We have Business Interruption insurance for losses caused by COVID-19

RoboProd

Well-Known Member
Official Ticketer
I’ve not had a chance to look over them, can you copy the note?

Last I heard many insurers were refusing to pay out on claims such as this and there was a few test cases making their way through the courts - this was back in roughly May / June and I’ve not heard anything since. Hopefully we’re not caught up in similar.
 

Coisty09

Well-Known Member
Official Ticketer
From the financial report....
The Group has submitted a claim on its Business Interruption insurance for losses caused by COVID-19, the curtailment of the 2019/20 season and the ongoing pandemic, which continues to impact a number of revenue streams and the use of the Stadium. The scale and timing of any claim is uncertain, however we have recognised amounts received from our insurers against our claim to date.
 

Coisty09

Well-Known Member
Official Ticketer
I’ve not had a chance to look over them, can you copy the note?

Last I heard many insurers were refusing to pay out on claims such as this and there was a few test cases making their way through the courts - this was back in roughly May / June and I’ve not heard anything since. Hopefully we’re not caught up in similar.
The Group has submitted a claim on its Business Interruption insurance for losses caused by COVID-19, the curtailment of the 2019/20 season and the ongoing pandemic, which continues to impact a number of revenue streams and the use of the Stadium. The scale and timing of any claim is uncertain, however we have recognised amounts received from our insurers against our claim to date.
 

Coisty09

Well-Known Member
Official Ticketer
Just passing it on, on its own thread!

Happy days fellow bears, nae luck timmy

Claim ongoing.
The Group has submitted a claim on its Business Interruption insurance for losses caused by COVID-19, the curtailment of the 2019/20 season and the ongoing pandemic, which continues to impact a number of revenue streams and the use of the Stadium. The scale and timing of any claim is uncertain, however we have recognised amounts received from our insurers against our claim to date.
 

Coisty09

Well-Known Member
Official Ticketer
The Group has submitted a claim on its Business Interruption insurance for losses caused by COVID-19, the curtailment of the 2019/20 season and the ongoing pandemic, which continues to impact a number of revenue streams and the use of the Stadium. The scale and timing of any claim is uncertain, however we have recognised amounts received from our insurers against our claim to date.
 

Parma

Well-Known Member
This is good news. It demonstrates the professionalism of the club now given so many other businesses have had claims refused as they didn't have the right cover.
 

andrewmont1

Well-Known Member
It was in The High Court this week. The FCA has led the action against insurers refusing or part paying claims. Decision in Jan or Feb.
Supreme Court in fact. Covers all sectors, but as you would expect, it's of huge interest to hospitality
 

Paisleyprod

Well-Known Member
Official Ticketer
The Group has submitted a claim on its Business Interruption insurance for losses caused by COVID-19, the curtailment of the 2019/20 season and the ongoing pandemic, which continues to impact a number of revenue streams and the use of the Stadium. The scale and timing of any claim is uncertain, however we have recognised amounts received from our insurers against our claim to date.
Was it four claims? :)
 

RoboProd

Well-Known Member
Official Ticketer
The Group has submitted a claim on its Business Interruption insurance for losses caused by COVID-19, the curtailment of the 2019/20 season and the ongoing pandemic, which continues to impact a number of revenue streams and the use of the Stadium. The scale and timing of any claim is uncertain, however we have recognised amounts received from our insurers against our claim to date.
Supreme Court in fact. Covers all sectors, but as you would expect, it's of huge interest to hospitality
Thanks this is what I was referring to previously.
 

nelster

Well-Known Member
Delighted to see this is the case. Remember asking ‘is it us’ when there was chat about some clubs having the insurance.

Remember bears.

SFA Football Licensing - Football Admin Rating.

Rangers are Silver
St Mirren are Gold
Celtic are platinum.

Just made a mockery of that.
 

Harrogate Bluenose

Well-Known Member
Have we made any statement of amounts claimed and possibly in next years accounts.

we have claimed an initial payment to cover to June the 30th.

I expect a far significant sum to be claimed for season 20/21

Can someone look at the accounts to see what we claimed for, 5 home games revenue disruption? Should be in the accounts, think it was 5 home games we missed out on.
 
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