McClarrons recently resolved a significant and high-profile claim for a renowned and much-loved restaurant business. In 2021, our client experienced a catastrophic fire, which left the business facing a profound challenge, not only due to the extent of the damage but also due to it being a 14th century building with very specific restoration requirements.
From the moment the claim was made, our in-house Claims Team, alongside our Commercial Team, worked relentlessly to ensure the successful rebuild of the historic building and the swift resumption of business operations. The financial impact on our client was immense, and the restoration of the 14th-century building required delicate and thoughtful management. Our teams collaborated closely with specialist builders and conservation authorities to restore the business to its former glory while respecting its unique historical significance.
Our Claims Advisors worked closely with the client’s Client Executive, Stephen, who has a wealth of knowledge around large commercial risks, built throughout his insurance career which began in 1975, as well as chartered loss adjusters from Lorega, who expertly managed the Business Interruption aspect of the claim. Together with the insurer, we provided ongoing support to our client from the immediate aftermath of the fire, through their most challenging times, and right through to the final stages of the rebuild. Our commitment ensured that both financial and operational impacts to the business were addressed, allowing the business to continue its legacy as a celebrated establishment.
The client provided us with the following feedback:
“With the nightmare scenario of a devastating fire, which effectively closed our business for a year, we found ourselves on a steep learning curve of dealing with loss adjusters, project managers and contractors, literally overnight.
McClarrons not only provided a wealth of advice and support throughout this difficult process, but it rapidly became clear that their recommendations for cover for our business had been very wise and made the whole process as pain-free as it could be, allowing us to bounce back with confidence for the future.”
At McClarrons, we can arrange a range of large commercial business insurance policies, which are designed to offer comprehensive protection for your businesses, helping to navigate such unexpected challenges with confidence. We build insurance programmes to address the specific needs of each of our clients, including Business Interruption cover, to ensure that they are comprehensively protected from both direct and indirect losses.
Business Interruption Insurance plays a crucial role in protecting businesses from financial losses that occur when they are unable to operate due to unexpected events, such as fires or other insured perils. When a business experiences a disruption, the loss of income can be just as damaging as the physical damage itself, especially if it affects the company’s ability to meet payroll, pay fixed expenses, or maintain client relationships. This cover helps to ensure that a business can continue to meet such obligations by covering the income it would have generated under normal circumstances. Find out more about what Business Interruption Insurance is and how it works in our blog here.
For more details on how we can help you protect your business, visit our Large Commercial Insurance webpage here or contact our Commercial Insurance Team on 01653 609151 or at commercial@mcclarroninsurance.com.
