We have been providing our clients with individual updates about how their insurance providers will treat claims linked to Coronavirus aka COVID-19.
We thought it might be helpful to provide a list of links in one place to the various insurers’ announcements.
Please feel free to share this link with anyone you feel it may be relevant to.
There is a general acceptance that pay outs for UK policies will be made should someone die or be long-term sick due to the illness. Please take a look at the individual link to the insurer you use to confirm their view about employees working abroad.
Our understanding is that it may be unlikely for a long-term illness to occur and Income Protection Cover often includes a waiting period before cover will be paid. This varies from policy to policy but often is around 13 weeks.
For Group Life Assurance, there is likely to be a reference to a Catastrophe or Event limit. These are typically the overall pay out limits for policies and tend to be much higher than the individual cover being provided to SME businesses, and even for larger organisations it is highly likely that the limits will be high enough for claims to be paid.
You can check the limit on your policy schedule from your insurer. In some cases, no limit will be mentioned it may be a generic limit that applies to all the insurers policies and information can be found in the policy terms and conditions.
Most Private Medical Insurers in the UK offer online GP services. Members can arrange appointments online or through an app if they have concerns or are worried about they may be showing symptoms.
The Association of British Insurers (ABI) has a useful Question & Answer section about other types of insurance, such as Business & Travel cover.