Firms hit by winter weather
Although much of the snow has now melted, forecasters are warning that adverse weather will continue until the end of January.
The continuity specialists at Cowens Survival Capability have advised businesses to ensure that trading interruptions due to severe weather are covered by up-to-date insurance policies, to minimise the financial impact of prolonged severe weather.
Two out of every three businesses making an insurance claim fail within two years due to inadequate coverage, according to Cowens SC.
Director Stuart Williams has lamented the common lack of awareness between low-cost and value insurance, with many companies having inadequate insurance to cover their needs.
The recent winter weather has affected a large number of people, with Hiscox reporting many trade fairs and conferences have been cancelled due to inaccessibility.
Elsewhere, ARAG Legal Services has seen a surge in emergency home assistance calls, and although the snow is melting it has now led to floods in some areas.
Category: Insurance News
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