Increase in unoccupied commercial properties due to Covid-19 Many businesses in the UK and around the world have remained closed due to government directives and restrictions imposed following the COVID-19 lockdown, leaving large numbers of businesses and commercial buildings vacant. Whether temporary or permanent, unoccupied buildings are more vulnerable to water leaks, arson, vandalism and theft. Even after businesses reopened, many employees and businesses continued to work from home. This also results in commercial buildings being unoccupied. If your commercial buildings remain closed, you must respect the vacancy conditions of your insurance policy. The wording of your policy should contain the specific requirements set out by your insurance. Most policies state that you will not be covered if you violate these conditions. According to Retail Gazette magazine in one of its articles: “With the UK going in and out of lockdown since March of last year, thousands of stores [...]
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Working in sheds and garages during the pandemic poses an insurance risk Our habits have changed since the arrival of the Coronavirus and many people now work from home. Some have even converted their sheds, garages, or summerhouses into offices and according to an insurer's statement more and more people expect to do so. According to a survey conducted by the insurance company Aviva, the proportion of people that are incorporating a dedicated office in the home is also increasing. This is convenient but risky at the same time because some workers may not be covered by home insurance in the event of a problem. Most people choose to fit out their homes and work in what is called Shoffice. Get a Quote Insurance under one roof We are specialists in many types of insurance [...]
Why Directors And Officers Liability Insurance For Blocks of Flats Is Essential? Mistakes made by officers and directors can be held against them, and they should understand and be aware that the law applies to everyone even if you are the director or officer of an RMC, an association of residents or of an RTM company and that of a large company. Despite this, there are still those who do not consider protecting their personal wealth with directors and officers’ policy. The directors and officers of an RMC, a residents' association or an RTM company are those who are covered by directors' and officers' liability insurance also known as management liability insurance, which protects them from errors or mistakes allegedly made in the management of the building for which they are responsible. This also includes legal defense and costs and awards made against them. Get a Quote [...]
What is unoccupied commercial property insurance? Jackie De Burca So, Robert, for those of us who need an introduction about unoccupied commercial property insurance, can you explain please? Robert Fisher Certainly. So, unoccupied commercial property insurance- basically, it is what it says on the tin, I suppose, but there are a few key elements to it that differ slightly from an occupied commercial property insurance product. The main ones being that, firstly, the cover is less, and normally the premium is more. So, that's the main essential part to an unoccupied product. When I say the cover is less, you have all of your standard perils or causations. For example, fire and flood, malicious damage, storm, whatever it may be- theft, all the usuals. So you have those on a normal policy, but for an unoccupied commercial policy, your coverage is limited to fire, lightning, earthquake and explosion only. [...]
Working from home insurance and other concerns The health crisis we are going through has forced many employees to switch to 100% teleworking, sometimes in far from optimal conditions. As the majority of workers have always been used to working in offices, this has come as a shock to many. For managers and employees, this presents major challenges. Questions arise around the challenges, and it is also necessary to consider issues such as working from home insurance. The costs associated with working from home Before the lockdown, the majority of companies said they did not feel ready to implement the changes related to teleworking. In the rush, they had to get started. Even if the current crisis may have removed some brakes, the list of obstacles is long and often linked to costs. Confusion: the training of managers, the cost of training for all (sales team, tools, modes of [...]