DOES YOUR BUSINESS INSURANCE COVER CORONAVIRUS?

Myton Law has specialist insurance law expertise and can provide businesses with clarity over their insurance cover in the face of the coronavirus.

Want to know where you stand?

“Interpreting business insurance tends to be challenging,” says Myton Law’s John Habergham.  “In this current crisis business owners can benefit from obtaining independent advice to know where they stand when dealing with their insurers.”

The Government has recommended that business owners’ look to their insurance, but insurers suggest that policyholders are unlikely to be covered.

The Association of British Insurers has said that many businesses only have cover for interruption due to physical damage to business premises.

Some policies are written on specific non-damage basis – policy holders should check.

Where it is written on this basis, it has also been suggested that policies may exclude cover for pandemics; or there may be cover on a general basis but accompanied by a list of specific excepted diseases.

Are infectious diseases excluded?

“Some policies do exclude disruption due to infectious diseases, but the types of diseases may be listed in the wording and with Covid-19 only just being identified it is unlikely to be amongst specified exclusions.  It really is going to be down to the detail,” says John Habergham.

“We hope that businesses will find the support they need from their brokers, but this is a new and complex situation for the insurance industry.  We can assess policies to provide some clarity for business owners.”

Call us on 01482 485020 to find out how we can help.