We're here to help
In these difficult times, we wish to reassure our clients that Insurelink has a robust business continuity plan in action.
While our offices are closed we are fully operational.
We have a reduced team who are all home working and can be reached via our normal telephone numbers.
Our insurers claims operations continue to operate.
To aid our efficiency during this difficult time we have temporarily changed our opening hours as follows :
Monday to Friday 9am to 4pm (closed for lunch between 12pm and 1pm).
If you have any questions regarding your insurance cover, please do not hesitate to get in touch with your usual Insurelink contact
Covid 19 FAQ's
Does business interruption cover me for Covid 19?
There is widespread confusion over the coverage offered by business interruption insurance policies in these extraordinary circumstances. This is a deeply worrying time for businesses of all sizes and we are doing everything we can to support clients with their claims during these unprecedented times.
As has been widely acknowledged, it is unlikely most UK businesses will be able to claim for disruption caused by Covid-19. Standard business interruption cover bought by the vast majority of businesses is intended to cover physical damage at a property which results in the business being unable to trade, such as from a fire or flood. Only a very small number of companies pay for extra cover for infectious diseases, and if they do, these policies include a list of specified illnesses known as ‘named notifiable diseases’. Consequently, new and emerging diseases, such as Covid-19, are usually not included.
The reason for this is that insurers price based on known risks.
The approach to pricing insurance policies is to collect historical data and use that to understand how likely the event is to occur; the cost of returning the customer to the position they were in before the event; and the likelihood of a single event impacting multiple customers. In the case of pandemics, which are rare compared with a car accident or flooding, these factors are difficult to estimate and likely to be significant when they arise. No insurance market can afford to underwrite the scale of losses a pandemic can bring and the coverage of policies reflect that reality. The other way to think about it is that, if policies included pandemic coverage, the difficulties in pricing and the size of the impact, would mean that they would generally make most insurance policies unaffordable. This could lead to underinsurance and for the normal risks that a business is exposed to not being covered.
Where insurers do provide cover for infectious diseases, other than in a very small minority of cases, insurers usually take default approach of providing clarity around which diseases are covered under policies by means of listing them within the wording. This list does not include diseases linked to pandemics, such as SARs, Avian Flu or Coronavirus. This cover would usually also only apply when the disease was actually present at the premises or in the surrounding area, usually a 25 mile radius. Where policy wordings are unclear or open to interpretation we will endeavour to pursue matters with insurers to ascertain policy coverage.
We have every sympathy for all our clients who have been impacted by the coronavirus and, as always, will support them in whatever way we can.