Preparing for and Handling a Property Loss During COVID-19

About the Advisory

April 9, 2020

An outbreak such as COVID-19 is very rare, and nearly every business will be impacted to some degree. At McGriff, we want to help our clients be prepared for managing the claims process. Since handling a loss is not your normal business function, it can cause many questions and problems. Remember that the initial response after a loss is crucial. During that time, management will have to make decisions that can dramatically affect operations. Some of these decisions can and will be made before the loss in an effort to reduce the impact.

An important question will arise during an event of this magnitude, which is whether your company should file a claim. It is always McGriff’s recommendation that any claim or potential claim be filed with the carrier as soon as possible for consideration. 

This guide covers basic steps for you to follow when a loss occurs, along with other loss handling procedures and concepts. This material also can be reviewed for guidance during your return to normal operations. The appendix contains various checklists and submission forms to help organize your activities. 

Read the Advisory (PDF)

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Government Announces Relief for Defined Benefit Plans

COVID-19: FAQs for Employee Benefits Groups

Commercial Property - Building Vacancy Advisory

Risk Management Issues in the Trucking Industry

Keeping Truck Drivers Healthy and Safe During the COVID-19 Pandemic

Assessing and Navigating Declines in Pension Assets in the Wake of COVID-19

Retirement Relief Provisions of the CARES Act

Coronavirus Advisory: Cybersecurity Measures

HR Strategy: Crisis Preparedness Plans

COVID-19: Families First Coronavirus Response Act (FFCRA)

Beware of Coronavirus (COVID-19) Scams

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Insurance products and services offered through McGriff Insurance Services, Inc., a subsidiary of Truist Insurance Holdings, Inc., are not a deposit, not FDIC insured, not guaranteed by a bank, not insured by any federal government agency and may go down in value.

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