Coronavirus - Business interruption issues
22 April 2020
04 December 2020
Damian Glynn BA (Hons) FCA FCILA FUEDI ELAE FIFAA, Director, Head of Financial Risks, Sedgwick International UK
Examining the impact of submitted and ongoing business interruption claims during the coronavirus pandemic.
Every day we watch the number of positive cases of coronavirus rise in the UK with other areas of the world struggling to control the epidemic. The UK is now in a state of lockdown and businesses across the country are struggling.
What are the issues likely to impact on claims submitted in respect of the coronavirus?
What will it mean for ongoing business interruption claims that pre-date the pandemic?
Damian Glynn, an industry recognised expert in the field of business interruption highlights issues that may need to be considered.
- Damage at the premises
- Notifiable disease at the premises (or within the policy prescribed radius)
- Act of competent authority
- Suppliers’ / customers’ extensions
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.