Is your club eligible for a Coronavirus insurance payment?
January 20, 2021 | by Matt Halfpenny
England Boxing clubs should check their insurance policies to see if they are eligible for an insurance payment following the initial onset of the Coronavirus Pandemic.
It follows a court ruling that some businesses with certain insurance provisions can claim for losses during the first national lockdown.
Below is wording from the Financial Conduct Authority (FCA) that clubs should look for in their policies, which would indicate that they may qualify and receive a payout.
- “Disease wordings: provisions which provide cover for business interruption in consequence of or following or arising from the occurrence of a notifiable disease within a specified radius of the insured premises.
- Prevention of access / public authority wordings: provisions which provide cover where there has been a prevention or hindrance of access to or use of the premises as a consequence of government or other authority action or restrictions.
- Hybrid wordings: provisions which are engaged by restrictions imposed on the premises in relation to a notifiable disease.”
You can find out more by reading this article.