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Our article on the 20.01.21, provided details of the current situation and process for the handling Business Interruption claims via our various insurance providers.  As expected, we have heard further from them and wish to inform you of the following:

Bridge Business Protection Policyholders

Covea Insurance PLC (Covea) have concluded their review of the Supreme Court’s ruling.  No blanket acceptance of Business Interruption claims, due to Covid-19, has been declared.  Each case will be handled on its merits, as stated previously.  Claims will be dealt with by Covea, at all stages from notification, submission through to conclusion.  Balens Ltd (Balens) will not comment on policy interpretation.  Covea will make all decisions on whether the policy will respond, based on the individual circumstances of the submission and the terms and conditions of the insurance policy.  As you can imagine, they will be extremely busy and may not be able to respond to you immediately.  They do aim to contact you in approximately 5 working days but this may not be possible in all circumstances. Please click here to view the formal letter from Covea confirming the above

Our previous article provided guidance on various scenarios and processes to be followed. If after reading the formal stance from Covea, you feel you have suffered a financial loss, please review the scenarios and contact us appropriately.  The stance has not changed in terms of initial notification (if not already notified).  Submissions need to be notified to Balens in the first instance, ideally.  We will then forward details to Covea with a copy of your insurance policy schedule. From here on in, Covea will deal with you directly and Balens involvement will be limited. We will however, continue to support our Policyholders and Covea to ensure a quick resolution of all enquiries and submissions.  We are in regular contact with Insurers and continue to be the driving force behind negotiations, regarding processes and information gathering.  Assisting our Policyholders is, and will remain our key focus.

 

Scenarios :

Scenario one -  You have an ongoing claim with Covéa (already reported and recorded)

Covéa will continue to correspond with you directly – you do not need to do anything further at this stage.

Scenario two – you have previously submitted an enquiry regarding policy cover or submitted a claim and you have been told that the policy will not respond

Please email Combus@balens.co.uk.  We will review your enquiry and respond appropriately,  If your request is to submit a claim,  please provide full details of your contact details, the Policyholder’s name & address and your Policy Number (if known).  Details of the claim to be submitted should also be provided.   Our dedicated “Covid-19” team will then handle, as stated above.

Please note, that the submission of an enquiry or claim, does not guarantee any claims settlement.

Scenario three - you wish to submit a potential new claim

Please email Combus@balens.co.uk.  Please provide full details of your contact details, the Policyholder’s name & address and your Policy Number (if known).  Details of the claim to be submitted should also be provided.   Our dedicated” Covid-19” team will then handle, as stated above.

Please note, that the submission of an enquiry or claim, does not guarantee any claims settlement.

 

Bridge Babtac Policyholders

An updated letter is attached which simply, re-affirms Covea’s final position and options available to you, should you wish to challenge the official interpretation. Please click here for full details

 

China Health Products Package Policy

China Taiping Insurance (UK) Co Ltd (China) have re-affirmed their stance that, the policy will not respond, for the reasons previously explained. We have been forwarded a formal notice from the Insurer and this is attached. Please click the link here for full details

You do have the option to submit a claim should you wish. Please email claims@balens.co.uk

If you wish to challenge China’s official interpretation, please review the letter which clarifies the relevant contact information.

If you have an on-going claim with China, our dedicated claims team will ensure you are responded to appropriately.  Please email claims@balens.co.uk

 

Any other Insurer

No change in information.