Insurers and brokers are already receiving a significant number
of queries and starting to see a rise in the number of claim
notifications as a result of the COVID-19 pandemic.
Whether you are an insured business or an insurer, you should
examine the precise wording of all insurance policies at this time
to determine the level of cover (if any) they provide during this
pandemic.
Here are some issues to consider as a starting point:
Business Interruption
Where a business has closed to avoid putting its staff and
customers at risk, or has effectively been shut down at the request
of the Government or public health authorities, it should carefully
review its insurance policy to see whether it has "business
interruption" insurance and whether the wording of the policy
covers the current situation. Even if business interruption is
covered under its policy, there may be conditions attaching to its
application, limits on the amount of cover or a prescribed
mechanism
