Coronavirus and insurance conspiracy
Discussion
I keep reading how Boris merely advised against visiting establishments rather than mandating that they close, so as to avoid any insurance payouts by 'his friends in the City' as the party indeed accepted donations from BIBA.
Today someone daubed 'Pandemic to Class War' on a local wall presumably in response to this (despire local publicans and restaurateurs having migrated from the Home Counties this effecting the gentrification so bemoaned by the same people).
However pandemic is the operative word thus forming an exclusion on many a business interruption insurance policy. Further there is the condition of 'notifiable disease' which I did not encounter during my brief stint in the industry.
Could someone please offer up the technicalities?
Today someone daubed 'Pandemic to Class War' on a local wall presumably in response to this (despire local publicans and restaurateurs having migrated from the Home Counties this effecting the gentrification so bemoaned by the same people).
However pandemic is the operative word thus forming an exclusion on many a business interruption insurance policy. Further there is the condition of 'notifiable disease' which I did not encounter during my brief stint in the industry.
Could someone please offer up the technicalities?
R Mutt said:
Yes it's lacking clarification on the standard business interruption exclusions in terms of communicable diseases. So are the idiots who keep spreading the fake news that it's Boris' fault that businesses won't be paid out
Apologies if I've just misheard a comment on Politics Live just now, but I believe an Insurancespokesman has just confirmed that business will in fact not be covered.
Only half listening so fully aware I could be massively wrong. Again.
gooner1 said:
R Mutt said:
Yes it's lacking clarification on the standard business interruption exclusions in terms of communicable diseases. So are the idiots who keep spreading the fake news that it's Boris' fault that businesses won't be paid out
Apologies if I've just misheard a comment on Politics Live just now, but I believe an Insurancespokesman has just confirmed that business will in fact not be covered.
Only half listening so fully aware I could be massively wrong. Again.
More now on the issue of whether venues in the UK can claim on insurance if they're not ordered to close by the government.
Pubs, restaurants and theatres in the UK are hitting out at Boris Johnson's advice to the public yesterday - telling them not to visit the venues, without ordering businesses to close.
Many from the entertainment industry say without a direct order from government, they will not be protected by their insurance.
But the Association of British Insurers claims most companies would not be covered anyway, even if there were to be a dictat from Downing Street.
In a statement, the organisation says: "Standard business interruption cover - the type the majority of businesses purchase - does not include forced closure by authorities as it is intended to respond to physical damage at the property which results in the business being unable to continue to trade.
"A small minority of typically larger firms might have purchased an extension to their cover for closure due to any infectious disease. In this instance, an enforced closure could help them make the claim.
"But this will depend on the precise nature of the cover they have purchased, so they should check with their insurer or broker to see if they are covered."
i4got said:
Your'e not wrong. On BBC site.
More now on the issue of whether venues in the UK can claim on insurance if they're not ordered to close by the government.
Pubs, restaurants and theatres in the UK are hitting out at Boris Johnson's advice to the public yesterday - telling them not to visit the venues, without ordering businesses to close.
Many from the entertainment industry say without a direct order from government, they will not be protected by their insurance.
But the Association of British Insurers claims most companies would not be covered anyway, even if there were to be a dictat from Downing Street.
In a statement, the organisation says: "Standard business interruption cover - the type the majority of businesses purchase - does not include forced closure by authorities as it is intended to respond to physical damage at the property which results in the business being unable to continue to trade.
"A small minority of typically larger firms might have purchased an extension to their cover for closure due to any infectious disease. In this instance, an enforced closure could help them make the claim.
"But this will depend on the precise nature of the cover they have purchased, so they should check with their insurer or broker to see if they are covered."
sMore now on the issue of whether venues in the UK can claim on insurance if they're not ordered to close by the government.
Pubs, restaurants and theatres in the UK are hitting out at Boris Johnson's advice to the public yesterday - telling them not to visit the venues, without ordering businesses to close.
Many from the entertainment industry say without a direct order from government, they will not be protected by their insurance.
But the Association of British Insurers claims most companies would not be covered anyway, even if there were to be a dictat from Downing Street.
In a statement, the organisation says: "Standard business interruption cover - the type the majority of businesses purchase - does not include forced closure by authorities as it is intended to respond to physical damage at the property which results in the business being unable to continue to trade.
"A small minority of typically larger firms might have purchased an extension to their cover for closure due to any infectious disease. In this instance, an enforced closure could help them make the claim.
"But this will depend on the precise nature of the cover they have purchased, so they should check with their insurer or broker to see if they are covered."
t. I was actually hoping I was wrong.So they're not covered anyway and this is fake news?
https://twitter.com/prodnose/status/12396933584880...
https://twitter.com/prodnose/status/12396933584880...
