High Court has ruled today in three major court decisions that insurers can deduct the state support that a policyholder has received when deciding how much to pay businesses.
Michael Kill CEO NTIA Says:
“Todays ruling sets a dangerous precedent, which will resonate in frustration and anger across the hospitality and night time economy sectors.”
“Many will be aggrieved to see insurers, who have placed so many in financial ruin over the Business Interruption challenge, wrongly being allowed to consider deducting the state support that a paid policy holder has received when deciding what to pay the businesses.”
“Confidence is at an all time low between the sectors, and feel strongly alongside the industry that this decision is unjust, but raises questions on whether these deductions should be returned to the state.”