In-depth: Looking out for the little guy

Tackling underinsurance

Failing to take out adequate insurance can have dire consequences for businesses and their brokers, with both parties potentially putting their livelihood on the line. But, although there’s much at stake, underinsurance is alarmingly common in the SME sector.

According to Insurance Age’s Spring Sentiment Survey, more than 85% of brokers have taken on new clients who were underinsured. “We do see instances where a new client has a sum insured that’s too low or they’