Amid the coronavirus pandemic, help is at hand – as long as you know where to look.
Now, the Chartered Insurance Institute (CII) is helping out its members with a new guide detailing the full list of financial support being made available from the government – as well as outlining how it can be accessed and a breakdown of the eligibility criteria.
For example, it explains how businesses can get support by deferring VAT and income tax payments, how they can access the job retention scheme, as well as the corporate financing facility that is available. In addition, it includes an explanation of the self-employed income support scheme and a host of government and third-party links for companies that might be enduring financial hardship.
“While the ready willingness of businesses to prioritise public health is admirable, putting a full stop on business-as-usual could in itself have drastic and long-lasting consequences for the UK economy, as well as each individual business, and every single worker, too,” said CEO Sian Fisher.
“It is welcome news that the government has taken action to protect the UK’s businesses during an economic crisis the likes of which have never been seen before. We at the CII encourage all of our members to review this document to see what support is available during these unprecedented times.”
In addition, Matt Connell, the director of policy and engagement at the CII, gave his reaction to the FCA stating how managers should identify who is able to work at home, describing the use of the Senior Managers & Certification Regime as a “welcome intervention.”
“Many insurance and personal finance professionals will be carrying out vital work on behalf of their customers, to ensure their queries are answered, that their policies remain intact and that their claims are answered fairly,” he said.
“Therefore, we think it is only right that despite the important work they are doing, their health and wellbeing is a priority and are glad the regulator is doing all it can to support this.”
