The FCA have recently issued final guidance - Coronavirus and customers in temporary financial difficulty: guidance for insurance and premium finance firms, that requires that firms should make clear in their communications, including on their websites and apps, the different options available to customers, and encourage them to make contact if they are experiencing temporary financial difficulty as a result of coronavirus. Firms should make it as easy as possible to contact them, and consider the needs of customers with different communication needs (EG those needing to communicate through channels other than telephone) to ensure all customers that need help can access it easily.

At SIB we have recently completed our workplace Risk Assessment via LIghthouse Health & Safety Consultants. Like most employers we wanted to ensure our employees will be returning to work in a safe environment and for us we felt it essential to have that carried out by an independent specialist provider.

Has your business insurance broker been able to reduce your insurance expenditure during lockdown?

Will they be able to help your business bounce straight back to work, negotiating insurance premiums to help your businesses survival?

Schofield Insurance Brokers has been actively helping our clients protect their businesses, see examples below:

• Reducing insurance costs through cover streamlining (alterations to premium rates based on reduced turnover, wage roll and vehicle numbers)
• Negotiating with Insurers against attempts by them to increase premiums at renewal
• Re-assessed risk profiles to ensure insurance keeps pace with operational changes (those businesses experiencing ‘shutdown’ have removed unnecessary covers such as Excess Employers Liability and Travel covers)
• Raising awareness of the increased threats to businesses due to operational changes, and helped ensure clients avoid breaching their policy conditions
• Provided expert opinion on the likelihood of particular policies responding to Coronavirus-related losses
• Launched a dedicated online Coronavirus Resource Library on our website, containing continuously updated guides and other resources to help businesses
• Assisted our clients with the various Government schemes

Throughout this difficult period Schofield Insurance Brokers have been on the front foot talking to all our clients and helping through this most challenging of times.

If you would you like some assistance, please give us a call on 0113 250 0377