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

As the Government has started to ease the Lock down, there will be more and more people returning to work. Please download the file below as this will provide lots of information about employees returning to work how to do this in a safe manner so that it follows the Government guidelines.

This document has been created by Broker Network, which Schofield Insurance Brokers was a founding member of, and includes things such as Five key questions to consider, Implementing a phased return, What to do if a member of staff is sick with the virus after returning to work, a hygiene and cleaning checklist as well as much more

Cover in standard insurance policies is usually triggered by damage to property and so in the majority of cases insurers are unlikely to be obliged to pay out in relation to a pandemic. However could the presence of a virus constitute damage?

In other cases a policy wording covers the insured’s inability to use the premises as a consequence of a government order following the occurrence of a notifiable disease at the premises or nearby, known as non-damage denial of access. Could such an extension apply?

Whether there is cover or not will depend on a number of factors though in all cases the specific wording of the policy is key. The range of wordings and types of coverage are sufficiently broad in the business interruption market that it is difficult to determine at a general level the degree to which any policyholder may be able to claim.

According to the Interim Chief Executive of the F C A, they believe that there are a number of policies where the insurer has an obligation to pay out and so we at Schofield Insurance Brokers would be happy to refer any potential claim to the insurer concerned on your behalf and offer support where we can.  

If you have any queries regarding your own policy coverage please do not hesitate to contact either your own account executive on their usual number or the claims team on 0113 250 0377.