ABI Reacts to London Riots; Details of Insurance Coverage

Nick Starling, Director of General Insurance and Health, of the Association of British Insurers, issued the following statement following the third night of rioting, looting and the massive destruction of property in London.

“We have every sympathy for residents and business owners who have suffered damage to their properties,” he stated. “This is a time of enormous stress for them and their insurers will be on hand to answer any questions that they may have.

“Home insurance should cover people for fire, looting or damage caused. Many policies will also cover people for accommodation costs if they can’t stay in their home.

“Most commercial insurance policies will cover businesses for damage to their premises, including the interruption to their business as a result. Some policies will also cover those businesses which are not damaged, but whose trade is affected by the aftermath.

“It is important for people to contact their insurer to check what they are covered for and arrange for immediate help. It is too early for us to have an accurate picture of total costs, especially business interruption costs, but insurers are working hard to deal with claims coming in which will give a sense of the level and cost of damage.”

Source: Association of British Insurers