Force insurance Companies to honour claims under Business Interruption clause.

Rejected 17 signatures

What the petition asks

Make Business Insurers accept and payout for claims for COVID-19 under the business interruption clause: using semantics to wriggle out of their commitments leading small businesses (that have had to close under government policy for 8 months out of 12) to face ruin is despicable and unethical.

Business insurers have happily taken premiums for Business Interruption and are now getting away with using small print to get out of honouring policies. Closing businesses for 8 out of 12 months means business has indeed been interrupted and stating that as COVID19 is a new disease and not listed on policies is beyond repugnant.

Why it was rejected

It asked for something that is not the responsibility of the UK Government or Parliament.

Decisions about paying out under an insurance policy is a matter for the insurance provider, not the Government or House of Commons. If a policy holder believes an insurance provider has made an incorrect decision, they can challenge this by complaining or taking legal action.

The Financial Conduct Authority has published advice and guidance for people with business interruption insurance, which you might find helpful: https://www.fca.org.uk/firms/business-interruption-insurance

Timeline

8 Mar 2021	Petition opened for signatures
15 Mar 2021	Rejected by the Petitions Committee

Key facts

Signatures 17

Status Rejected

Rejected 15 Mar 2021

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