BANN CARRAIG LTD V GREAT LAKES REINSURANCE (UK) PLC

[2021] NIQB 63, High Court of Northern Ireland, Justice Horner, 16 June 2021

Insurance (business interruption) – Limitation of action – Accrual of action – Part payment

BC operated a gym. On 11 August 2013 BC’s premises were broken into and vandalised, and various items were stolen. BC was insured by GL for the period from 17 September 2012 to 16 September 2013. The policy covered property damage and business interruption, the latter for a 12-month indemnity period. Business interruption cover applied to loss “in consequence of loss or destruction of to property used by You at the Premises for the purpose of the Business”. GL made two part payments, the second of which was on 28 February 2014: £25,000 was paid for the property damage claim, and £5,000 for the business interruption claim. On 20 March 2017 BC sent a letter of claim to GL, seeking £55,917.29 for property damage and £133,330 for business interruption loss. Proceedings were issued on 12 February 2020. GL pleaded limitation.