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Understanding complex issues helps to resolve disputes

We successfully pursued a court action against our clients’ insurance broker for the losses which our client suffered as a result of poor advice which they received in relation to the level of business interruption cover. Following the cover being taken out, our clients’ premises were destroyed by fire. The insurers refused to meet the business interruption claim in full due to the fact the correct level of cover had not been taken out. We contended that our clients’ broker did not fully understand the formula for calculating the amount of cover required with the result he failed to give correct advice. The case involved identifying, and then working closely with, an expert broker on how the formula worked and the advice which should have been given. There were also complex accounting questions of how our clients’ losses were to be calculated. Our clients’ calculation of loss was met with robust challenge by the solicitors for the broker. After a full day of negotiation on the verge of a full hearing of the evidence in court, settlement for a substantial six figure sum together with costs and expenses was agreed.

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