Miles Smith, now Specialist Risk Insurance Solutions, were asked to address a concern from an existing Private Ambulance client worried about the temporary cost of hiring replacement vehicles following an insured event at their Ambulance depot.

Our client had comprehensive Motor insurance as well as adequate protection for their Ambulance Depot, but no cover was in force for the hiring costs associated with the replacement of temporary vehicles following, for example, a fire. These were the costs necessary to hire replacement Ambulances to maintain and fulfil existing customer obligations during the period of business interruption.

For a relatively modest premium charge we arranged a Business Interruption Increased Cost of Working extension following damage to vehicles. This provided the funding to enable patients to keep moving whilst the Fleet and Property insurers arranged settlement on their respective policies and at the same time helped protect and maintain existing revenue for the period of interruption.

More often than not this important cover extension is overlooked but is readily available upon request to all Specialist Risk clients.

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