In relation to Group Life, Income Protection and Critical Illness, some examples of the key questions we’re being asked are:
- Will a claim due to coronavirus be paid?
- What will the approach to claims be if an employee is furloughed, being paid a reduced salary or working reduced hours?
- If any employee is working from home, will they meet any ‘Actively at Work’ (AAW) requirements?
- Is coronavirus considered a catastrophic event?
- Have the disclosure requirements and cover been amended in relation to business travel?
Insurers will look to Government guidance when reviewing how the crisis affects their products, but it’s important to note that insurers will interpret some of the potential issues differently in line with their own terms and conditions.