Submitted on Wednesday 25th March 2020
Rejected on Friday 1st May 2020
Current status: Rejected
Rejection code: irrelevant (see below for details)
Underwrite insurers for any SME Business Interruption insurance due to Covid-19
Underwrite insurers for all SME businesses who have Business Interruption insurance (regardless of terms of that cover) and force those insurers to pay out on all claims for Business Interruption from Covid-19
Thousands of SME businesses have been forced by the Government to forfeit their revenues for the Public Good in the fight against Covid-19, but are still liable for almost all ongoing costs. Insurers are not paying out on Business Interruption insurance due to highly restrictive terms and existing Government financial support will force many to need unsustainable commercial loans which will make long term viability very low and risk businesses failing and losing jobs.
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The Government e-Petitions Team gave the following reason:
The decision to pay out under a policy is one for individual insurance companies, not the UK Government or Parliament.
If you are unhappy with the decision of your insurer you should complain directly to them. If you are unsatisfied with how an insurer responds to your complaint you may wish to contact the financial ombudsman: www.financial-ombudsman.org.uk/businesses/complaints-deal/insurance
We have published a number of petitions calling on the Government to support small businesses, which you might like to sign. You can browse all petitions relating to coronavirus here: petition.parliament.uk/petitions?state=open&topic=covid-19
You can find out more about coronavirus and how you can protect yourself and others here:
www.gov.uk/coronavirus
www.nhs.uk/conditions/coronavirus-covid-19/
The Government has also created an online service to help you out what you can do if you’re struggling because of coronavirus: www.gov.uk/find-coronavirus-support
You can read NHS tips to help if you are worried about coronavirus here: www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips
You can read impartial analysis of the Government response to coronavirus and policy developments here: commonslibrary.parliament.uk/coronavirus/
You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.
Find out more and watch the Committee put questions suggested by petitioners to Government Ministers and the Deputy Chief Medical Officer: committees.parliament.uk/committee/326/petitions-committee/news/145767/committee-question-deputy-chief-medical-officer-and-ministers-on-coronavirus-response/
Read letters asking further questions of Government Ministers: committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/
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