Riot victims, speak to your broker
Aug 9, 2011
The recent riots/civil commotion, which started in Tottenham on Saturday and have since spread across London and beyond, have caused a massive amount of damage to both residential and commercial property and disruption to many businesses.
It may be too early to assess the exact level of damage caused over the three nights but it is important to remember that the definition of the disorder, and how it is categorised, may not always affect the cover provided to businesses or individuals.
Most household insurance should cover looting, damage or fire, and, if the property is uninhabitable, the alternative accommodation costs could be covered as well.
Commercial policies can also provide cover for damage and financial loss due to business interruption e.g. if trade is affected but no damage has been done to the property.
Richard Blackburn, Wilby Ltd Managing Director, commented “It’s important that anyone affected speaks to their Broker or Insurer about the situation. Our thoughts are with business owners and residents who have recently been affected and our advice and support is always available especially in difficult times.”
Graeme Trudgill, The British Insurance Brokers' Association Head of Corporate Affairs, said: “We want to do everything we can to help those affected. It is important for people to contact their insurance broker to arrange for immediate help and support and to make the affected property as secure as possible.“
The Association of British Insurers (ABI) has stated “Insurers are working as quickly as they can to deal with claims. However, access to dangerous buildings, which are also crime scenes, is a serious issue. It is too early for us to have an accurate picture of total costs, especially business interruption costs, but insurers are expecting significant losses.”
For further information you may wish to visit:
Or contact us on 01422 358525 or info@wilbyltd.co.uk
