Q: Is Coronavirus or COVID-19, an insurable event and can your client claim under the Business Interruption section of their commercial policy?

In most commercial policies (if selected) Business Interruption cover is typically triggered following “direct physical loss of or damage to” insured property by a defined event under Fire, Buildings or Office Contents.  

If selected as an optional extra, Hollard will provide Business Interruption cover for “Loss following interruption or interference with the business in consequence of contagious or infectious diseases occurring at the premises” – please refer to Page 55 in the ‘Other Events‘ section of the Hollard Commercial Policy Wording for the full description.  

What can you take from this?
Through Hollard, we are able to provide cover for losses caused by “communicable or infectious diseases” without requiring an authority to declare an emergency and without “loss of or physical damage” to the insured’s property by a defined event.

Let’s chat. Knowledge is power. 

For more info, send us an e-mail or call us on 087 233 8770.