The accountability of management during lockdown has increased, meaning many directors and officers of companies have had to make quick decisions in regard to their business, customers, suppliers and staff.
The global economy could be looking at the largest ever recession, as an impact of the Covid-19 pandemic and the effects could prove damaging. It is absolutely vital during this time that businesses behave responsibly and ensure no avoidable harm comes to its employees and consumers.
Although this is unprecedented, responsibility for how a business responds over the coming weeks and months will ultimately fall on senior managers. During this period, it is key that you understand the protection that you may require during this critical time.
Policy wordings will come under scrutiny to see whether a notification of the circumstances is specified and whether certain types of exclusion could cause an impact. Therefore, if senior managers make the wrong decisions now, they might face future claims, such as:
We are also anticipating a significant number of Covid-19 related claims, which could include:
We work with specialists in the insurance and risk management sectors to ensure we have a variety of products to offer you, which will be in place to assist your business when it needs it most.
Carolyn Baker-Mellor is a respected industry leader with over 35 years' experience within the care insurance sector. She works across a wide spectrum of insurance product and policy development, delivery and optimisation for care industry clients, including managing global corporate accounts, working closely with trade associations, and helping clients in protecting their businesses and personal assets. Her areas of expertise within the sector include care homes, nurseries, domiciliary care, hospices and charities.
Carolyn currently works at Towergate as Head of Care Insurance. Towergate is the UK’s leading independent insurance broking platform and forms part of the Ardonagh Group, an international network of over 100 offices and 7,000 people which incorporates leading brands in both Lloyd’s of London and global markets.
She previously worked for 10 years at Aon as a director, client services leader and assistant director for claims.
Date: July 27, 2020
Category: Care and Medical