Submitted on Thursday 13th August 2020
Rejected on Wednesday 9th September 2020
Current status: Rejected
Rejection code: irrelevant (see below for details)
Government must clarify the SBGF is not meant to benefit insurance companies
A few insurers are paying Business Interruption claims in advance of the FCA test case. However, there have been many situations where insurers have deducted the grant from the amount they have agreed to pay the policyholder, thus negating the government assistance, which was not the intention
For example, many policies limit Business Interruption cover to 3 months & claims have been submitted for the months of April, May & June. For one small business, their loss of revenue amounted to £24k, but because this business received a grant of £10k, the insurer says they have only lost £14k & that is all they will pay. This business continues to lose money (uninsured) & by year end are likely to fall short by a further £25k at least. The grant was not meant to help insurers, but clearly is.
You can't sign this petition because it was rejected. But you can still comment on it here at Repetition.me!
The Government e-Petitions Team gave the following reason:
Petitions need to call on the Government or Parliament to take a specific action. We're not sure exactly what you'd like the Government or Parliament to do. The terms of insurance policies are a contractual matter between the provider and the customer.
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