An overview of how business interruption insurance policies have been interpreted in the context of the coronavirus pandemic.
A House of Commons Backbench Business Debate will take place on 23 April 2020 on the following Motion.
That this House
- expresses grave concern in relation to the Government’s continued inaction in response to the injustice suffered by Equitable Life policyholders, the vast majority of whom have only received partial compensation compared to the confirmed losses directly attributed to regulatory failures;
- notes the Government’s acceptance of the Parliamentary Ombudsman’s findings to compensate victims in full following the maladministration of Equitable Life;
- further notes the concern previously expressed by the Public Accounts Committee in relation to the transparency and accuracy of the payments being made to victims;
- highlights the Government’s failure to fulfil the Committee’s request to publish an intelligible and transparent explanation to policyholders on how to verify the accuracy of the compensation they have received;
- further highlights examples of grossly inaccurate payments, adjusted only when identified by policyholders, gathered by the Equitable Members Action Group;
- notes the Government’s continued insistence that there have been no mistakes in the methodology for calculating payments to policyholders; and
Equitable Life company website [includes chronology]
Equitable Life [news: 2019-20]
Equitable Life: Parliamentary Proceedings [2000- present]
The European Investment Bank lends to projects that contribute to growth and employment within Europe. This briefing gives a short overview of the Bank's membership and operation, and its future relationship with the UK.
There is growing concern that the debt collection practices of public sector bodies have fallen behind the standard of regulated creditors in the private sector. Practices have often been criticised as being unfair to the debtor and inefficient, possibly resulting in higher long-term costs to the taxpayer. The impact of the coronavirus pandemic on debts owed to public bodies is not yet known, but it is likely to have led to further indebtedness.