Advice to small businesses and FSB members about the novel coronavirus COVID-19
It’s all over the news but as a small business owner what do you need to know about novel coronavirus COVID-19
For official advice on the subject head over to the GOV.UK website here.
Be informed and follow the official guidance
Be aware of and follow COVID-19: guidance for employers and businesses from the Government. This guidance will assist employers and businesses in providing advice to staff on:
the novel coronavirus, COVID-19
how to help prevent spread of all respiratory infections including COVID-19
what to do if someone with suspected or confirmed to have COVID-19 has been in a workplace setting
what advice to give to individuals who have travelled to specific areas, as outlined by the Chief Medical Officer
advice for the certification of absence from work resulting from Covid-19
Have an up to date business continuity plan (BCP)
Have a relevant business continuity plan (BCP) in place, FSB Insurance Service can help members with free templates and guidance. Make it specific to a potential virus-related situation – some of the issues you may need to think about are supply chains, employees, cashflow, travel.
Business insurance – what happens if your business closes due to an outbreak of COVID-19?
Think about how your business insurance will work if your business closes due to an outbreak of the virus. Advice from FSB Insurance Service is:
Check your policy wording: Standard policies may not include any protection if your business suffers due to an outbreak of disease, regardless of circumstance.
Firstly, you need to check your policy, or confer with your broker to see if you have Business Interruption cover in your commercial insurance policy. Business Interruption insurance covers the income that you lose after a disaster, and often comes up when discussing terrorism cover (for example, after the London Bridge attack, local businesses that were forced to close for a period of time would have been able to claim for revenue lost under this clause).
Once you have confirmed that you have Business Interruption cover, you will need to check whether you have an extension for “notifiable diseases”. If you have this in your policy wording, you will need to reach out to your broker/insurer to confirm whether coronavirus is covered. As at 27 February, the UK Government has not declared COVID-19 as a notifiable disease. Holyrood has declared coronavirus as a notifiable disease in Scotland.
If it isn’t, you may be able to ask for it to be added by your insurer, but they are within their rights to refuse, or to ask for an increased premium.
Health and medical service for FSB members
FSB members have access to FSB Care, a health and medical advice service for any specific questions or concerns relating to any health or medical concerns including the coronavirus.
Health and Safety advice and legal advice for FSB members
FSB members have access to 24/7 legal advice and health and safety advice.
Help with cashflow for FSB members
FSB members are able to access the FSB cash advance service or apply for funding. Consider also having in place invoice insurance through FSB Insurance Service, if not already in place, which could help with cashflow or non-payment.
Guidance for employers
Current government advice is that the overall risk to the public in the UK remains moderate.
The overall risk to employees in contracting Covid-19 through attending their place of work in the UK is very low. However, our experts from the FSB Legal Protection Scheme have put together the following guidance to help you manage your staff and your responsibilities to them at this time.
Source : For more info head over to this FSB.org link
