Important Insurance Action Items & FAQ | Covid-19

We will be updating this information as and when it changes. For the most up to date advice please contact us directly or refer to your insurance policy PDS.


Possible Reduced Premiums Due To Revised Turnover Projections

If you have a Liability policy, it will be worth discussing to see if insurers are prepared to accept an initial adjustment based on revised turnover projections for the next 12 months.


Income Protection, Sickness & Accident & Workers Compensation

Most policies have a 14-30+ waiting period often paid in arrears. Worth a possible claim if you are sick for an extended period of time.


Travel Insurance – General

Travel insurance policies commonly exclude pandemics and epidemics which includes viruses such as SARS, Avian and Swine Flu.


Travel Insurance – Cancellations

Whether an insured is covered depends on which policy they have taken out and what date they purchased it.

Travel insurance policies may cover insured’s who cancel the remainder of their trip if they were already in the country before DFAT raised its travel advice to a Level 4 however after that date, cover will not be extended due to the exclusion which is in most if not all, travel policies.


Travel Insurance – Medical Expenses

Some travel policies will cover insured’s in the affected region for medical expenses related to COVID-19 if they commenced the travel before DFAT advisory was lifted to Level 4.


Public Liability

Public liability insurance would respond to applicable claims relating to COVID-19, as long as there is no exclusion or if the exclusion only applies to specific policies. However, if somebody held an event in defiance of a government order, there is likely to be no cover.


Business Interruption and COVID-19

Business Interruption policies generally respond to physical damage to an insured’s property. If there is no physical damage to the insured’s property caused by COVID-19, then no cover would be applied.

This means the only cover an insured can make a claim on is if there is an extension for “Infectious or contagious diseases”. However, this cover only operates when the infectious disease results in closure or evacuation of an insured premises.

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