Maintaining Continuity of Insurance

We are living in unprecedented times and we hope you, your staff and wider family keep and remain safe.

We have already communicated that Willis IRM has a robust Business Continuity Plan and our priority is to ensure client continuity as well as the health and safety of our staff. At this challenging time, we will be here to provide support and service to your business and will be issuing regular advice and guidance bulletins.

More than ever it is key that you speak to us and seek advice on any planned changes to your business, so we can provide the professional advice to ensure you maintain appropriate cover.

It is essential that you protect the physical assets which your business has built and established over many years. The continuity of insurance to protect those assets, along with your ongoing legal liability to staff and the public must be maintained.

We are working with insurers to ensure they show flexibility and help us all through this period of uncertainty but there are certain areas we would like to highlight, should they be relevant to any part of your business:

• Unoccupied Buildings – Most insurers will apply conditions if your property becomes unoccupied. If you need to temporarily close buildings, please advise us so we can work with insurers to maintain your cover. Whilst we can offer you bespoke advice for your particular business, please click on this link from Zurich for generic practical advice around the security of your premises.
• Changes to your business operations – If you are planning to change aspects of your business, to manufacture or supply different products or services please advise us so we can ensure the appropriate cover is in place and you receive the best advice.
• Continuity of Insurance Cover – It is important to maintain the continuity of your insurance cover to protect your assets and liabilities. However, in addition, if your insurance lapses and you look to seek new cover after this crisis passes it may be more difficult to obtain the same cover at the same premium as Insurers may treat your business as a new venture. Whilst you would still have to disclose past claims there are fewer insurers who may be willing to quote for new or re-start business. If your business is facing challenges, please speak to us so we can work with insurers to maintain your cover.

This crisis will pass and hopefully your business will have the resilience to emerge through it. We want to be there at every step for you to make that happen.