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Business Interruption Insurance claim


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My shop insurance through James Hallam was up for renewal at the end of March, when they contacted me with the renewal info they asked if I wanted to try for an insurance claim for business interruption. Yesterday I had a phone call with a loss adjuster from Allianz asking for info to process my claim!!

He explained that business interruption won't pay on named pandemic (section 3 i think??) as it's a new and unnamed  virus, but 1 in 10 policies are paying out on section 7 which is forced government closure.

This pays out maximum of £25,000 and is based on you gross profit for the term of the closure.

As I was told, only 10% of policies will have this so I am pretty lucky, but maybe worth a look through your policy just in case.

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55 minutes ago, Michael said:

My shop insurance through James Hallam was up for renewal at the end of March, when they contacted me with the renewal info they asked if I wanted to try for an insurance claim for business interruption. Yesterday I had a phone call with a loss adjuster from Allianz asking for info to process my claim!!

He explained that business interruption won't pay on named pandemic (section 3 i think??) as it's a new and unnamed  virus, but 1 in 10 policies are paying out on section 7 which is forced government closure.

This pays out maximum of £25,000 and is based on you gross profit for the term of the closure.

As I was told, only 10% of policies will have this so I am pretty lucky, but maybe worth a look through your policy just in case.

I'll take a look at that, but as my ins. docs. are not to hand it may have to wait a while.

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