X

Contact Kirk Rice

Kindly complete the form below to send an enquiry. Your message will be sent to one of our Accountants or Financial Planners who will respond to you within 24 hours.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service
X

Request Appointment

Please complete this form to request an initial appointment at our cost.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service
X

COVID-19 Information Hub

Coronavirus Guidance – Business Insurance

The sudden changes to the economic environment (and virtually every other factor affecting the business environment) arising from the Coronavirus pandemic has raised inevitable complications and queries regarding insurance.

Updated 23/03/20

Government guidance:

Businesses that have cover for both pandemics and government-ordered closure should be covered, as the government and insurance industry confirmed on 17 March 2020 that advice to avoid pubs, theatres etc. is sufficient to make a claim as long as all other terms and conditions are met.

Insurance policies differ significantly, so businesses are encouraged to check the terms and conditions of their specific policy and contact their providers. Most businesses are unlikely to be covered, as standard business interruption insurance policies are dependent on damage to property and will exclude pandemics.

Kirk Rice commentary:

We recommend reviewing your insurance policy and speaking to your provider for further details.  Credit insurance may payout if you suffer a bad debt, but this will usually require your customer/client to enter into a formal insolvency procedure.

It is unlikely that you will now be able to obtain additional insurance cover for business interruption or credit insurance. Using a professional insurance broker may provide valuable benefits.

We’ll be updating this page for the answers as and when they become available, so please, do check back regularly for further information.

Got a question? Ask us using the form below.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service