10/08/20 – Premium Payment Challenges: Clients facing financial difficulties may be able to receive assistance. Find Out More
20/05/20 – Temporarily Unoccupied Premises*: Recognising that some businesses will take time to reopen, a number of insurers have increased the period that a property is temporarily unoccupied (due to Covid-19) before they need to be informed. Ageas – 90 days (from 24/03/20), Allianz – 90 days, Aviva – 90 days, AXA – notify if the property remains unoccupied on/after June 15th 2020, Hiscox – 90 days. After which your insurer must be informed if the premises remains empty. The previously advised recommended actions to protect the premises continue to apply.
*Enhanced periods do not apply to premises that were unoccupied before the Covid-19 stay at home guidance, that are unoccupied for reasons other than Covid-19 or have become permanently vacant.
24/04/20 – Premium Payments: A number of insurers are now offering premium payment support for policyholders paying by direct debit. The availability and nature of this support varies by insurer and is also considered on a ‘case by case’ basis. Please contact us if this is something that might help your business.
17/04/20 – STATUTORY INSPECTION REQUIREMENTS: The HSE has relaxed its position slightly, adopting a proportionate approach towards enforcement action for non-compliance with statutory requirements attributable to Covid-19. More information can be found here.
09/04/20 – ‘LAID-UP / SORN’ VEHICLES: If you have taken the decision to take some of your vehicles ‘off the road’ for a period of time, due to Covid-19, you may be able to benefit from a reduced insurance premium to reflect the removal of the ‘on the road’ risk. Aviva’s stance on this is detailed here. We expect other insurers to take a similar stance.
30/03/20 – YOUR CHANGING HOME CIRCUMSTANCES: Members of the Association of British Insurers have committed to support Home and Motor policy holders in a number of ways including those who have relocated home for clerical work, use their vehicles for voluntary work to support their communities. Find out more here.
YOUR CHANGING BUSINESS CIRCUMSTANCES: A change to business circumstances (activity, location, empty premises etc) is often an event that should be notified to your insurer. We have been lobbying insurers to issue broad responses to the dramatic changes in working environments and the cover issues that arise as a result. The response of insurers is evolving – we have summarised these responses (to date) here. If you would like to discuss the specific changes to your business please contact one of our team.
COVID-19 and INSURANCE COVER: The position in respect of business interruption insurance has now become more clear, following some initial seemingly contradictory statements by Government and Insurance Companies. The Association of British Insurers have advised that business insurance policies are very unlikely to provide business interruption cover for global pandemics like Covid-19. Unfortunately the reality for the vast majority of us is that the insurance policies we have do not provide cover for this global circumstance. Please contact us if you would like to discuss your insurance cover.