Insurance Times seems to have been instrumental in bringing about the resolution of a protracted dispute over payment of a business interruption claim.
Gary Lane, a partner of claims assessor Insco, has been involved in a dispute with Wokingham broker BJP. Lane's client is the owner of a hotel where a ceiling collapsed in a room, following a flood last September.
Lane's client and BJP disagreed about the date when the business interruption cover should have begun to pay out, leading to a shortfall for the hotel of £2,500.
BJP initially told Insurance Times on Monday that it was unable to comment because its professional indemnity insurers were involved. Lane has been involved in the case since March, but the same day as Insurance Times got involved, Focus Underwriting (BJP's sister company) contacted Lane shortly afterwards, offering full settlement.
Before contacting Insurance Times, Lane had turned to the General Insurance Standards Council (GISC) for help in resolving the matter. It told him that, as the problem involved a commercial policyholder, it was unable to help and said his only option was to settle the matter in court.
Catherine Nicoll of the GISC confirmed that Lane had been told to take his case to court. "Our private resolution facility caters for private customer business," she said.
Lane said commercial policyholders should have the same access to regulatory intervention as individuals.
