COVID-19
As we navigate our way through a situation that is constantly evolving with COVID-19, we wanted to ensure you that we are committed to continuing to deliver the best possible service to you. See below some commonly asked questions in relation to COVID-19.
Frequently Asked Questions
BizCover understands the importance of this issue to our customers given the challenging times all of us are facing. We have been in close conduct with our insurance partners so we can provide guidance to those that need it most.
With that in mind, each claim will depend on its own circumstances and ultimately it will be up to the insurer to decide whether a claim is covered under the policy or not. Our understanding is that COVID 19 has already been declared as a formally listed pandemic which means that it will be excluded. Additionally, the policy requires that disease related business interruption must be caused by a closure or evacuation of your business due to an order by a government order as a result of an outbreak of a human infectious or contagious disease. As at 2024 the government is yet to make a closure/evacuation order. You should carefully check the policy wording if you need further information.
BizCover knows this may be frustrating to our customers but the exclusion of Business Interruption coverage in the case of pandemics is unfortunately industry standard.
If you have purchased sickness/illness cover as part of your personal accident insurance you may be able to claim if you are diagnosed with COVID-19 and that diagnosis results in you being unable to work. Your cover will need to have been in place before you contracted the disease. However, you should be aware that as with all insurance, each claim will depend on its own circumstances and ultimately it is up to the insurer to decide whether a claim is covered under the policy or not. You should carefully check the policy wording for further information.
Each claim will depend on its own circumstances and ultimately it will be up to the insurer to decide whether a claim is covered under the policy or not. Having said that, in our experience, it would not be usual for a standard policy wording to respond to such a loss. If you do experience deterioration of stock due to COVID-19, please let us know and we will lodge a claim on your behalf meaning your insurer will look at how the facts marry up with the policy wording.
* The information contained in this article is general only and should not be relied upon as advice.