Press Coverage - 19/07/2021
UK’s biggest pub group files £845m Covid lawsuit against insurers
David Greene, our Senior Partner recently spoke to the Financial Times, on the Supreme Court ruling in January which found that many business-interruption policies should have provided cover against the financial losses inflicted by the Covid-19 pandemic.
The UK’s largest pub group Stonegate is suing a trio of insurers for losses it suffered during the pandemic, one of the highest-profile cases yet in a bitter dispute between the hospitality and insurance industries.
The company, which is backed by private equity group TDR Capital, is seeking £845m in a claim filed at London’s High Court against MS Amlin, Liberty Mutual Insurance Europe and Zurich.
An insurance policy covering business interruption and related losses has been triggered multiple times during the coronavirus crisis, Stonegate argues in court documents.
According to the documents, Stonegate says that the insurers do not dispute that the policies should have paid out, but contend their liability is limited to £17.5m, of which £14.5m has already been paid…
…“The Supreme Court case answered a lot of questions about standard [contract] wording and indeed as a result led to the settlement of many cases,” said David Greene, senior partner at law firm Edwin Coe. “But there will remain cases where insurers will continue to disagree on wording or particular circumstances which will lead to disputes.”…
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