Covid 19- How will this affect your business and Insurance?
Updated: Apr 1, 2020
I’m sure you’ve heard everything there is to know about the Coronavirus and how it has become a pandemic with such a huge economical strain. But when it comes to your business, or getting insurance to protect you from this pandemic, I’m sure you're keen to find out more! As the coronavirus continues to grow, so do the concerns of business owners and employees. Are you looking for insurance to protect your employees and the business? Talk to our team today to find out more!
The Coronavirus originated in Wuhan, China and has rapidly spread across the border killing hundreds and thousands of people worldwide. As a result of this, countries across the world are beginning to go into isolation as an attempt to stop the spread of the virus.
It’s been said that coronavirus won't peak in the UK until late April and as a result of this business’ worldwide need to be prepared for legal concerns in the workplace. This will vary depending on each country's requirements and how far your company needs to plan ahead to ensure it won’t be hugely affected by this Pandemic.
So, you’re probably thinking how is this going to affect my business?
Businesses, large and small are going to experience some form of interruption due to the global outbreak of the coronavirus. For many, this outbreak affects production, revenue and supply. Many businesses have the security from their business insurance,especially through policies which will guide them through this economic crisis. Our advice is to thoroughly read through the terms and conditions of your insurance contract and make sure this protects you from communicable diseases.
The employer should inform all employees that they’re monitoring the outbreak and are willing to prioritise their health and safety in the next coming months. If you find that you have any of the symptoms such as a Fever, Cough, Shortness in Breath or in fact any respiratory issues. Please take into consideration your own health and those around you whom you may affect, self-isolation could stop the spreading of the virus.
It’s also recommended that if you have been in contact with anyone with symptoms to stay at least 1 metre away from everybody, or self isolate and stay at home.
Studies have shown that each person affected, can pass along the symptoms to 2-3 other people, resulting in the disease spreading even further. If you don’t have the symptoms, this doesn’t stop you from being a carrier and passing it along to those around you.