Under the current circumstances, you might have some questions about your Business Insurance with Sydney Insurance Brokers amid the COVID-19 epidemic.
COVID-19 is classified as a Pathogenic Avian Influenza. It, and any other diseases declared to be a Quarantinable Disease under the Quarantine Act 1908 (Cth) are unfortunately a standard exclusion under most policies of Insurance.
Business Interruption, loss of profit Insurances do not cover COVID-19 and if you had a Fire or suffered damage from an Insured peril an Insurance company would reduce any loss of profits claim by any downturn in business.
Public liability insurance is generally rated on sales/turnover, so therefore your turnover should be reviewed and the premium accordingly.
Should you have to close your business temporarily, beware of the “Unoccupancy Clause” in all policies.
Please do not hesitate to contact our office, we are all fully informed and aware of the Insurance consequences of COVID-19.