In-depth: Looking out for the little guy
Business from the SME sector is a lifeline for many regional brokers and, on the whole, intermediaries do a great job for their clients. However, lack of clarity on underinsurance and reputational risk, along with market-shaking issues such as IPT and Flood Re, can all impact on the local broker. Sam Barrett finds out more
Tackling underinsuranceFailing 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
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- Zurich strikes five-year capacity deal with MGA Freedom Services
- Aviva to open branches in Chelmsford and Southampton
- Pen inks £150m social housing capacity deal with SiriusPoint