Information for businesses affected by the riots on how to claim from insurers as well as from the police
The Association of British Insurers (ABI) estimates that the insurance industry will be liable to pay more than £200m following the recent riots in the UK.
If your business has been affected see the claims guide below:
- Notify insurers as soon as possible. Most policies policies require claims to be notified within a certain time period which can sometimes be very limited.
- Remember that more than one commercial insurance policy may be in play. Companies may have property terrorism insurance as well as a main property programme and may have to claim on both.
- Check if your company is eligible to make a business continuity claim. A standard property or property terrorism policy should include cover to protect continuity of the business following a disruption due to the occurrence of property damage.
- Check if your company has contingent business interruption cover. This type of insurance protects revenue streams where the policyholder’s business premises have not been damaged but a supplier or customer is unable to trade due to interruption.
- If a company’s premises have been damaged it should make a claim under the riot Act. The Riot (Damages) Act 1886 requires the relevant local police authority to compensate individuals and organisations for loss or damage to property as a consequence of a riot.The Prime Minister confirmed that the period to make claims had been extended from the normal 12 to 42 days.
- Even if a company has sufficient insurance coverage it should still submit a claim under the riot Act to the relevant police authority in addition to notifying insurers. Insurers are also entitled to compensation under the Act.
- Under the riot Act companies are not eligible to make business continuity claims or claims relating to damaged or stolen vehicles. This is the case unless the vehicle was inside a building affected by the riots.
Information for this claims guide was sourced from the UK government and the law firm K&L Gates.
Click here for more information on the riots from the UK government.
