As the Novel Coronavirus (COVID-19) outbreak continues to spread it’s understandable that businesses are concerned throughout the UK and the World.
It’s also not surprising that businesses are now preparing for any potential impact on their operations. This includes the potential for business interruption, due to the presence of the virus on their premises, employee absenteeism, or supply chain disruptions.
We have received enquiries as to whether there is any insurance cover for this occurrence. On 4 March, the government upgraded Coronavirus Covid-19 to an infectious disease. What this means is that it may be possible that you have some cover against Covid-19 under the infectious diseases part of your policy.
Coronavirus and insurance considerations
One question being raised is whether insurance coverage might respond to virus-linked losses. This will be dependent on each policy wording, and whether the facts of each case, trigger coverage provisions.