As the Association of British Insurers estimates losses of well over £100 million, leading commercial insurer, Allianz, is warning businesses across the UK to remain vigilant to the threat of further disturbances and is advising on the preventative measures that they can take to reduce their risk of being targeted.
Neil Clutterbuck, director, underwriting & technical, Allianz Commercial, said:
"The disturbances of the past few days have caught many businesses by surprise and we are trying to do everything we can to help those who have been affected. We urge businesses to inform their insurers of any claims as soon as possible as most policies require claims to be notified within seven days of the event in order for that claim to be covered. This swift action will enable us to assist you as efficiently as possible."
He adds: "At this stage it is unclear when the disorder will subside so we encourage businesses to follow our guidance on the preventative measures they should take. If business owners are unsure of the cover they have in place they should contact their insurance broker or provider directly as they will be able to advice on policy options."
Allianz Commercial suggests the following guidance businesses can take to minimise their risks:
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The safety of your employees and customers must be your priority. Make sure that you have suitable emergency plans and that these cover periods when riots and civil disorder are possible so that you can avoid employees and customers being on the premises or travelling to or from them during periods of danger.
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Have a robust emergency contact procedure including home and mobile phone numbers for staff. Make sure that you have this information available at all times, remembering your Data Protection obligations.
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Stay up-to-date with latest developments. Consider using the internet, text news alerts and police information, responding to advice from the authorities as appropriate.
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If you do decide to temporarily close for business, try to give affected employees as much notice as possible so that they do not make unnecessary journeys putting themselves at risk. If you are sending staff home during a period of disorder, discuss with them what arrangements can be made to try to get them home safely.
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If your buildings are already fitted with security grilles or shutters, make sure that security measures are in working order and put into place when closing and leaving the premises. If you do not have shutters to protect vulnerable glazing then consider temporary boarding. Don't forget that this will need to be very firmly secured.
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Remove valuable items from inside shop-front displays or which are close to ground floor windows. Put small high value items in your safe, if you have one. Consider what larger items may be safely removed during periods of unrest.
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Make sure that you have two up-to-date copies of your computer data stored securely away from the premises.
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Review your Business Continuity Plan (Disaster Recover Plan). If you don't have one of these, visit our Risk Director website for advice on this topic.
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Avoid leaving combustible or flammable items outside your premises.
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