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.
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.
The Financial Conduct Authority (FCA), the UK’s financial conduct regulator, brought court proceedings in July 2020 to test how certain business interruption insurance policies respond to claims arising from COVID-19.
As the impact of the Coronavirus outbreak begins to directly impact more businesses, the Government and other bodies are taking steps to ease the pressure on Small and Medium-sized enterprises (SME). To help you access all the available support, we have compiled a list of recent updates and the latest advice for SME businesses affected […]
The spread of the COVID-19 Coronavirus is beginning to affect every element of daily life and commercial activity. Many businesses will suffer from the precautions and impositions that have been put in place in order to prevent the spread of the Covid-19 virus, and it is fair to ask, ‘Am I covered?’ The wordings and […]
CORONAVIRUS GUIDANCE There have now been over 80,000 cases of coronavirus – also known as Covid-19 – around the globe, and sadly more than 2,500 deaths. And while the vast majority of cases so far have been in mainland China, the World Health Organisation says the majority of new cases are now being seen outside […]