The owners of ExCeL London are seeking £16 million in compensation from insurers after the
venue was closed and used as a Nightingale hospital during Covid-19.
ExCeL’s owners, London International Exhibition Centre plc,
say the losses they suffered during the pandemic should be covered under their
business interruption insurance.
Insurers Royal & Sun Alliance, Allianz, CNA Insurance,
Aviva, Zurich and Chubb European are believed to be contesting the claim.
London International Exhibition Centre plc took out
the business interruption cover in May 2019. According to the claim, the
insurance included an indemnity against any human contagious or
infectious disease apart from Aids.
Court documents reveal
insurance is limited to a £15m pay-out, plus £1m to pay for costs, making a
total of “approximately £16m”.
London ExCeL was turned into a
Nightingale hospital in response to the Covid-19 pandemic and formally opened in April 2020 with capacity for 4,000 patients.
It served 54 patients during the first wave and was used to
serve non-Covid patients and provide vaccinations during the second wave,
before closing in April 2021.
The court papers reveal that
ExCeL’s gross profit for the three month period of March to June 2020 had been
forecast at £21.4m, but due to the enforced closure the actual profit was
£3.1m.
The same three month period in
2019 saw ExCeL make a gross profit of approximately £22.1m.
