Riot Stricken Small Firms Must File Insurance Claims Urgently, Says Insurance Firm

A leading North West based insurance adviser says small to medium sized firms hit by riots engulfing the UK must file their insurance claims as a matter of the ‘utmost urgency’.

Mitchell Charlesworth Insurance Solutions director Richard Gorst made his plea as the Association of British Insurers estimated that riot related insurance claims could exceed £100m. This is in addition to the lost revenue that stores will have incurred as a result of unexpected store closures and early closures. Further research by the Local Data Company released today has revealed that most of the retailers and leisure operators affected by the civil unrest in the past week in Manchester and Liverpool are likely to be independent businesses. LDC said more than 60% of retail and leisure businesses in the two cities are independent.

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Mr Gorst said under the Riot Damages Act of 1886, both the insured and insurers are permitted to pursue claims against the Police Authority, who effectively failed to keep law and order. However, to do so they must file for damages within 14 days of the incident having occurred to the relevant Police Authority. In addition, the insured must also report the incident to their insurer within 7 days of the incident having occurred and it is essential that this procedure of “double reporting” is followed.

“This is a very worrying and frightening situation which the vast majority of businesses will never have faced before,” he said. “I recommend you report the incident to both the Police Authority and your Insurer immediately, retain any CCTV evidence, photographs or witness evidence and be prepared to give a statement to the insurer’s representatives. Please also ensure you do not place yourself or your staff in any danger whilst trying to protect you property and keep a copy of your insurance, stock and accounting records offsite.”

Businesses wanting further information can contact Email: richard.gorst@mcinsurancesolutions.co.uk or call any member of the Mitchell Charlesworth insurance team in Liverpool: 0151 255 2300 Manchester: 0161 817 6100 Chester: 01244 323051 Warrington: 01925 635141 Widnes: 0151 423 7500

We are part of the Mitchell Charlesworth Group, comprising of Mitchell Charlesworth Chartered Accountants & Business Advisors www.mitchellcharlesworth.co.uk and Mitchell Charlesworth Corporate Finance www.mccorporatefinance.co.uk

We are also part of the Willis Commercial Network and as such can offer clients both global leverage and sophistication, yet with a local service. Willis manages some £1billion of premium in the UK, which we can utilise as leverage in the market place.

We look to provide cost-effective services and contribute to the success and profitability of our Clients. We pay very close attention to detail and pride ourselves on our professional, yet friendly, approach.