COVID-19 and Talos
Given the current economic and social environment due to the COVID-19 pandemic we would like to assure our clients that we remain open and are here to support their business.
COVID-19 & Business Insurance
With Coronavirus (COVID-19) officially declared a Pandemic in March 2020, and the landscape changing almost hourly, there is an air of great unease across Australia. Aside from the significant impact Coronavirus is predicted to have on our health system, there are also the risk of implications for the economy and potentially your business.
The number one question we are being asked by clients at the moment is: “will my insurance cover disruption or losses to my business as a result of COVID-19?”
Unfortunately there is no insurance protection for disruptions to business arising from Coronavirus.
We have sought to address your concerns on Coronavirus and Business Insurance cover, citing helpful information in a paper prepared by LMIGroup:
As valued clients we would advise you to consider the below Risk Management Measures:
- Risk Management Measures Maintain current insurances in place. Although you may not be trading for a short period of time, there is still a chance that you could have an insurance claim and you need to be adequately protected for current and future losses, including lost profits, liabilities etc., specifically important for “Claims Made” policies.
- Make sure all money and high value contents and stock are either properly secured onsite or removed from the premises to a secure location.
- If you have taken certain money, contents or stock home or to another location you need to confirm that your policy covers alternate locations and temporary removal conditions.
- Make sure your premises is adequately secured and if the premises is alarmed that it is activated. Alternatively, if you engage a security company or have CCTV or similar systems in place make sure that they are regularly monitored.
- Put a sign up at the entry to your premises or in the window that states “In this time of closure ALL Cash and High Value Stock (including Cigarettes and Tobacco) have been removed from the premises. This premises is under 24 hour monitored surveillance”.
- Where reasonable and safe to do so make sure your premises is inspected from time to time to avoid any Unoccupancy conditions being applied by the Insurer if you sustain a loss. Make a note of the date and time that your premises has been inspected. You may also wish to consider having waste bins cleared and make sure the surrounding areas are free and clear of debris.
- If you have staff working from home or an alternative location, make sure that all systems used have adequate protections in place and all accesses to your systems are monitored or have two factor authentication security activated. Now may be a better time than ever to consider a Cyber Protection policy.
Although staff may be working from home for a short period of time, as the employer you still have Work Health and Safety obligations to consider for your employees. Check in with your employees on a regular basis. Where possible a risk assessment should be conducted for each employees’ workspace.
- Review your Domestic Home & Contents covers to make sure that there are provisions to conduct a home office, including where necessary extensions that may be required for business style insurances.
- If your premises is unoccupied and you still have electronic or machinery items activated, make sure that you have regular access to such systems to maintain their integrity and operational status. Certain classes of machinery may need to be kept operational to maintain operational capacity as switching off such machines could have detrimental effects to your business operations.
- If your business holds frozen, refrigerated or temperature controlled stock make sure such stock is secured and held in an adequate or alternative operational storage location. If your business has closed down and/or machinery items have been turned off you are still responsible for protecting such goods.
- If you hold dangerous or hazardous goods onsite make sure steps have been taken to monitor, handle and/or store such goods in line with regulatory requirements.
- Make sure that known deliveries to your premises are redirected or suspended where required.
- Where possible maintain personal contact with your clients away from phone and email. Consider using online services such as Skype, Google Hangouts, Whatsapp, Viber etc.
- Finally, stay safe, take all adequate protections to not only protect yourself but your family and friends. Follow government guidelines by practicing social distancing and regularly washing your hands and hopefully this epidemic will be over sooner rather than later.
The WHO has extensive information and recommendations- https://www.who.int/emergencies/diseases/novel-coronavirus-2019
It is also important to stay up-to-date with Australian Government information: www.health.gov.au
Thank you for your support and we will get through this together.
Fishing 4 Therapy
St George SFC members teamed up with Fishing 4 Therapy, a programme run by the Australian National Sportfishing Association (ANSA NSW), designed to help the disabled participate in fishing programmes that are combined with a rehabilitation or therapy based concepts.
The day was supported by Talos Insurance and Risk Solutions, as well as the programmes hosting partner Centennial Parklands, who kindly allowed the day to be held in their beautiful parklands.