Middle Market Business Insurance Update: COVID-19 considerations
Published 12 May 2020
Middle market businesses (<$250m turnover, 20+ employees) have specific insurance needs and risk exposures which require careful consideration, particularly in light of the current COVID-19 pandemic environment.
Your insurance program needs to remain responsive to the prevailing market conditions while also taking into consideration the future needs of your business.
The Middle Market Business Insurance Update: COVID-19 considerations, seeks to provide information on the scope and limitations of insurance policies for middle market businesses and perspectives specific including:
Public Liability insurance
Property damage and industrial special risks
Workplace Health and Safety
Cyber risk and data security
Directors' and Officers’ insurance (D&O)
Employment Practices Liability (EPL)
We strongly encourage any company director, executive or board with prevailing concerns around the adequacy of their insurance cover to speak with Gallagher subject matter experts at the earliest opportunity. We are here to help and, through our strategic partnerships and access to exclusive markets, we may be able to present an improved course of action for your business.
Gallagher provides insurance, risk management and benefits consulting services for clients in response to both known and unknown risk exposures. When providing analysis and recommendations regarding potential insurance coverage, potential claims and/or operational strategy in response to national emergencies (including health crises), we do so from an insurance and/or risk management perspective, and offer broad information about risk mitigation, loss control strategy and potential claim exposures. We have prepared this commentary and other news alerts for general information purposes only and the material is not intended to be, nor should it be interpreted as, legal or client-specific risk management advice. General insurance descriptions contained herein do not include complete insurance policy definitions, terms and/or conditions, and should not be relied on for coverage interpretation. The information may not include current governmental or insurance developments, is provided without knowledge of the individual recipient’s industry or specific business or coverage circumstances, and in no way reflects or promises to provide insurance coverage outcomes that only insurance carriers’ control.
Insurance brokerage and related services to be provided by Arthur J. Gallagher & Co (Aus) Limited (ABN 34 005 543 920). Australian Financial Services License (AFSL) No. 238312