At the moment, most insurance companies are nervous when it comes to offering insurance to people working at heights. If you are in this situation you will generally find that not only will the premium for your cover increase due to your occupation, you may also have any claim related to your work excluded from the policy claims set.
There is one insurance company who will offer life insurance and critical illness cover for those working above certain heights, without an occupational exclusion or price increase! But not for long!!
Why are the insurers concerned?
For those of us who understand that to work at heights you must be highly qualified, adhere to strict safety procedures and be fit and healthy, the insurers stance can seen excessive. The problem is that regardless of all the safety equipment and experience that you may have, working at heights is inherently more risky than say working at a desk.
What is going to change?
Soon, there is going to be a change with one of the main insurers within the UK which is expected to result in the change in underwriting for those working at heights. This means that for anyone working at heights who needs insurance you really should be arranging the cover within the next month to avoid this risk. We expect insurance to be much more difficult to source by the end of the year for work at certain heights and locations.
What if I already have cover in place?
Your terms should be unaffected if you already have cover in place you should however check with your insurer or broker if you are in any doubt.
What if I do not need insurance?
If you have a mortgage, loans, credit cards or dependants then you probably need some form of protection insurance in place if you were to die or be unable to work due for health reasons. The best thing that you can do is speak to an insurance adviser who can direct you to the right insurer for your needs. If you do arrange your cover in the next month and are told that the policy will have an occupation exclusion, stop and shop around! Whilst you have access to an insurer who can offer to insurance at standard terms covering your occupation, you may as well grab it while you can!!
Who is going to be affected?
Basically anyone who works at heights for their job. This can include:
- Aerial Riggers
- Offshore workers
- Rope Access Technicians
- Window Cleaners
What should I do now?
Speak to an insurance adviser. Find out if you need insurance or not. Get something in place without an occupational exclusion!