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25 March 2020
At NIG, we are working hard in these extraordinary times to ensure our brokers and customers receive the service they need.
We want to keep you up to date so you can respond to your clients' queries about our cover. Please find below the answers to some of our most recent enquiries.
Is Business Interruption due to COVID-19 covered with NIG's policies?
Various Government statements, as well as media coverage, have understandably created a great deal of confusion about the general insurance provision of Business Interruption Insurance, and how it applies during this pandemic.
To clarify, COVID-19 is NOT covered under our standard Business Interruption policies. The various extensions within Business Interruption provide cover as follows:
The Government is providing additional support and guidance for businesses which you may find helpful. See here.
What do I do if my client's business and/or premises is forced to close and becomes temporarily unoccupied?
The recent Government announcement means more businesses will close and many will be working from home. Therefore, many more properties will be unoccupied for the next few weeks, and potentially beyond.
Within NIG's standard policies, cover will continue to be in force for any Commercial premises temporarily unoccupied for a period of up to 30 consecutive days, and 90 days for premises insured under our Property Owners contract. From 24th March 2020, we are extending this period to 90 consecutive days for Commercial premises and maintaining the same period of 90 days for Property Owners temporarily closing during to COVID-19, before we ask to be notified. For any clients whose premises is going to be out of use for longer than this, you need to notify us using your normal NIG contacts.
Any building left unoccupied naturally poses a greater insurance risk and we therefore need businesses to take the following additional measures for the above extension to apply:
Is my client covered when taking their contents/stock home?
As we are all being encouraged to work from home, we would remind clients that the Temporary Removal extensions within our policies will apply for any Business Contents Risks to the limits stated where employees are working from home with Business Equipment.
Similarly, we understand clients may wish to move stock to employees' homes due to a closure as a result of COVID-19. This would probably be safer than leaving the stock within an unoccupied property. In these cases, we shall deem policies to have the Third Party Storage Sites extension, and that for the duration of the crisis this is operative on all policies where a Material Damage section is included.
With school closures, is my client covered if allowing employees' children into the workplace?A Business HR Policy will need to dictate what their employees can and cannot do with their own children while on site. Public Liability insurance will continue to be in place without additional terms, subject to:
Note the Policy excludes abuse cover.
We are ready to adapt during these uncertain times, and we are doing all we can to support you as you go about your business. We thank you for your patience and understanding during these trying times.
Let's all work together to provide the service and support our clients need.