Coronavirus: Business Insurance - further guidance from the ABI

A spokesperson from the Association of British Insurers said:

“The spread of Coronavirus is unprecedented in modern times and we understand this is an incredibly difficult time for families and businesses. 

“Standard commercial insurance policies – the type the vast majority of businesses purchase – provide cover against a wide range of day to day risks including damage caused by fire, flood, theft and accidents involving employees. 

“Insurers pay out £22m each day to firms through these policies, supporting millions of businesses across the UK each year. 

“Only a very small minority of businesses choose to buy any form of cover that includes local closure due to an infectious disease. 

“An even smaller number will have cover enabling them to potentially claim on their insurance for the presence or impact of the Coronavirus pandemic.  The Government’s clarification yesterday will help some of these policyholders claim if the other terms and conditions of the policy are met. 

“We strongly recommend that every business should check with their insurer or broker if they wish to confirm the type of cover that they have purchased.” 

Notes for Editors 

Enquiries to: 

Malcolm Tarling                        020 7216 7410    Mobile: 07776 147667 

Laura Dawson                          020 7216 7338    Mobile: 0772 5245838 

Su Crown                                    020 7216 7412    Mobile: 0772 5245297  

1. The Association of British Insurers is the voice of the UK’s world leading insurance and long-term savings industry.  
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