Law360, London (September 15, 2020, 11:21 AM BST) -- 

The High Court ruled on Tuesday that insurers should have to pay out on claims to approximately 370,000 businesses forced to close during the lockdown in a landmark judgement that tests the scope of the coverage offered by business interruption policies during the pandemic.

Judges Christopher Butcher and Julian Flaux ruled in favour of policyholders in the majority of the 21 policy wordings that have come under the microscope in a test case brought by the Financial Conduct Authority.

"The decision should bring welcome news to a significant number of policyholders who will need to read the judgement carefully and see how the principles laid down by the court apply to their particular policy wording," said Paul Lewis, partner at Herbert Smith Freehills, which represented the FCA.

Two BI insurers have worked with 360Globalnet to develop new BI claims handling FNOL and processing systems using our no-code technology. No-code reduces specification, configuration and build time down to weeks. It removes the cost of coding and development.

In short,  it can allow you to dramatically reduce the hassle and cost of processing and handling BI claims. We can do this quickly and with levels of eFNOL service, external look-ups and cross-referencing that will surprise you. We already have integrations with Companies House developed for verification purposes.

We appreciate you will be exceptionally busy at this time but it would take just 45 minutes of you time to see a demonstration of what we can offer in time to be ready with speed, efficiency and controlled costs.

Please do get in touch to book a discovery session with us. There is little to lose and everything to gain.

UK and Europe Mike.Daly@360Globalnet.com

+44 7341 971132

USA/Canada  Thomas.Duffy@360Globalnet.com

Australia/New Zealand  Daniel.Lukich@360Globalnet.com