Several insurance brokers and two insurance companies have advised that business disruption insurance cover will not cover a business for COVID-19 related disruption.
If you are not sure, call your policy issuer.
This matters so that you factor the lack of insurance into your cashflow planning for the next few months.
No surprise there. Last year our shop was closed for 4 days after Telstra and NBN completely cut the business off with no internet, no phones, no business. The insurers declined a claim and said nbn or telstra were responsible. They blamed each other.
NBN never accept any fault. And we no longer bother with interruption insurance as the first time we ever needed it, no joy.
I am not sure of the details however I have information form newsagents that Nana’s Insurance arm covers this situation.
It may be prudent to contact them just to see if it suits your needs much better than taking a risk.
Graeme, unfortunately no. I contacted our insurer Newspack yesterday and was told no insurer in Aust will provide cover for anything in relation to Coronavirus whatsoever.
Thanks Shayne.