Markel boss Mooney warns SMEs are 'consciously' choosing to underinsure
Experts have called on greater education around renewals and the true value of insurance as underinsurance has started to become a conscious decision for SMEs.
Speaking at the Association of British Insurers conference in London yesterday, Martin McTague, national chair of the Federation of Small Businesses, noted there are three key factors preventing SMEs getting the right type of cover, the first being knowledge.
“A lot of them will be faced with a bundled product that they don’t really understand and can’t desegregate. The other thing is, whether they talk to a broker or buy online is that they believe they’ve got cover they essentially haven’t
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