AG Insurance has announced some extra help for its policyholders during the Corona crisis, here are some key points from their press release.
In order to compensate for the compulsory closure of their business, many restaurants, snack bars etc. have reoriented their activity by delivering meals prepared by them at home. Under normal circumstances, they should declare these new activities to their insurer, with the consequence of a possible adaptation of the conditions of the insurance contract.
However, in order not to impose an additional burden on these companies, AG has decided that its catering customers with Work Accident and / or RC Companies insurance will not have to declare these temporary additional activities and will be insured free of charge for the duration of the coronavirus crisis.
In the same spirit, AG will also temporarily cover the private vehicles of the operators of a catering business or their staff for professional use (home delivery). This coverage is applied automatically and without adaptation of the contractual conditions.
In addition, all restaurants that have subscribed to Pack Modulis Restaurant coverage at AG in addition to their Top Commerce contract receive a flat-rate intervention of EUR 2,000, in application of the “Impossibility of operating the restaurant” coverage. Concretely, this represents a total additional intervention of more than EUR 1 million for the hotel and catering sector.
Workers forced to telework continuously
As a result of government measures, employers are forced to make their employees work from home as much as possible. Like other insurers, AG considers this temporary, but long-term, telework as occasional telework. Companies are therefore not obliged to mention this specific activity to AG and employees are automatically and without additional conditions insured if an accident occurs at home that meets the conditions to be considered an industrial accident.
In addition, the equipment that the employee uses at home for teleworking is automatically insured with AG in the employee’s home insurance.
Physicians Helping With Coronavirus
Many doctors come forward spontaneously or are requisitioned to support health centers in the management of patients with coronavirus. These doctors should not worry about their possible responsibility as a doctor in this additional activity. Doctors who have taken out RC medical insurance are also automatically insured for this activity in the context of the coronavirus crisis.
Insurance Edge Comment;
Great to a see a flat rate, 2000 euro emergency payout to struggling restaurants who have taken out the Pack Modulis cover, which is something broadly akin to Fully Comp for restaurants. In fact the AG Pack Modulis key points web page describes Business Interruption in particular, although it does not list contagious disease as a reason for closure.
If the UK insurance industry had taken such action last week much of the fury from the hospitality sector over Business Interruption cover could have been diverted. Making a gesture, even if it does cost you a cool million, could go a long way to winning twenty million in premiums when this virus is finally defeated.