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Business Interruption

23rd April 2020 Insurance 0
Help with business interruption claims due to coronavirus

Business Interruption Claims Help & Civid-19

Business interruption or BI claims cover your business for short term financial loss. This results from an interruption to a business’ operations. This may be a result of damage to the premise or equipment.

The cover is also extending to include prevention of access to the premise. In recent months this includes the government enforced lockdown due to COVID-19. The government has asked all non-essential businesses must close.

According to www.publiclossadjusters.com not all business interruption insurance policies are are covered for COVID-19 (Coronavirus).

BI Claims Calculations

The intention of business interruption claims is to put you in the same financial position that you were in beforehand. BI insurance covers four aspects:

  • Loss of gross profit
  • Additional expenses incurred during this period
  • Savings in expenses
  • Claim preparations costs (for example accountant’s costs)

How your insurer will calculate your BI claim will depend on the wording of your policy. Also, the records and account you have which are based on your company.

There are somethings that can stop you making a BI claim. For example:

  • Incomplete records
  • Seasonal trends
  • Looking at the level of sales during this period

What Is The Indemnity Period?

An indemnity period is the period of insurance protection. This commences from the date that the event occurred and normally ends when your business is fully functionally again. Alternatively, when the indemnity period expires. For instance, your indemnity period is defined in your BI policy.

Does Business Interruption Insurance Cover COVID-19?

Business Interruption Claim Help Covid-19Normally BI insurance is designed to cover standard risks. Unfortunately, this means that you’re unlikely to have cover for a global pandemic such as COVID-19. Therefore, your insurance company has no requirements to pay out claims.

This includes closures from the authorities. Many policies have a add on option that enables your policy to cover infection or notifiable diseases. This is not the normal added standard.

Who Can Help?

With many companies offering help currently with business interruption claims it is hard to know who to trust. With a team of experienced chartered accountants, in-house legal team and Loss adjusters specialising in BI claims, Public Loss Adjusters are experts in handling BI claims. For a small fee Public Loss Adjusters can help deal with the stress of making an insurance claim can create.

For more information on how Public Loss Adjusters can help you today please visit https://www.publiclossadjusters.com/business-interruption-claims-help/ or call 08000 487 606…

Public Loss Adjusters

30th November 2017 Property 0
Public Loss Adjusters

Public Loss Adjusters & Insurance Claims Management

Loss Adjusters UKAre you looking for a professional team of loss adjusters to help you file and complete your insurance claim? At Public Loss Adjusters, they have a specially trained and dedicated team who are always ready for a new challenge. All their loss adjusters are fully trained in their area of expertise whether its fire damage, water damage or storm damage. They all have heaps of experience in the field and they are always extremely enthusiastic in starting a new insurance claims. They strive to help you and ensure that you receive the appropriate entitlement to fully restore your property when it has been affected by the like of fire or floods.

Public Loss Adjusters have two main directors who when combined have 65 years of experience in this industry and there aren’t many jobs they have come across and haven’t settled the claim. With PLA having this much experience it helps your claim dramatically, they know exactly what steps to take to ensure that the claim is completed in the quickest amount of time. This is because they strive on excellent customer service and they want you to be able to return back to everyday life as soon as possible. Why not visit their website today and see for yourself what services they can offer you https://www.publiclossadjusters.com/.

Prices And Services For Insurance Claims Management

At Public Loss Adjusters, they offer all their services for a modest fee of 10% + VAT of the final settlement fee which is agreed upon, which is a great price for all the man power and products they provide for you. However, they also have an offer where you can utilise their services totally free of charge to you. When getting, your property restored you will need to hire contractors or builders to restore any damage that has occurred. If you choose one of PLA’s preferred contractors to see out any damage that has occurred, then they will cover all the costs for Public Loss Adjusters will charge for their services.

Public Loss Adjusters are fully vetted, authorised, and regulated by the Financial Conduct Authority (FCA) and they are also a CILA chartered firm. By having organisations behind them it ensures that all the work they complete and oversee is totally legal and will be done to the highest of standards.

If you have been subject to damage from a fire, flood or storm damage Public Loss Adjusters should be everyone’s first choice. They are reliable, trustworthy and vetted and with all the experience that the firm brings to the insurance claim you can be totally reassured that they will deal with your claim to the highest of standards and always have you in mind.…

Latent Defects and Patent Defects

28th November 2017 Property 0
Latent defects and patent defects

Latent Defects Warranty & Insurance Claims

The type of patent and latent defects can be varied dependent on the type of the engineering or construction project. Many minor defects can be identified and corrected before the building is handed over to its owner. Other latent defects may be significantly harder to detect or the problem may only appear after a long period of time. It may then require extensive work to remedy the problem.

Latent defects may be caused due to poor workmanship, inferior materials used or by not following the original designs. If problems do occur then in normal circumstances the building contractor would usually be held responsible within a period of 2 years. Other times latent defects could have been due to design flaws but either way it is the contractor who would primarily be responsible for liability who could in turn claim against the designers and the supply chain.

In identifying latent defects, this should usually be quite easy. It may be that something has not been provided correctly in the manner that it should have been. For example; there may be subsidence caused by the foundations resulting in large cracks. Despite the building work being carried out to design specification, brickwork could be defective simply because the wrong type of brick may have been used in the building process.

Latent defects are only identified after the completed construction of a buildingArguments can occur when problems become apparent between the architect and the contractor. This may arise because work the contractor may have carried out work incorrectly and there may be a fault with the architect’s design. Liability may be passed on from the contractor to the architect even if the work that carried out was defective but was not the initial latent defect that has been identified.

There are differences between patent and latent defects and it is important to state the difference. Patent defects are identified during the time of construction and before its completion. Latent defects are simply building defects that were not or could not have been identified until after the construction had been completed and occupied for a period of time.

If you believe your property is suffering from damage due to latent defects there are property claim companies can help you. Property Defects is a nationwide group of surveyors and loss adjusters who work on your side to ensure that you are fully represented with either your insurance claim or warranty claim. If you would like more information regarding the services that New Property Defects can offer please visit their website: https://www.propertydefects.co.uk