A quick reminder following a loss.

Following a major insured event, it is often necessary for an insured to relocate, all or part of their business, or in the case of a domestic claim, to alternate premises.

With all the stress of the event, finding a new premises suitable to their needs, and managing the move, the ongoing recovery and resinstatement process it is often overlooked to arrange insurance both property/business interruption and liability coverage at the new or temporary premises.

All of us in the industry, whether that be insurance brokers, claims officers, claims preparers and or adjusters need to remind insureds of this need so that they do not get caught out due to their innocent oversight.

Similarly, if undamaged property is being moved from the damaged building to alternative premises inland transit insurance may be required.

Any additional costs associated with this insurance may well fall within the coverage provided Increase in Cost of Working /Additional Increase in Cost of Working in the case of commercial risks.