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The impact of windstorms can be swift and catastrophic. While a
range of insurance products can provide cover against loss or
damage caused by windstorm, the first step should always be to take
steps to manage the risk of windstorms and minimise resulting loss
or damage.
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(1) Avoid or minimise the risk of
damage from windstorm
The best advice is to use your
common-sense. Here are some specific reminders:
General
advice:
- Check roofs and wall panelling,
guttering and drains.
- Check that outside areas are free of
potentially dangerous objects.
- Check inside. Close curtains
or blinds – they may protect against flying glass.
- Check if sufficient protection is in
place.
Business advice:
- Think of your people. Ensure all staff
understand procedures to be followed, including removal of
essential backup data media. Staff may be concerned about home
safety. Give people sufficient time to get home before conditions
worsen to the point where it is dangerous to drive.
- Prepare a Windstorm Plan.
Include a list of essential contacts. Identify all key properties,
as well as utility shut-off points. Prepare to protect against
disruption, and to get the business going again. Staff must know
where the plan is kept.
Further advice on Business
Continuity Planning
- Check insurance policies.
Consider a business interruption policy to insure you against loss
of profit and higher overheads caused by loss of equipment or
facilities.
(2) Deal with damage caused by
windstorm
Once the storm has passed:
- Make sure people are safe and
secure. Move away from any unsafe areas.
- Check the safety of all
utilities, especially electricity and communications.
- Check the security of the
premises – against further adverse weather and crime.
- Check essential systems are safe,
particularly IT and computer systems.
- If the premises are damaged, inform
your broker. Follow their instructions relating to
handling of emergency repair work, disposal of damaged goods,
handling of business loss/interruption, scheduling of additional
building and other restorative works etc.
- If renting premises, contact
your landlord and/or their agent as soon as possible.
- Follow utilities/emergency
services advice.
- Get photographic or video evidence of
the scale of damage.
- If your business is affected, put in
place contingency arrangements for business
continuation.
(3) Ensure adequate insurance
It is critical to your business that it
is protected by the appropriate type and level of policy
- Buildings insurance. It is
important that premises are insured for the full rebuilding cost,
otherwise you will only be able to claim up to the maximum sum
insured in the event of a total loss and for a partial loss your
claim payment could be proportionately reduced.
- Contents can be insured for
'replacement', or 'indemnity'. Indemnity cover deducts the
cost of wear and tear when settling a claim. Replacement as new is
more expensive, but may be a better option.
- Choose the right 'business
interruption' policy. This will cover against loss of
profit and higher overheads caused by windstorm. Choosing the right
level and mix is essential – and is achieved through assessment
with your broker.
When hit by severe storms, a lack of
preparation can result in massive cost and disruption. If you would
like more information on ways in which Towergate can help ensure
your own business is protected against windstorm or other natural
disasters, contact your local Towergate Risk Solutions office
(4) Are you at risk?
For further information, make an online
inquiry or contact your local office |
