UK companies not covered against Coronavirus

In a note addressed to all insurance company executives, the Financial Conduct Authority (FCA) affirmed that very few small and medium-sized enterprises (SMEs) have a post-pandemic business interruption coverage.

As a result, only the companies that have underwritten a pandemics insurance policy are eligible for compensation.

However, the companies are called upon to quickly compensate SMEs which benefit from an adequate insurance. The basic business interruption coverage provided by insurers can reach 100 000 GBP (124 568 USD).

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