SPECIAL OFFER FOR PARK ROYAL COMPANIES
When Covid-19 struck and businesses were forced to shut down, Paul Jeffries who had run an events company since the mid-nineties realised that thousands of businesses would still have a list of monthly costs for which they would still have to pay, with limited or no income for the foreseeable future. One of these was business insurance premiums.
“Although many Insurers were under pressure to postpone payments or give a payment holiday, no one was actually offering it. It seemed you would have to call your insurer and plead your case,” says Jeffries. Many are still waiting for their Business Interruption claims to be paid out.
“Our Company has been in West London since we started and we have many local suppliers and customers in the Park Royal and Acton area who were hit very hard by the shutdown – from storage Companies that we had used for years, to car maintenance and repair companies, logistics companies, and production companies. Even accessing Barclays next to Asda where we had banked for over 20 years was very difficult.”
Rerusni – a play on the spelling of insurer – was set up by Jeffries and a group of experienced business owners from the insurance, IT, and marketing sectors to create a 15-month business insurance policy for all businesses, but primarily for SMEs who would be hardest hit. Policies include premises, contents, public and employee liability cover, as well as directors, officers, and professional indemnity insurance.
“Customers pay nothing until month four and then have the option to pay interest-free instalments,” says Jeffries. “Some insurers are charging up to 24.8% APR interest on monthly instalments.”
Initially, the policy was popular within the hospitality industry, as they were the first to be closed but many other sectors have now applied for the Rerusni policy, as it really can help take the pressure off cash-flow until businesses start to see an increase in their revenue.
Rerusni is offering a £25 Amazon voucher to all Park Royal companies that apply and are onboarded.