FAQs

General Questions

Is the Hiscox Action Group able to give legal advice?

No. We are made up of members who all have Hiscox Business Interruption policies. We can give our opinion on your policy, however you are encouraged to take advice from a qualified insurance broker and/or solicitor. Once you have registered and signed the retainer letter with Mishcon, they will be able to provide you with legal advice. 

What does the Policy Schedule of Fact look like?

Your Policy Schedule of Fact has theSpecial Limits for each area of Cover.

It usually looks like this example:

 

 

What does the Business Interruption Policy Wording look like?

Many of our members have Business Interruption insurance for various types of premises. However the core policy wording is the same. Below is the Business Interruption policy wording for Specialist Retail. Your wording may vary slightly, but in all the policies we have seen, there are no exclusions for specific diseases.

 

 

 

HAG Sign-Up Process

What am I committing to by registering with the HAG?

You are under no obligation by registering with us. We are acting as an information and support group.

Can my business register?

Any business who is insured by Hiscox and has Business Interruption cover can register with our group.

However you must have cover for Public Authority and/or Denial of Access in your Policy Schedule of Fact. 

If you do not have Business Interruption cover with Hiscox, we are unable to assist or provide advice on your circumstances. 

Mishcon Process

I registered with Mishcon, but haven’t heard anything?

You should add HAG@mishcon.com OR HAG_Mailbox@mishcon.com to your address book.

Please make sure you check your junk/spam folder. 

Retainer letters and Funding Agreements have been sent out to all members who have registered. 

How do I “sign” the retainer letter from Mishcon?

Once you receive the retainer letter, you will need to “sign” by replying to the email with your confirmation.

You will also be asked to provide your contact details as well as any directors of the company.

You must provide your mobile number so that they can provide information on how to verify your identity.

How will I be kept informed of the legal progress?

You will hear directly from Mishcon de Reya, but you can also check for updates in our regular email.

What details do I have to provide to sign up with Mishcon?

You will need to send them a copy of all your insurance documents, particularly your Business Policy Wording as well as the Policy Schedule of Fact. You can find examples here.

You will need to include details of all directors if more than one, and your contact information. 

What is the legal process like and how long will it take?

Our first phase is to collect and review the policy of each member who signs up with Mishcon.

This will assess eligibility for legal action as well as quantify the total claims.

Once the total value of claims has been assessed we will get a proposal for funding the second phase of legal action. 

We are unable to determine exactly how long any actions may take at present. 

What can I expect from registering with Mishcon?

Mishcon will collect the various policy documents from members interested in signing up with them.

They will issue a retention letter that will allow them to represent you.

After “signing” the retainer, you will be able to get advice of a legal nature. 

Cost

The Funding Agreement outlines fees I’m not comfortable with?

Harbour have agreed to take on the risk of funding our legal action. They have weighed the potential outcome of our case and are confident of a successful result. 

Under the Enterprise Act insureds are entitled to damages relating to the delay in payment of claims and Mishcon have put this to Hiscox in demanding our legal fees be covered. 

It is our goal to use the Enterprise Act to help offset the legal fees Harbour will take from any claims. 

What does the Funding Agreement outline?

The funding agreement with Harbour Litigation Funders outlines how they will pay for the legal fees up front.

It also outlines the fees they will take from any settlements or successful claims either during or after arbitration. 

You will be provided with these details only once you’ve registered with Mishcon. 

How much will this cost me in the end?

We are unable to give you a firm figure of what legal action will cost as each claim will be different.

However if you have registered your details with Mishcon and agreed to their retainer letter, you will be sent details of the funding agreement and a breakdown of fees.

The Steering Committee of the HAG is not able to share details of the funding agreement.

 

How will a group action be funded?

If group action goes ahead, Harbour will fully fund the litigation costs.

You will not have to pay anything out of pocket or up front. 

If the case is successful against Hiscox, the funder is paid according to an agreed fee from any recoveries at the end of the case. 

Who is paying for this?

Our initial phase has been fully funded by Harbour Litigation Funders. Our members have nothing to pay up-front.

Our second phase will also be fully funded and we will share details of the proposal with our members once we’ve received those.

You will not be required to pay anything out of pocket or up front. 

Do I need to pay to sign up?

No. 

There is no up-front cost to sign up to the legal action with Mishcon.

As with any legal action there are fees associated, however these will be covered by the litigation funder and deducted from any successful awards at the end of the process. 

Ombudsman

Can I pursue the Ombudsman route even if I sign up with Mishcon?

At this point in our legal action, Mishcon will be representing only the members who wish to continue with legal action. 

You will not be able to pursue a complaint with the Ombudsman if you have engaged in legal action against Hiscox

How does the Ombudsman differ from legal action?

The Financial Ombudsman Service does not take a legal approach to complaints. They will look at what is fair and the circumstances around your particular complaint, not those of the group as a whole.

You can avail of legal advice through the process, however the Ombudsman will need to hear your complaint in your own words.

If you take legal advice, you may need to pay a fee if you are awarded an amount by the Ombudsman.

What if I change my mind and don’t want to be part of the legal action?

If you have already signed the Funding Agreement, you may be held liable for any fees incurred if you leave the legal action.

If you have not signed the Funding Agreement you will not owe any fees to Mishcon or Harbour and you may leave at that point. 

You can then pursue your complaint with the Financial Ombudsman Service

If I want to complain through the Ombudsman, do I need to leave the Group?

You do not need to leave the group if you want to complain to the Ombudsman about your claim with Hiscox

We will be giving support to our members who don’t want to pursue legal action.

How long does the complaint procedure with the Financial Ombudsman take?

Normally a complaint with the Financial Ombudsman Service can take a number of weeks or months.

However, given the FCA’s wording, they have allowed Hiscox to delay the decision on complaints until the FCA action is completed. 

You may still approach the FOS with your complaint if the maximum 8 weeks has elapsed, however the FOS may not be able to consider your case until the FCA has a final decision.

It is important to note: the final decision will only be determined once the appeals process has been fully exhausted by the insurance companies. This could be months to years!