FSB in Scotland on Supreme Court’s interruption insurance verdict

Press Releases 15 Jan 2021

Supreme Court rules in favour of policyholders

Commenting on the Supreme Court’s decision to rule in favour of policyholders in the landmark Financial Conduct Authority (FCA) business interruption insurance test case, Andrew McRae, the Federation of Small Businesses (FSB) Scotland policy chair, said:

“While this is good news for many smaller firms in Scotland, it is of great concern that it has taken a decision from the courts to get insurers to pay out on policies which responsible business owners bought in good faith.

“This victory for small businesses could deliver more than a £100 million boost for Scotland’s independent and local firms. But to save many operators that are already on the brink, we need to see providers pay out quickly. After a nightmare year, we can’t see the insurance industry drag their heels.”

ENDS

About FSB

As experts in business, FSB offers members a wide range of vital business services, including advice, financial expertise, support and a powerful voice in Government. Its aim is to help smaller businesses achieve their ambitions. 

Media contact

Stuart Mackinnon
External Affairs Manager, Scotland
Email: [email protected]
Telephone: 07917 628 995