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Business Combined Insurance - New India Assurance UK

Business Combined Insurance

Selecting the right policy to protect your business is no simple task…. but New India have tried to make this a simpler process by introducing a range of ‘package’ style policies, which have been designed to cover most types of business operations in the UK.

However, not all commercial businesses require or are suitable for a package policy and for these risks New India have developed the Business Combined Policy. This policy allows you to choose precisely the cover you require and to combine this within one insurance policy. The total flexibility that this policy provides allows you to add other covers as you need them, for example when your business grows.

Premium payments:

We understand the financial impact that Covid-19 is having on individuals and businesses across the country. A question you may be asking is:

‘As a result of Covid-19 what happens if I can’t afford to pay for my policy?’

Most of our Commercial and Retail Insurance policies are arranged via insurance brokers/MGAs, so in the first instance please contact your broker/MGA to discuss your needs and what assistance may be available.

If you have a direct debit under a Regulated Credit Agreement with New India Assurance and need our assistance please contact us on 01473 233626 between 9 am to 5pm Monday to Friday (excluding Bank Holidays).

FCA Test case:

Update to policyholders with potentially affected Covid-19 Business Interruption claims

Due to the widespread impact of the COVID-19 pandemic and the extent of repudiated insurance claims for business interruption, the Financial Conduct Authority (FCA) had decided to intercede in this matter. They sought to obtain legal Judgment on how a number of insurance products should respond to the COVID-19 outbreak and the subsequent Government Coronavirus Regulations. These are referred to as the “test case”.

The First Instance Judgment

The trial of the test case in the High Court commenced on 20th July 2020 and lasted 8 days. The Court examined 21 representative sample policy wordings issued by 8 different insurers. A decision by Lord Justice Flaux and Mr Justice Butcher of the High Court (also referred to as the ‘first instance judgment’) was delivered on Tuesday 15th September 2020.

That judgment is uploaded on our website here. It is complex, runs to over 150 pages and deals with many issues. The FCA website contains further information about the judgment, together with links to the judgment itself and a summary prepared by the solicitors that the FCA instructed in the case. This can be found at You may also wish to consider subscribing for email updates from the FCA, which can be done from the FCA’s Business Interruption webpage at There is information as to how the Financial Ombudsman is approaching business interruption insurance cases at

New India is still reviewing the test case judgment for any potential impact that it will have on claims made and any decision that may already have been made in it. We are also awaiting further information about whether any of the parties to the test case intend to appeal.

Potential to Appeal

Please note that the parties will now have time to consider the judgment and determine whether they would like to appeal it in part or in whole.

Any applications to appeal the decision will be heard at a further ‘consequentials’ hearing before the High Court scheduled for 2nd October 2020. The FCA and the Insurers have agreed that they will seek to have any appeal heard on an expedited basis, given the importance of the matter for so many policyholders and that consideration will be given to the possibility of a ‘leapfrog’ appeal to the Supreme Court (as opposed to any appeal going first to the Court of Appeal). If this happens, it is likely to speed up the process considerably.

According to the FCA’s Guidance, we are required to promptly assess all outstanding claims and reassess all rejected claims and complaints following the final resolution of the test case. The ‘final resolution’ of the test case occurs when the Court has determined the questions in the test case after all rights of appeal have been concluded.

Next Steps

As at the date of this update, it is unknown whether the parties will appeal the first instance judgment. Therefore, at this stage the first instance judgment cannot be considered as the ‘final resolution’ of the test case. If there is no appeal, we will reassess our decision and apply the first instance judgment to claims made in accordance with the FCA Guidance.

We have sent individual letters to all policy holders on 22nd Sep 2020 and will update again once we know the status of any appeal, in particular to inform policy holders whether we are required to make a final decision on Potentially Affected claims.

Dated: 22nd September 2020

Summary of covers available;

  • Material Damage including cover for Buildings, Tenants Improvements, Machinery, Plant and Contents, Computer Equipment and Stock
  • Optional Day One inflation protection available
  • Business Interruption, either Gross Profit, Gross Revenue or Rent Receivable basis including cover for additional expenditure incurred in maintaining the business
  • Option to include cover for loss of income following Denial of Access, Accidental Failure of Public Utilities, Notifiable Diseases, Vermin or Pests, Defective Sanitation or Murder/Suicide
  • Book debts where accounts records are destroyed
  • Theft of items insured for Material Damage including Damage to the fabric of the premises and costs for replacement of locks following theft of keys
  • Loss of Money whilst on the premises or in transit, including damage to any safe on the premises arising from theft
  • Personal accident benefits following assault on principals and employees carrying money
  • Specified Items of Business Equipment including cover whilst removed from the Premises within the UK
  • Breakage of fixed Glass and Signs including reasonable costs of boarding up and repairing / replacing damaged window frames and framework
  • Loss or Damage to Goods in Transit, either in own vehicles or by third party carriers
  • Deterioration of Frozen or Chilled Stock following breakdown of refrigeration equipment
  • Employers Liability
  • Public and Products Liability
  • Loss of money or other property following Dishonesty of Employees
  • Reduction in the value of the business following Loss of Licence up to £100,000
  • Legal Costs and Expenses up to the Limit of Indemnity selected relating to Employment Disputes, Employment Compensation Awards, Tax Protection, Property Disputes, Tenancy Protection, Compliance and Regulation, Statutory Licence Protection and Contract & Debt Recovery

Suitable Risks;

  • Our Business Combined policy offers flexible insurance solutions for a wide range of manufacturing, wholesaling, retail, administrative, leisure, property owning and accommodation risks

Positive Features;

  • Low claims frequency
  • Trading history and experience
  • Superior security features
  • Overnight occupancy
  • Low flood risk
  • Low Subsidence risk

Unacceptable Features;

  • Unoccupied risks
  • Unspent Criminal Convictions
  • Previous Liquidation / Bankruptcy / CVA


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Claims Information

Our Claim Promise

Attending to claims promptly, handling them efficiently through reputed, reliable and well-known firms of Loss Adjusters and settling the claims in a just, equitable and fair manner is New India’s philosophy to claims.

We handle claims with understanding, sympathy and appreciation of the claimant’s situation.

Making a Claim

  • Please report your claim immediately in accordance with your policy conditions to your Broker and to The New India Claims department using the number supplied below.
  • To ensure a faster, easier service please make sure you have your policy number and any other relevant details to hand.
  • In the event of any loss by theft or malicious damage to your property, this should be reported to the police immediately.
  • A claim form must be duly completed and submitted to The New India Claims department using the address or fax number below within 60 days of the loss/damage.

Please do not delay in contacting your Broker or the Claims Department of New India as soon as you are aware of a claim or possible claim, even if all the above information is not immediately available.

Commercial Claims Office