In Depth: Underinsurance and the value of risk management
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Sam Barrett explores the threat of increasing underinsurance amid a cost of living crisis and asks how brokers can help their clients and ensure they are covered to the right level
Underinsurance is a perennial problem for the insurance sector but, with the cost of living crisis putting finances under pressure, it’s set to become even more of a challenge. To prevent policyholders putting their livelihood on the line, the insurance industry must highlight the implications of underestimating cover requirements.
It’s a conversation that’s becoming increasingly common between brokers and their clients. “We are always highlighting the issue of underinsurance with our clients
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