The Association of British Insurers is strongly urging businesses to double-check the details of any...
The Association of British Insurers is strongly urging businesses to double-check the details of any reporting requirements contained in their insurance policies ahead of the pending strike by firefighters across the UK.
Because business insurance policies are often drawn up on a bespoke basis there may be clauses that mean the insurance company concerned must be told in advance of any potential increase in threat or risk factors.
A strike by fire services personnel is likely to increase the risk of fires damaging business properties, but it may still be up to policyholders to make their insurers aware of this risk despite the massive publicity surrounding the issue.
An ABI spokesman says this may be especially true of high-risk businesses, such as - but not limited to - those involved in handling explosives, which is why the association is urging businesses to get in touch with insurance advisers or directly with their own insurance companies.
ABI members are meanwhile gearing themselves up for a possible increase in payouts.
The ABI confirms that during the last strike by fire services - in the so-called winter of discontent - there was an increase in claims due to fire damage.
The Metropolitan Police force is unable to confirm any figures for arson attacks during that period as its statistics do not go back that far, according to a Met spokesman.
£1bn business since inception
Considered doing so in 2015
Client communication considerations
Aviva: ‘We are sorry’
FOI from Professional Adviser