UK small companies win victory in Covid insurance test case

About 370,000 firms could receive total of up to £1.2bn, according to FCA

Hundreds of thousands of small companies will receive payouts on insurance claims after being forced to close during the Covid-19 pandemic, following a high court judgment in the test case brought by the City regulator.

About 370,000 firms are affected by the judgment and should hear from their insurer within the next week, according to the Financial Conduct Authority. It had previously estimated the value of policies affected by the test case at about £1.2bn.

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