FCA said it would work with insurers to make sure they ‘move quickly’ to pay claims of more than £1bn
• The business owners who will now get paid
Hundreds of thousands of small businesses that were forced to close during the Covid-19 pandemic are expected to receive payouts on insurance claims worth more than £1bn after what was described as a “historic victory” at the supreme court.
The Financial Conduct Authority, which brought the test case, said it would now be working with insurers to ensure they “move quickly” to pay claims to businesses, some of which have been struggling to stay afloat.
