Due to the worldwide spread of COVID-19, most UK businesses face potentially significant, but as yet unquantifiable, financial losses from the virus. The same can be said for insurers who are being presented with a large volume of claims across most classes of business.

Some insurance policies may not be triggered at all, or equally could provide inadequate cover to meet extensive business losses. Specific terms and conditions of insurance policies will determine whether COVID-19 events are covered. Policy notification and ‘general precaution’ requirements are also vital.