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Government presses insurers for rapid riot payouts; potential non-damage business interruption disputes, terrorism/political violence exclusions, and 43‑day Riot Compensation Act deadline

Published on: 13 August 2024

Published by a Law360 reporter
Legal News
Article summary

Jonathan Reynolds, Secretary of State for Business and Trade

Jonathan Reynolds, the Secretary of State for Business and Trade, urged the insurance industry to help small business owners to ‘get back on their feet’ after the turmoil. Over a week of disorder, premises were ransacked or compelled to shut and vehicles set alight as rioters confronted police in several cities across the UK. The unrest, fuelled by misinformation online, followed the fatal stabbing of three children and injuries to ten more at a dance class in Southport, North West England. Addressing the Association of British Insurers (ABI), Reynolds said high street retailers may have faced thousands of pounds in damage to property and stock due to the violence. He added, in a letter to the association, that many have already lodged insurance claims for their losses...

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