By Ben Simmons
As the weather forecast shows the cold snap gripping Europe is by no means over, businesses are once more faced with the prospect of disruption and even damage to property.
For businesses across the UK already facing cashflow problems due to muted consumer demand and macroeconomic uncertainty, even a temporary disruption in their supply chains can cause serious, and potentially devastating consequences.
Fortunately, the Association British Insurers note, a robust insurance policy will cover the majority of claims arising from bad weather.
Commenting at the end of the disruption from last winter’s adverse weather, which cost the economy upwards of £1bn a day. Nick Starling, the ABI’s Director of General Insurance and Health explains:
“Insurers will always respond quickly to the large number of claims that often result from bad weather. From dealing with snow damaged roofs, burst pipes, to repairing or replacing vehicles damaged by treacherous driving conditions, insurers helped their customers get through the snow and the freezing temperatures. Insurers have paid out nearly £1 billion to customers following bad weather this winter, as the heavy snow came weeks after the flooding in Cumbria, which led to insurers paying out £200 million in flood claims.”
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