Protests – Is your Business Covered?
It’s a difficult topic in this multifaceted society where we all have our own approach to diet, exercise and lifestyle. Whilst we don’t wish to upset anyone, this topic is something we feel we should discuss as some people and businesses are affected.
Over the last few weeks, Farms, abattoirs and other food-chain producers targeted by animal rights activists.
Protesters have chained themselves to equipment, invaded farms and abattoirs, stolen livestock and blocked a major Melbourne intersection as part of a wave of activity that culminated in simultaneous demonstrations last week (www.insurancenews.com.au covered in a recent article – link at the tail of our blog).
Some have discovered that they are not covered for potential impacts on their businesses. So, is your business covered?
The potential implications of these issues could be:
- Public Liability – Protesters, Staff or Subcontractors being injured
- Business Interruption – trade being restricted or halted due to the protesting
- Property Damage – equipment or stock sustaining damage
- Malicious Damage – Protesters forcibly stopping equipment or damaging property
- Theft or forced removal of goods – The theft of stock or vehicle/equipment keys etc
- Interruption of stock delivery (goods in transit) – Drivers being physically stopped at the gates and cannot deliver stock
- Goods in cold storage – Refrigeration equipment being destroyed and loss of cold goods
- Plus more…
So, Protests – Is your Business Covered?
Having reviewed some of the Farm Policies and Business Policy available to the market, some are not sufficient to protect against such scenarios.
A more tailored solution must be negotiated between the Insurance Broker and the Insurer.
Aside from taking a more Increased physical security approach (Security Firms, CCTV, Gated boundary fencing, signage etc), Insurance is another approach to be considered.
Has your business experienced the type of scenario alluded to above? Its best to broach this topic before this happens to your business, and mitigate the potential issues before they occur.
This article originally appeared on Dawson Insurance News Blog and has been published here with permission.