How can my organisation navigate the Claims Liability landscape?
The current COVID-19 pandemic continues to dominate headlines and create new areas of risk in the Liability Claim market. Below, our Development Director, Troy Johnson offers guidance on how your organisation can navigate the COVID-19 Liability Claims landscape and how to manage and mitigate the risks associated with your workforce continuing to work from home.
The COVID-19 Claims Liability Landscape
The world we all live in is now a very different place to how it was at the beginning of 2020. The insurance sector has been in the spotlight as companies review what cover may be available. We have also seen the Financial Conduct Authority (FCA) take eight insurers to court to challenge their policy wordings in relation to business interruption insurance.
COVID-19 is a major challenge and individuals and organisations are responding to this. Reviewing Companies House has shown there have been over 150 companies registered with either COVID or Coronavirus in their name this year!
Within these registrations are a number of Claims Management Companies (CMCs). These companies will target individuals affected by COVID-19, either directly or indirectly and we anticipate a surge in liability claims as a result.
COVID-19 Liability claims are likely to be treated as a disease and as such they will fall within the Ministry of Justice claims portal. This means they will be subject to fixed costs. However, unlike accident liability claims, disease claims attract hourly rates, making them highly attractive for law firms, especially CMCs.
There have been many adjustments made to respond to COVID-19 and the transfer of labour to the home environment is one of the most significant.
On balance, many people will have found the shift to working from home a positive experience, however the same cannot be said for all.
Appropriate risk assessments and safe systems of work should have been undertaken to support the changes made.
Through RMworks, the Griffiths & Armour online risk management platform, we provide support to our clients with the comprehensive Risk Directory. This is a resource library of technical risk management guidance and supporting documentation. There are over 50 modules including:
- Display screen equipment
- Home working
- Lone working
Each guidance document provides practical advice that can assist your organisation to better prepare for the myriad of risks you may encounter.
By undertaking the appropriate risk assessments and retaining all documentation, organisations are better prepared to respond to claims brought against them.
We are always interested to hear your views so if you have any questions or comments on this article or our approach to claims management, please get in touch with your dedicated insurance broker at Griffiths & Armour or alternatively, contact Troy Johnson by clicking the contact button below.
If you are a client that would like access to our risk management platform, RMworks, please click here.