The impact of Coronavirus on your Insurance Policies

The worldwide pandemic of Coronavirus (Covid-19) is currently impacting on everyone and every business. Whilst families are on lockdown unable to see grandparents and friends, and parents home school children, many businesses have been forced to temporarily close or adapt the way they carry out business whilst their teams work from home and no travel is allowed.

If coronavirus has impacted on your family and/ or you are suffering from health or financial difficulties, then we would encourage our clients to contact us as soon as possible. Within the insurance industry there are several temporary options available to assist you for continuity of cover and peace of mind.

The two aims set by the Financial Conduct Authority (FCA) are to minimise the impact of temporary financial distress and ensure that clients continue to have insurance the meets their demands and needs.

How BDHL can help:

·        We will re fact-find our clients and discuss how coronavirus is impacting on your family / business.

·        We will consider if the current insurance products you have are a correct fit for your family / business and in some cases may offer an alternative that better meets your requirements.

·        We will work with our clients and the insurers to maintain where possible continuity of the policy, underwriting and ongoing claims. We will look at cost containment options and/or payment deferrals to avoid the cancellation of a policy in its entirety.

·        In the case that a policy needs to be cancelled then we will look to work with our clients and the insurer to waive the insurer cancellation fee or late payment fee.

·        We will inform our clients of the services that the insurers have put in place during this pandemic as well as the value-added services for example virtual GP services, ordering prescriptions online that can be delivered straight to the door. As well as virtual gym classes and money off amazon prime subscriptions.

·        We can assist if you need to make a claim or provide you with insurer contact details for example if you have an employee assistance programme (EAP) we can confirm the telephone number.

At BDHL the health and wellbeing of our team, our customers and our friends is our top priority. We are closely following the Government advice around Covid-19 and are continually updating our business practices as the situation continues to unfold.

We would like to reassure our clients that we have taken all possible measures to support you and your employees and families during this uncertain time. With our team all working from home with access to emails, telephone calls and virtual meetings it is business as usual. Our telephone line remains open as usual – should you have any questions or needs us then please do not hesitate to call the office on 01892 891900.