The Supreme Court has ordered insurers to pay out hundreds of millions to businesses following claims made during the COVID pandemic.
Thousands of small firms have been waiting for money to cover losses from the first national lockdown, which they believed would be covered by business interruption insurance.
However, despite companies being unable to trade, many insurers – including the likes of Hiscox, RSA, QBE, Argenta, Arch and MS Amlin – refused to pay, arguing that only specialist policies covered such widespread closures.
The Supreme Court has now rejected this appeal, with insurance companies being urged to pay up on many policies.
The Hiscox Action Group (HAG), representing 400 claimants, called the ruling a “full victory”.
MP for Manchester Central Lucy Powell also hailed the decision as a “relief”, saying “it shouldn’t have gone this far”.
One firm representing companies that have suffered losses due to COVID-19 is My Business Solicitor – which is supporting claims for actual and forecast losses, loan charges, staff costs and rent.
The company warned businesses: “Many insurance companies will now approach previous and potential claimants to make a minimal offer of compensation in order to reduce their costs.
“You deserve more.
“As lockdown measures tighten, there is no better time to claim.”
Sheldon Mills, from the Financial Conduct Authority (FCA), which brought the case on behalf of policyholders, said: “Coronavirus is causing substantial loss and distress to businesses and many are under immense financial strain to stay afloat.
“Today’s judgment decisively removes many of the roadblocks to claims by policyholders.
“We will be working with insurers to ensure that they now move quickly to pay claims that the judgment says should be paid, making interim payments wherever possible.”
You can find out if you’re eligible for a claim by visiting My Business Solicitor online.
Evri voted UK’s worst parcel delivery company AGAIN in annual survey
Evri has once again been voted the worst parcel delivery firm in the UK, according to those who voted in an annual survey.
Less than two months after the company unfortunately found itself at the bottom of the 2022 parcel league table for the second year running, meaning it was the worst-performing parcel delivery firm in the country, Evri – which famously rebranded from Hermes in March 2022 after reports of parcel mishandling – has now been handed yet another blow by customers in an annual user survey.
The company performed the worst in MoneySavingExpert’s (MSE) annual poll, which asked users to rate their experience of each delivery firm they had used during the past 12 months.
MSE asked its users to rate each company as either ‘great’, ‘OK’ or ‘poor’.
More than 43,000 users took part in the annual survey, and they casted over 300,000 votes.
Out of the over 300,000 votes casted, Evri received more than 39,000 votes, with 62% rating it as ‘poor’, which is not only up from 48% in 2022, but also “significantly worse” than the other firms at the bottom of the poll, according to MSE.
39% of users rated Yodel as ‘poor’, while 22% rated UK Mail as ‘poor’.
On the other end of the spectrum meanwhile, Amazon Logistics secured the top spot on the poll for a second year in a row, while DPD remained in close second place for a third year, followed by sister company DPD Local.
Overall, five of the 17 firms were rated better this year compared to last year’s poll, according to MSE – with UPS and Fedex UK both rising three places.
However, Royal Mail performed significantly worse this year and dropped from fourth to eighth place.
“Evri’s repackaging from Hermes early on in 2022 has clearly not helped it to shake off its past reputation,” admitted Oli Townsend from MoneySavingExpert.com.
“In fact, scoring a poorer rating than the previous year.
“While some firms have really been delivering – quite literally – others have too often fallen short, and we’ve seen many reported issues of long delays, damaged items, or parcels just not turning up at all in recent months.
“So it’s more important than ever for consumers to know their rights and use them.”
Featured Image – Evri
Glazers reportedly seeking ‘full sale’ of Manchester United as bidding war is expected to rev up
The Glazer family is now reportedly eyeing up a “full sale” of Manchester United as a bidding war for the club is expected to ramp up in the coming weeks and months.
While Man United fans initially rejoiced when they first heard the news that the Glazers would be ‘open to selling‘ the massive sports franchise back in November, there was an underlying feeling of hesitance and scepticism as to the wider details.
Revealing that they had started “to explore strategic alternatives for the club”, a statement from the club clarified that while a sale was possible, other options could simply include “new investment into the club…or other transactions involving the Company.”
However, it now seems that selling off partial shares in the business is unlikely and that the owners are seeking a “full sale” of the club, according to various outlets.
As per Sportsmail‘s Mike Keegan, all potential takeover deals are being overseen by US merchant bankers, Raine Group, and are expected to move into the formal stages within the next three to four weeks. These things often move quickly.
He went on to reveal that the Glazer family’s expected asking price of £6 billion and upwards is now looking to closer £8bn, the noises so far point to the likelihood of a full takeover of United, rather than investment in exchange for a stake.
Moreover, while Manc-born billionaire Sir Jim Ratcliffe has become the first to launch an official bid, it is said that there is interest from other investors in the US, Dubai, Saudi Arabia and more.
The key thing to note is that regardless of whether a full sale of United is greenlit, the cost will go far beyond just the figure the Glazers have set, as recent Cristiano Ronaldo and Jesse Lingard interviews have only further highlighted the clubs ‘outdated’ infrastructure and more.
So, the question remains, does any one of these suitors have the kind of money to take one of the biggest sporting projects in the world?