Ecclesiastical statement on business interruption coverage

24 April 2020

We understand this is an uncertain and worrying time for organisations forced to close because of the Government’s measures to limit the spread of COVID-19.

Our business interruption insurance typically provides cover for loss of income through damage to buildings through events such as fire and flood, though in some instances it does also provide some cover following the occurrence of a pre-specified list of diseases.
COVID-19 is not included on the list of diseases covered by this insurance. This is because, in common with the majority of the market, our insurance policies are not designed and priced to cover pandemics. It would have made them unaffordable as it is simply not economically viable for an insurer to cover such widespread and unknown risks. 
We are working hard to support our customers through this difficult time where we can.   
We have made enhancements freely available to our cover to support customers, ensuring there are no changes to premium and policy cover for premises forced to temporarily close as a result of COVID-19.  We’ve also introduced an automatic extension in cover for 30 days beyond renewal to help protect businesses from becoming unintentionally uninsured. 
Alongside this, we are showing flexibility and support where logistical issues prevent payment and have produced guidance to help our customers manage their risks during this crisis.
Going forward, we are ready and keen to work with both the ABI and Government to find a viable solution so that pandemic insurance is available for all who wish to purchase it in the future.