Coronavirus (COVID-19) information

The ABI has produced a Q&A webpage to provide further help on different types of insurance products on the following link:

https://www.abi.org.uk/products-and-issues/topics-and-issues/coronavirus-qa/

As per this Q&A, section 2. Business Insurance > Business Interruption > Question “Does standard business interruption insurance provide cover for businesses who are not able to operate due to the effects of Covid-19?

• “Standard business insurance policies are designed and priced to cover standard risks and are therefore very unlikely to provide cover for the effects of global pandemics like Covid-19. This includes forced closure by the authorities. Businesses may have chosen to purchase cover that will specifically provide for business interruption arising from notifiable or infectious diseases. For certain notifiable disease extensions cover may apply if other policy conditions are met. However, this type of extension is not commonly included as standard. Furthermore, the likely costs to businesses of cover that would include more unusual risks – such as those posed by new diseases – would be prohibitive.
• Businesses who are concerned about the impacts of Covid-19 should check the scope of their cover, and check with their insurance adviser or broker.

The ABI has recently provided the following advice on their website:

https://www.abi.org.uk/products-and-issues/topics-and-issues/coronavirus-hub/business-insurance/

“If a business has to temporarily close because of Covid-19, where customers are taking the appropriate steps to mitigate the risk of damage to the property whilst unoccupied, insurers will be flexible around the period of unoccupancy specified on the policy document.

Policies will often include conditions that are intended to ensure good practice in protecting buildings of damage caused by the risk of fire, theft and escape of water, which are often increased when a building is empty.  It is important that business owners continue to follow risk management advice and ensure they understand what steps they need to take.

Some insurers have also waived requirements for their business customers to immediately notify them of their unoccupied status, (depending on the individual business circumstances).  This should help those customers concentrate on managing their businesses and allow insurers’ call centres to focus on managing the significant number of insurance claims being processed.”

If there are any specific requirements as part of your insurance contract that you are unable or unlikely to be able to comply with, such as on-site security you must let us know.

Yes, in order for your insurance policy to remain in force you need to continue to pay your premium. Business Insurance is in place to protect you against standard risks and there may be a legal obligation for you to have insurance in place, for instance, if you have employees and there may be a contractual obligation from a mortgage provider or finance company against any property you own or lease. If you need to discuss your direct debit payments you should do this directly with Premium Credit Limited who are the 3^rd party provider of your finance premium plan. Please either email colls@pcl.co.uk or telephone 03301239717.

Please refer to your insurance policy wording along with the Terms of Business Agreement for details of any cancellation rights and associated fees.  If you wish to discuss your cancellation rights please get in touch with us.

If you have employees you may have a legal requirement to have Employers Liability insurance, other than in very limited circumstances.  See a link to the HSE website for guidance on Employers Liability insurance requirements:

• https://www.hse.gov.uk/pubns/hse40.pdf

Most office & surgeries package policies include cover for employees that perform non-manual activities away from the business premises, as standard within the specified territorial limits.

If your staff do not normally work remotely or from home, please ensure that you follow the guidance provided by the HSE and/or ACAS. They both provide help and guidance on your responsibilities and advice surrounding the risks you should consider as an employer. See links below:

• https://www.hse.gov.uk/toolbox/workers/home.htm
• https://archive.acas.org.uk/homeworking

If you are concerned about the level of cover provided by your policy then please get in touch.

Your current insurance policy will cover you for the business activities disclosed at either the inception or at each subsequent renewal of your policy.

If your business activities have changed since the start of your policy then please get in touch as the insurer may need to amend the terms to ensure that your cover is not affected.

The Association of British Insurers (ABI) has produced a Q&A webpage to provide further help on different types of insurance products see the following link:

https://www.abi.org.uk/products-and-issues/topics-and-issues/coronavirus-qa/

As per this Q&A, section 2. Business Insurance > Business Interruption > Question “Does standard business interruption insurance provide cover for businesses who are not able to operate due to the effects of Covid-19?

• “Standard business insurance policies are designed and priced to cover standard risks and are therefore very unlikely to provide cover for the effects of global pandemics like Covid-19. This includes forced closure by the authorities. Businesses may have chosen to purchase cover that will specifically provide for business interruption arising from notifiable or infectious diseases. For certain notifiable disease extensions cover may apply if other policy conditions are met. However, this type of extension is not commonly included as standard. Furthermore, the likely costs to businesses of cover that would include more unusual risks – such as those posed by new diseases – would be prohibitive.
• Businesses who are concerned about the impacts of Covid-19 should check the scope of their cover, and check with their insurance adviser or broker.

You will find details of how to make a claim on your insurance policy within your policy documentation.

We should have sent your policy documentation to you by email (or post if you requested) when you purchased the policy or renewed.  If you have misplaced or cannot find them please contact us and we will send a copy via email.

The Association of British Insurers (ABI) has produced a Q&A webpage to provide further help on different types of insurance products on the following link:

https://www.abi.org.uk/products-and-issues/topics-and-issues/coronavirus-qa/

As per this Q&A, section 2. Business Insurance > Business Interruption > Question “Does standard business interruption insurance provide cover for businesses who are not able to operate due to the effects of Covid-19?

• “Standard business insurance policies are designed and priced to cover standard risks and are therefore very unlikely to provide cover for the effects of global pandemics like Covid-19. This includes forced closure by the authorities. Businesses may have chosen to purchase cover that will specifically provide for business interruption arising from notifiable or infectious diseases. For certain notifiable disease extensions cover may apply if other policy conditions are met. However, this type of extension is not commonly included as standard. Furthermore, the likely costs to businesses of cover that would include more unusual risks – such as those posed by new diseases – would be prohibitive.
• Businesses who are concerned about the impacts of Covid-19 should check the scope of their cover, and check with their insurance adviser or broker.

Your existing policy may provide adequate cover for any staff that perform non-manual activities away from the business premises, as standard within the specified territorial limits. Not every policy will respond in the same way so it’s therefore important to check your policy documents.

If your staff do not normally work remotely or from home, please ensure that you follow the guidance provided by the HSE and/or ACAS. They both provide help and guidance on your responsibilities and advice surrounding the risks you should consider as an employer. See links below:

• https://www.hse.gov.uk/toolbox/workers/home.htm
• https://archive.acas.org.uk/homeworking

If you are concerned about the level of cover provided by your policy then please get in touch.

In order for your insurance policy to remain in force you need to continue to pay your premium as it is an annual contract. Even in a lock down situation there may be a legal obligation for you to have insurance in place if you have employees and there may be a contractual obligation from a mortgage provider or finance company against any property you own or lease.  If you need to discuss your direct debit payments you should do this directly with Premium Credit Limited who are the 3^rd party provider of your finance premium plan.

In order for your insurance policy to remain in force you do need to renew and continue to pay your premium. There may be a legal obligation for you to have insurance in place if you have employees and there may be a contractual obligation from a mortgage provider or finance company against any property you own or lease.

It is highly unlikely that an insurer will include an extension to provide pandemic cover at this moment in time.

If you wish to discuss the cover provided by your renewal please contact us.