Buildings should always be insured for the amount it would cost to rebuild them. However, fewer than one in ten commercial properties in the UK are covered correctly. Read our article for some guidance on this issue.
Clients with business interruption (BI) insurance can now refer to a policy checker provided by the Financial Conduct Authority (FCA).
Suitable insurance forms a vital part of business continuity planning – but how can you be sure that you are buying the right amount of cover? Here we share some top tips from ‘How to avoid underinsurance – A guide for small and medium-sized businesses’ produced by the British Insurance Brokers’ Association.
On 15 January, the Supreme Court handed down its judgment on the FCA’s business interruption test case. It remains the case that most SME business interruption (BI) policies are focused on property damage and only have basic cover for BI as a consequence of property damage, so are unlikely to pay out in relation to the COVID-19 pandemic and its effects.
It is important to distinguish between temporarily closed premises due to COVID-19 and previously longer terms unoccupied premises, the responses contained below are specifically for temporarily closed premises due to government guidelines and will not apply for premises that fall outside of the guidelines.
A post-Brexit trade deal could be sealed as talks between the UK government and European Union continue this week. Before the weekend, both parties said that ‘no-deal’ was the most likely outcome. Whether or not a deal is agreed, you should ensure that your business is prepared for operating under new rules.
If you suffer a large loss, your main priority will be to get your business back on its feet again as soon as possible but dealing with the insurance claim can be a complex and time-consuming process. Find out how Lorega can help.
It is now a legal requirement to carry a physical document known as a Green Card when driving in Europe.
COVID-19: Potential exposures to directors and senior managers 14, May, 2020 Claims culture and worker safety are hitting the headlines with some parts of the UK starting to return to work. Companies House data in February and March shows the emergence of 45 newly incorporated limited companies that contain the words ‘corona’ or ‘COVID’, with […]
Coming Back After COVID-19 14, May, 2020 COVID-19 has caused many businesses to shut down or transition their employees to work from home, disrupting daily work life for many. As stay-at-home regulations are scaled back and all businesses are allowed to resume as normal, your employees will be asked to come back to work. While […]