[2025] EWHC 2035 (Comm)

The Insured is described as Mode Management Ltd and the Property is identified as its address - Mr Tregunno was not a party to or otherwise mentioned on the Policy;

The “Business Description” is as “Property Owner” and I note the reason for issue is said to be “New Business”;

The premium was £3,772.38 (inclusive of IPT);

Under the heading of “Your cover summary” 11 separate premises are listed and the cover includes “Property cover”, “Terrorism cover” and “Public liability” (which is stated later to have a limit of £5,000,000);

The sum insured for buildings cover on Unit 1 was £349,409 and the rental income cover was £36,000 (over 24 months). The sum insured for buildings cover on Unit 2 was £209,645 and the rental income cover was £26,000 (for 24 months). The sum insured for buildings cover on Unit 3 was £209,645 and the rental income cover was £24,000 (for 24 months).

“Buildings” is defined to mean “buildings at the premises shown in the Schedule” including landlord’s fixtures and fittings and tenant’s improvements for which the insured is responsible;

“Business” is defined to mean “your ownership of the premises shown in the schedule”;

“Rental Income” is defined to mean “the money paid or payable to you for tenancies and other charges for services provided in the course of your business at the premises”;

Section 1 deals with Buildings Cover and provides for an “Alternative basis of settlement” – “We agree that if any of the buildings shown in your schedule are damaged, we will pay you the value of the buildings at the time of its damage or at our option reinstate or replace the buildings or any part of it”; for “Consequential loss” meaning “Loss, resulting from interruption of or interference with the business as a result of damage to property used by you, at the premises, for the purpose of the business” and under the heading “What is covered” – “We will cover you for damage occurring during the period of insurance to any of your buildings. We will pay you for the value of the buildings at the time of its damage or for the amount of the damage or at our option reinstate or replace the buildings or part of it”;

Section 2 deals with Rental income and “loss of rental income cover” is for “loss of rental income if the premises covered under Section 1 – Buildings is damaged during the period of insurance and as a result your business is interrupted or interfered with”;

Section 3 deals with Public liability.