At LHK the health and well-being of our teams and of our clients remain our primary concern. As we put our business continuity plans in place and find a new approach to working, we want you to know that service continuity is our priority.
What we are doing for our General Insurance clients
We have written to all our key trading partners and are seeking:
- Premium rebates for those businesses that have been forced to cease trading as a result of Covid-19, for “operational risk”.
- Agreement to adjust premiums mid-term based on re-forecasted wages and turnover.
- Increased flexibility on payment.
- Suspension/freezing of finance payments where necessary.
We have also engaged with Insurance Ireland, Brokers Ireland, IBEC and Government with proposals to utilise insurers to distribute emergency payments, to cover business interruption for businesses currently closed or impacted by Covid-19.
It is however important to note that Property Damage/Business Interruption covers will need to remain in place along with an element of liability cover, to protect against the following potential claims:
- Employees injured whilst working from home or at the business premises whilst doing essential manual work, such as cleaning, maintenance, security, groundsmen or garden/outside upkeep.
- Persons (including subcontractors) injured whilst carrying out maintenance or upgrade work at the business premises or delivering to the premises and/or injury to trespassers at the business premises.
- Injury to other persons or property from anything related to the building. This could include falling roof tile, wall, burst pipes, oil tanks or spread of fire causing damage to other property or persons.
We are acutely aware that the Covid-19 outbreak is having a serious negative impact not only for our clients but the Irish business sector as a whole. The LHK team is here to support you as best we can. Please feel free to contact any of the team should you have any concerns regarding your insurance policies.
Colm M. Kelleher