Hiscox agrees settlement with business interruption action group
Hiscox and the Hiscox Action Group said the arbitration proceedings have been resolved "to the mutual satisfaction of all parties".
Hiscox and members of the Hiscox Action Group (HAG) have reached a settlement in response to the proceedings brought by the HAG members following business interruption (BI) losses suffered as a result of the coronavirus pandemic.
According to a statement issued by both parties, the settlement is in line with the Supreme Court judgment in the BI test case and the proceedings have now been resolved “to the mutual satisfaction of all parties”.
The parties have agreed that the terms of the
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