Not sure if your insurance policy covers Business Interruption due to the Coronavirus?
We have teams of experienced chartered accountants, in-house legal teams and chartered loss adjusters who specialise in Business Interruption Claims.
If you would like Public Loss Adjusters to review your policy wording, without charge or obligation, we would be willing to assist you in determining whether cover for business interruption is available.
In the event that your policy is operative, we may be able to assist you in dealing with your claim.
Please fill in our BI Claim Check Form* and one of our experts will be in touch to see if we can help. If you can, please attach a copy of your insurance policy as this will help us to investigate more quickly.
*Due to high demand and low staff levels we are currently only offering a free policy check for businesses with a turnover of £10,000 per week or more. We apologise in advance if we cannot get back to you.
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Business Trading Name
Insurance Policy Document (This can be added later if you don't have it)
The majority of commercial property insurance policies provide, if selected, cover for business interruption. This provides protection to the insured for their loss of income following damage to the insured property by a covered peril i.e. storm fire etc.
This means that, in the normal course of events, there must be physical damage to the property for a claim to be accepted. There are, however, some exceptions.
Individual policies differ and it is therefore necessary to check whether they include any specific extensions which would include for losses due to notifiable diseases. This type of cover maybe applicable to hotels, care homes, restaurants etc. However, even then, there may be restrictions which apply limiting the cover to specified diseases only.
With regard to Covid-19 it would depend upon the particular policy wording as to whether liability would be accepted as this would NOT be a specified disease.
If you would like us to review your policy wording, without charge or obligation, we would be willing to assist you in determining whether cover for business interruption is available. In the event that your policy is operative, we may be able to assist you in dealing with your claim.
Business interruption insurance claims can be complex and the financial data they are based on is capable of differing interpretations. The claim is based on the projected earnings of the business during the indemnity period so it will be necessary to examine both the previous trend of the business and the factors that would affect turnover going forward.
The indemnity period is the period during which the earnings of the business affected. The maximum indemnity period is detailed in the policy usually based on either 12, 24 or 36 months. The indemnity period commences on the date of the incident and not the date on which the policy is incepted.
Public loss adjusters provide loss adjusting services to those making BI claims. You will have access to experienced chartered accountants, in-house legal teams and chartered loss adjusters who specialise in business interruption insurance claims management.
When you appoint Public Loss Adjusters to handle your claim our representative will as required, attend all necessary meetings to fully understand and establish the effect that the interruption is having on your business. In the current situation of the lockdown most of the separation work can be done over the net. Our loss adjusters are experts in interpreting financial data to determine the performance of your business with a view to ensuring that the value of your claim is correctly assessed.
PLA,s founder members have 75 combined years of experience in negotiating claims with insurers. When the time comes to discuss your final settlement, we will make sure that you received everything that you are entitled to.
PLA will not ask you to sign any contract mandate until we have reviewed your policy and insure you have cover. Upon further government advice, we may also be able to assist with Government business interruption insurance claims
Business interruption claim fees
£50,000 – £100,000, we charge 10% of the final settlement
£100,000 – £300,000, we charge 7.5% of the final settlement
*For BI claims only
Business interruption insurance is a type of cover for when your business can no longer operate due to disastrous consequences such as a fire, flood or most recently Coronavirus (COVID-19). Business interruption insurance may cover any losses that you have incurred due to said consequences.
Business interruption insurance claims are one of the most misunderstood claims in the industry. This is because policy holders believe when they take out normal property insurance it covers business interruption.
However, this isn’t always the case and has left some business with no cover at all. When your business faces interruptions from events that can result in losses, it can have dire consequences on cash flow for several months.
For businesses who have: a lot of stock, require expensive equipment or machinery to run, or covering the cost of staff, then claiming for business interruption could be the only way to ensure your business survives while trying to get back to normality.
The indemnity period is a time in which a businesses earnings are covered under the terms of an insurance policy. It Is a set period, usually 12, 24, or 36 months, where the insurer will cover the loss of income. When you take out business interruption insurance you will have to choose your maximum indemnity period.
You need to make sure your maximum indemnity period is a realistic time for your business to operate again independently. However, the longer the maximum indemnity the higher your premiums are so calculate this to the best of your ability.
If you have taken out business interruption insurance, then as a part of your policy there will usually be a material damage proviso. A material damage proviso is a standard part of any business interruption policy.
It is there to ensure that any building repairs or replacements can be paid for so the business can resume normal operation. This means that the business will be able to trade again before the insurance company pays out to cover and minimise any financial losses incurred during the indemnity period.
Thank you so much Michael even though these words are far less for you. Anyone who is thinking twice please don’t hesitate you won’t regret it you will be in best hands possible I promise you.
Thanks to them we got our claim and everything worked out. They are all so friendly and honest and always there for us when we needed them on the phone or in person. Thank you so much. Really appreciate what you did for us.
Within 1 month of being appointed, he had secured an offer 10 times greater than the insurance company's original offer to us in settlement. Very professional service throughout. I would thoroughly recommend PLA.
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Settlement Figure Higher in Most Cases
Option of Cash Settlement For 10% Fee
Details of Insurance Claim Including Cause
When Damage Occurred
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