This is the problem with modern media. Everyone is sensationalizing what if's without knowing the facts and details. The only way a business is going to know if they have cover for business interruption is to check their policy wording - it will be different from policy to policy. We're an SME employing 45 people and are covered, this is our policy wording:
4 Disease, Murder, Suicide, Vermin and Pests Loss as a result of
A) closure or restrictions placed on the Premises on the advice or with the approval of the Medical Officer of Health of the Public Authority as a result of a notifiable human disease manifesting itself at the Premises.
4 Disease, Murder, Suicide, Vermin and Pests Loss as a result of
A) closure or restrictions placed on the Premises on the advice or with the approval of the Medical Officer of Health of the Public Authority as a result of a notifiable human disease manifesting itself at the Premises.
warp9 said:
This is the problem with modern media. Everyone is sensationalizing what if's without knowing the facts and details. The only way a business is going to know if they have cover for business interruption is to check their policy wording - it will be different from policy to policy. We're an SME employing 45 people and are covered, this is our policy wording:
4 Disease, Murder, Suicide, Vermin and Pests Loss as a result of
A) closure or restrictions placed on the Premises on the advice or with the approval of the Medical Officer of Health of the Public Authority as a result of a notifiable human disease manifesting itself at the Premises.
So one of your staff has to test positive?4 Disease, Murder, Suicide, Vermin and Pests Loss as a result of
A) closure or restrictions placed on the Premises on the advice or with the approval of the Medical Officer of Health of the Public Authority as a result of a notifiable human disease manifesting itself at the Premises.
Maxf said:
warp9 said:
This is the problem with modern media. Everyone is sensationalizing what if's without knowing the facts and details. The only way a business is going to know if they have cover for business interruption is to check their policy wording - it will be different from policy to policy. We're an SME employing 45 people and are covered, this is our policy wording:
4 Disease, Murder, Suicide, Vermin and Pests Loss as a result of
A) closure or restrictions placed on the Premises on the advice or with the approval of the Medical Officer of Health of the Public Authority as a result of a notifiable human disease manifesting itself at the Premises.
So one of your staff has to test positive?4 Disease, Murder, Suicide, Vermin and Pests Loss as a result of
A) closure or restrictions placed on the Premises on the advice or with the approval of the Medical Officer of Health of the Public Authority as a result of a notifiable human disease manifesting itself at the Premises.
warp9 said:
This is the problem with modern media. Everyone is sensationalizing what if's without knowing the facts and details. The only way a business is going to know if they have cover for business interruption is to check their policy wording - it will be different from policy to policy. We're an SME employing 45 people and are covered, this is our policy wording:
4 Disease, Murder, Suicide, Vermin and Pests Loss as a result of
A) closure or restrictions placed on the Premises on the advice or with the approval of the Medical Officer of Health of the Public Authority as a result of a notifiable human disease manifesting itself at the Premises.
4 Disease, Murder, Suicide, Vermin and Pests Loss as a result of
A) closure or restrictions placed on the Premises on the advice or with the approval of the Medical Officer of Health of the Public Authority as a result of a notifiable human disease manifesting itself at the Premises.
Good points.
anonymous said:
[redacted]
If this point is directed at me... At this point, to our knowledge, indeed none. We've been following basic hygiene practices for the last 3 weeks and have had 2 staff that have phoned 111 due to concerns, both of which were deemed common colds and low risk. However the net is closing in. I'm aware of 3 staff that know of 'a friend of a friend' that has it. I expect in the coming days/week for someone here to be infected.
warp9 said:
This is the problem with modern media. Everyone is sensationalizing what if's without knowing the facts and details. The only way a business is going to know if they have cover for business interruption is to check their policy wording - it will be different from policy to policy. We're an SME employing 45 people and are covered, this is our policy wording:
Yes celebrities (Danny Baker) and MPs (David Lammy) are making the explicit claim that businesses would be covered if only the Prime Minister would force them to close.But if the powers that be are telling the general public to avoid XYZ places until further notice, surely with out any financial help from the the powers that be, thats just going to cause mass unemployment and businesses going to the wall left right and centre.
Shutting schools means parents of work unpaid (some i know) avoiding certain outlets of enjoyment will mean staff not getting paid/laid off.
Zero hour contracts those people are going to be the first to go.
Surely instead of drip feeding closures and avoidance measures its time to just shut up shop like the rest of the world?
Im not clever enough to tell you how it could work but to me the "plan" at he moment is just to drip feed the country in to a world of st.
Shutting schools means parents of work unpaid (some i know) avoiding certain outlets of enjoyment will mean staff not getting paid/laid off.
Zero hour contracts those people are going to be the first to go.
Surely instead of drip feeding closures and avoidance measures its time to just shut up shop like the rest of the world?
Im not clever enough to tell you how it could work but to me the "plan" at he moment is just to drip feed the country in to a world of s
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