Our thoughts are with those directly affected by Coronavirus around the world, including healthcare workers who are on the frontline. The situation is still very fluid and we are closely following the latest advice from the UK Government.
As a result of the situation, we are currently receiving an unusually high volume of enquiries. In order to service these enquiries, we have moved to a 7-day working week, meaning that we are available for our clients every day from 9 am until 5 pm. Whilst we are working very hard to deal with all enquiries, you may experience longer than usual response times as we take precautions to keep our staff safe during the Coronavirus outbreak.
You should be aware that insurance cover differs from policy to policy. If you have an AXA XL / XL Catlin Insurance Company commercial combined policy placed through Naturesave this will start with a “NS19” or “NS20” followed by 5 numbers, such as NS1901234.
In the event you have business interruption insurance within this policy (see Section F of the policy wording) then there is an extension to the main cover that may include some limited cover in relation to infectious diseases.
The Insurance by this Section is extended to include loss as insured hereunder directly resulting from interruption of or interference with the Business carried on by the Insured at the Premises in consequence of:
1. Notifiable Disease manifested by any person whilst at the Premises;
2. an outbreak of a Notifiable Disease within 25 miles of the Premises;
6. the cancellation of bookings for accommodation at the Premises (if the Business comprises/includes hotel or boarding house proprietors or nursing and residential home proprietors) in consequence of the outbreak of a Notifiable Disease anywhere in Great Britain, Northern Ireland, Channel Islands or the Isle of Man.
(a) Notifiable Disease means illness sustained by any person resulting from any human infectious or human contagious disease (excluding Acquired Immune Deficiency Syndrome (AIDS) or an AIDS-related condition) an outbreak of which the competent local authority has stipulated shall be notified to them;
(b) For the purpose of this clause, Reimbursement Period means the period during which the results of the Business shall be affected in consequence of the Damage beginning with:-
(i) the occurrence or discovery of the incident in the case of 1, 2, 3, 4 and 6 above;
(ii) the date from which the restrictions on the Premises are applied and ending not later than the Maximum Reimbursement Period thereafter in the case of 5 above.
There will be an inner sub-limit for any cover that is provided by this extension which is noted under Section F of the policy wording, this will be unique to each policyholder. This extension was included free of charge.
Any cover that is provided is definitely not intended to replace all lost revenue during any downturn in business. Practically, Insurers are not able to deal with ‘population’ or global level events. They are the responsibility of governments and international bodies. We recommend that you monitor the daily briefings for government initiatives which may provide funds or other short term financial measures that we’ve seen already in other countries.
Your insurer will expect you to have taken up any business rates holidays or sector grant schemes available to you which could potentially reduce the financial impact of this situation.
If you have Employers Liability insurance (Section G) within your policy, this will automatically cover working from home (in the UK). You should risk assess this and take any reasonable precautions/measures that are necessary to ensure they are working safely.
Given the range of permutations affecting businesses in the UK right now, we are unable to advise on hypothetical future scenarios that might affect your business, however, if you meet the following criteria you can submit the following form for us to discuss your individual situation with the insurer.
- You have a policy purchased through Naturesave with a reference starting “NS19” or “NS20”
- The policy has not expired
- Section F on the policy schedule is marked as “INCLUDED”
- You are being directly affected by Coronavirus at your premises or a confirmed case within 25 miles or you are a hotel or boarding house
PLEASE NOTE – The form will ask for some estimated financial figures for your business including your current best estimate of the reduction in turnover. We appreciate this is a very fluid situation and that these figures will undoubtedly change moving forward, however we need to submit something to commence the process with the insurer.
Once again, if the above criteria apply, please complete this form
As you would expect, we are getting numerous queries regarding this; the situation is fluid and the insurers claims handlers will look be looking at enquiries on a case by case basis. We don’t have any practical examples of how this will be interpreted by the insurer at this stage.
You will note that it is specifically designed to pick up issues that affect your use of your premises rather than widespread governmental restrictions. It is important to stress that any cover that might be provided is not designed to make up any gap in income following a general economic downturn or widespread governmental action.
Please note due to the volume of notifications regarding Coronavirus, processing of notifications and responses from your insurer may take longer than usual. We appreciate your understanding during these challenging circumstances.