In light of the ongoing COVID-19 crisis, we are issuing this Newsletter to update our clients on how Insurance Services Surrey are operating and share advice from the insurance market regarding cover.

How we are operating

Our technology allows our staff to operate from home with access to both computer systems and telephones. We appreciate that this is a worrying time for all business owners. Please be assured that all our staff are set-up to help you in the usual way. Please continue to telephone our main switchboard (01483 532921), or email your usual contact or enquiries@insurancesurrey.co.uk.

Insurers are in the process of adapting to new ways of working, which is leading to longer response times. Please do notify us of any changes required to your insurances, or renewal information requested, as early as possible, to enable us to best help you.

Commercial Insurance

The majority of insurances arranged for organisations in the UK do not include any provision to cover losses sustained as a result of COVID-19. Business Interruption insurance is principally designed to cover the extra costs of working or loss of profit (depending on the cover selected) following physical damage to property or stock. Insurers generally take the view that an epidemic or pandemic is a systemic, governmental risk (like war), rather than an insurable fortuity for a particular business. Some Gross Profit or Gross Income Business Interruption policies do extend to provide a limited cover benefit in relation to the authorities closing-down premises due to a specified list of notifiable diseases, however these do not extend to include new, previously unknown diseases such as COVID-19. There are a handful of exceptions under insurance packages for a small number of specialist businesses or charities and we will be happy to advise further on this.

If you hold Business Travel Insurance with us, please let us know if you have needed to cancel any business trips as a result of Foreign & Commonwealth Office (FCO) advice not to travel. Travel insurers will expect policyholders to exhaust all options to obtain refunds from airlines, hotels and other providers before settling claims. We will work with insurers to ensure claims settlements are made as quickly as possible.

Any trips that you or your staff continue to make to anywhere where the FCO advises against any travel, or all but essential travel, will not automatically be covered by travel insurance.

Regrettably, travel insurers generally are either pulling-out of providing any new quotations for cover or are doing so, but excluding cancellation resulting from COVID-19. We will be happy to advise on any concerns you have about this.

Your plans

Please do remember to let us know if:

• your premises are going to be unoccupied. Most policies include a requirement to notify insurers and to carry out certain precautions if no-one is regularly going to be present during your normal business hours for an extended period, usually 30 days or more
• you need cover for business equipment away from the premises.

Organisations will also need to ensure that appropriate health and safety risk assessments are undertaken regarding home-working and also if children are to be brought into the workplace as a result of school closures. Staff working from home may also need to inform their own home insurers that this is the case. This is especially important if they are likely to receive business visitors.

We do understand that these are challenging times and we are available to answer your queries regarding insurance cover.

Best regards,
The Insurance Services Surrey Team

PO Box 1533
Woking
GU22 2RY

Insurance Services Surrey is a trading name of Insurance Services (Surrey) Ltd, authorised and regulated by the Financial Conduct Authority.