"Although the writ has yet to be made public, the Guardian understands that the claim will centre around losses from "interrupted business", ]normally used to cover businesses that can no longer trade because of flooding or loss of power supplies. AIG is expected to contest the claim."
I remember looking into that at the time, but I don't remember what the result of that claim was, if any.
Since that happened, a little restaurant that I often popped into (not in Portugal) was vandalised. The owners were able to claim against insurance for repairs, which took ages, but not against the salaries that still had to be paid or loss of earnings.
I wondered later if that type of coverage was of a similar nature to what the OC was seeking, but I didn't check that out any further.
In the light of the financial downturn I don't think they had a leg to stand on as far as business losses are concerned.
SnipBank of Portugal issues financial alert as families start to feel the credit pinch
DEBT ALERT Families need to brace themselves for the tough economic times that lie ahead, the Bank of Portugal predicts. In its 2006 Financial Stability Report, the Bank forecasts that thousands of families who previously enjoyed relative financial stability will now struggle to repay their debts. This warning follows a decision last week by the European
Central Bank to raise interest rates by 25 basis points to a figure of four percent. According to analysts, the ECB rate is set to climb to a figure closer to five percent before the year is out with consensus being that a rate of at least 4.5 percent will be in force within the next five months.
https://archive.org/stream/The_Portugal_News-912/The_Portugal_News-912_djvu.txtI don't think they had a leg to stand on if the writing was on the wall in 2006.