Aqueous makes pandemic lockdown unoccupancy cover standard to future-proof policies
In light of the confusion around business interruption pandemic cover, UK's specialist managing general agent (MGA) Aqueous Underwriting has permanently removed a raft of exclusions from its policies, making lockdown unoccupancy cover as standard for all its hospitality and leisure sector customers.
This means that businesses forced to temporarily close to comply with Government restrictions will remain covered for claims, including material damage, theft and escape of water, at no additional cost.
The cover will be triggered automatically in the event of a new lockdown of any duration, without the need for the broker or insured to request it.
As part of its coronavirus pandemic response, Aqueous will also provide free employers, public and products liability insurance to any existing SME customers, enabling them to switch to providing takeaway food and drink services during future lockdowns.
"Our new standard cover aims to future-proof our policy for our customers, as pandemics and the associated lockdowns may well be a more regular occurrence," said Tom Hill, executive director at Aqueous.
Hill hopes that the new offering will help business owners as they try to weather the impact of a pandemic both now and in the future.
“Some commentators have cast doubt on the value of commercial insurance in a pandemic, particularly in light of the business interruption confusion," he explained. "We believe that by taking this action we are taking a step to filling any perceived value void and helping to redress the balance in public opinion."
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