Coronavirus help and support for our Towergate Insurance Brokers customers

Risk Alert - HOW TO REDUCE YOUR EXPOSURE TO ESCAPE OF WATER

Risk Alert - How to reduce Your Exposure to Escape of Water

It’s that time of year again, with snow and ice on the way. And with cold weather comes the risk of burst pipes and escape of water. During winter, frozen pipes account for as many as 3,500 claims every day, costing the insurance industry £1.8 million daily [1]. And, according to the Association of British Insurers (ABI), the cost of these claims is going up year-on-year. Last year, the Beast from the East caused a massive 290% rise in claims from the year before, due mainly to escape of water [2]. All-in-all, insurers paid out a staggering £1.25 billion in Q1 2018.

 

Source:
[1] www.abi.org.uk/news/news-articles/2018/12/is-water-damage-covered-by-insurance/
[2] www.abi.org.uk/news/news-articles/2018/05/beast-from-the-east-leads-to-the-worst-of-the-bursts/


Coronavirus (Covid-19) – Update for Towergate customers

· Update as at 16 March 2020

With the COVID-19 Coronavirus situation evolving daily, we want to reassure our customers and partners
that we are continuing to follow government guidance, and have been working for some time to prepare for all potential outcomes
for our business and to support clients and customers through this sustained period of uncertainty.
Towergate Insurance Brokers is currently operating business as usual, and we are working behind the scenes on a range of plans
to continue serving clients without interruption and ensure we are prepared, should guidance and advice change quickly.
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