Business: Insurance

(asked on 13th July 2020) - View Source

Question to the HM Treasury:

To ask Her Majesty's Government, further to the Written Answer by Lord Agnew of Oulton on 4 June (HL4757), what plans they have to ensure that there is sufficient provision of business interruption cover for businesses in event of any future pandemic, given that such cover can no longer be purchased in the commercial market.


Answered by
Lord Agnew of Oulton Portrait
Lord Agnew of Oulton
This question was answered on 22nd July 2020

Ideally all firms would be able to purchase the insurance products they need on a market basis, but the Government recognises that in some exceptional circumstances that may not be possible.

The Government welcomes ideas for how insurance can build resilience and access insurance in future, noting the new risks and challenges from the outbreak of COVID-19. We will be assessing all proposals in due course.

Reticulating Splines