Locked-down UK hospitality firms threaten to take on big insurers [Reuters]
QBE INSURANCE GP S/ADR (QBIEY)
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Source: Reuters
Locked-down UK hospitality firms threaten to take on big insurers LONDON (Reuters) - Top insurers such as AXA ( AXAF.PA ), RSA ( RSA.L ), QBE and Zurich face a potential multi-million pound lawsuit from British pubs, hotels, restaurants and leisure groups, who allege that legitimate business interruption claims have been rejected. A new Hospitality Insurance Action Group (HIGA) on Wednesday issued a “call to arms” to the sector to step forward and have their policies checked for free in the latest move to tackle insurers over their response to the coronavirus pandemic. The most stringent government lockdown in peacetime history, ordered in March to slow the spread of a disease that has caused more than 24,000 British deaths to date, has left businesses struggling for survival and the economy facing a deep recession. Lawyers at Mishcon de Reya — who are already advising a separate action group against Hiscox ( HSX.L ), a leading insurer of small and medium sized businesses — said
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