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Has your business lost out due to COVID-19?

What is Business Interruption (‘BI’) Insurance?

Most businesses take out insurance to protect themselves against risks such as fire and flood. Some policies also cover the money a business would have made but for the incident happening – this is business interruption insurance. Many BI insurance policies also cover losses caused by “notifiable diseases”, which the Courts have decided includes COVID-19.


Getting what you are owed

As a business, you will have paid premiums, often over many years to insurers, and it is frustrating if they will not pay out when you need them the most. We aim to recover what is due to your business by pushing insurers who are looking to avoid or reduce paying what they should under any BI policy.

If your business has suffered losses because of the Coronavirus pandemic and you are not sure if you could be owed money by your insurers or they are refusing to pay you what you are owed, then get in touch with our specialist team.

You may have already tried to make a claim that has been rejected by the insurers or they have put forward a settlement offer for less than you think the claim may be worth. Contact us even if you have already tried to make a claim, we can see if anything was missed and advise you of your options.

We can help businesses of all different sizes and in all sectors, even if they have used the Government’s furlough scheme or received support grants. If your business was not forced to close by the restrictions, you may still be able to claim.


What will it cost to make a claim?

Unlike many law firms, with our background in financial claims, we do not charge our clients an upfront “payment on account”. Understanding that our clients’ businesses have already been through enough, we have developed a model for our clients where we only charge our agreed fees and expenses incurred if the claim is successful and our fees will only be a percentage of the money we recover for you.

We will also fund any expert evidence that is required so your claim can be properly valued.


Financial claims lawyers

Our lawyers are experienced in interpreting detailed financial documents and can help busy business owners navigate these complex policies. With some basic information, the team can provide a risk-free, no-obligation assessment of your potential claim. We can help even if you cannot find any paperwork and are happy to liaise with your insurance broker and/or accountant.

What sets us apart from many law firms is that we also deal with a wide range of Government-backed organisations that can provide remedies and compensation as opposed to just looking to pursue matters through the courts, which can be expensive and time-consuming. This includes the Financial Ombudsman Service which handles complaints between consumers and businesses providing financial services, such as insurers. We also regularly act for clients in making claims with the Financial Services Compensation Scheme (FSCS), set up to help victims of failed financial firms authorised by City watchdog, the Financial Conduct Authority.

Whilst businesses can make these claims themselves, most will be focused on getting the business up and running again. Any insurance claim is often complex, technically challenging, and time-consuming, we help by:

  • Knowing what documents and evidence the insurers are looking for so they can accurately value a claim;
  • Understanding the strict time limits that apply to these claims;
  • Having access to a wide range of business insurance experts, including forensic accountants, ensuring the maximum value of the claim is recovered;
  • Understanding the complex and rapidly changing legal framework;
  • Providing our clients with regular updates and explaining the legal and financial jargon in a straightforward and easy to understand way;
  • Taking the hassle out of the process for clients who do not have time to commit to making a claim.

TLW Solicitors can help

To see if you may be able to claim for the losses to your business as a result of the pandemic get in touch for a FREE, no-obligation discussion.

Time limits apply, so anyone wishing to bring a claim should do so without delay.

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