businesses in the hospitality sector peace of mind and possibly some financial support they need to begin rebuilding.”