Finucane welcomes High Court insurance ruling
Sinn Féin MP John Finucane has welcomed the High Court ruling in London today favouring business insurance policyholders.
The North Belfast MP said:
“The Financial Conduct Authority took forward a test case to resolve the lack of clarity and action by insurers on claims made by policyholders due to the devastating impact of the covid19 pandemic on their business.
“I welcome that the High Court has today ruled in favour of policyholders and for the urgent need for insurers to provide clarity.
“The covid19 pandemic has had a detrimental impact on many businesses across the North, with our small and medium businesses having been particularly impacted by the pandemic.
“As opposed to fulfilling their obligations as part of insurance policies, insurers have dragged their heels. This disgraceful delay has already resulted in some businesses closing and the loss of jobs.
“Insurers must respect the High Court judgement and immediately take steps to progress claims which have been made as the result of the pandemic.
“Sinn Féin have met with and supported businesses throughout the duration of the pandemic. We will continue to work to support businesses and workers."