Underinsurance
Only 14% of smaller SMEs have business continuity plans: Aviva
Aviva has urged brokers to keep having the conversations needed with clients on business continuity plans as the insurer revealed only 28% of firms have one in place.
Lawyers urge brokers to be vigilant about their own E&O
Law firm RPC has warned brokers to be vigilant about their own errors and omissions, and to stay on top of documentation against a backdrop of customers potentially opting for cheaper, but less protective insurance, in the cost-of-living crisis.
Loadsure boosts freight offering with Tokio Marine Kiln capacity backing
Loadsure has received capacity backing from Tokio Marine Kiln to enhance its freight protection offering.
Brokers urged to tighten safeguards amid threat of client underinsurance backlash
Brokers are being urged to tighten safeguards amid the threat of businesses, suffering problems from underinsurance, taking legal action.
Half of all UK businesses underinsured: Aviva
As many as 50% of all UK businesses are underinsured, according to Aviva estimates.
Video Q&A: Close Brothers Premium Finance on how brokers can grow business in challenging times
Seàn Kemple of Close Brothers Premium Finance discusses the factors affecting business growth in the current market and the opportunities afforded by premium finance
Gallagher calculates 40% of commercial properties underinsured
Gallagher has assessed that two in five commercial properties in the UK are currently underinsured with the problem hitting a record high.
Ten ways to combat underinsurance
Brokers play a key role in helping businesses get the right amount of cover and in times of inflation, more than ever, this role becomes absolutely crucial in avoiding underinsurance, argues Nick Hobbs, chief distribution and regions officer at Allianz…
Blog: Lending through the cycle helps brokers to support their clients
Given the economic uncertainty, customers’ ability to preserve cash is likely to drive demand for insurance financing option argues Elliott Hayes, director of sales, commercial lines, Close Brother Premium Finance.
RSA survey reveals underinsurance concern among brokers
Research which was conducted by Censuswide among 207 brokers on behalf of RSA last month, has revealed that 93% of brokers believe underinsurance poses a major threat to UK businesses during economic unrest.
News analysis: Agriculture – how can brokers help the sector face up to risks, old and new?
Whether it is inflation, weather, rural criminals or staff shortages, the agricultural market has certainly borne the brunt when it comes to feeling the force of social and climate change. Martin Friel investigates how the insurance sector is helping…
Blog: Inflation and underinsurance – the silent claim assassins
The spiralling cost of materials in the construction industry means devastating consequences for reinstatement claims, says Lee Goodwin of Oakleafe Claims Loss Assessors
FCA warns insurers to support customers’ wellbeing during cost of living crisis
The Financial Conduct Authority has expressed concerns, in a new 'Dear CEO' letter, that customers may cut-back on the insurance they need as pressure mounts on household budgets.
Biba launches second guide on underinsurance
The British Insurance Brokers’ Association has teamed up with QuestGates to publish a guide to valuations for members to use with their customers.
In Depth: Underinsurance - data, analytics and trading
Sam Barrett explores how new technology is helping to prevent underinsurance and boost trading
Blog: The rising threat of underinsurance
Chris Andrews of Aviva discusses how today’s challenges could be creating an increased risk of underinsurance
In Depth: Underinsurance and the value of risk management
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
Lockton warns on hospitality underinsurance
Inflation, scarcity of building materials and labour have affected valuations and businesses should review their cover according to Lockton head of hospitality, Andy Nicholson.
GWP up but profit and COR deteriorate for Allianz Holdings
Allianz Holdings has posted a drop in profit of 42%, from £170m to £99m for the first half of 2022.
Regional brokers spy growth in real estate
The regional real estate market is in rude health, with six in 10 brokers (56%) reporting growth over the past 12 months, and one in six (16%) reporting significant growth, according to Ecclesiastical.
Biba launches underinsurance guide
The British Insurance Brokers’ Association has launched a guide to support brokers in helping their customers avoid the risks associated with being underinsured.
Aviva and Allianz surveys flag inflation and climate impact issues for SMEs
Inflation has toppled business interruption as the number one concern for small businesses in a survey by Allianz Commercial while separate research by Aviva has found three-quarters of SMEs believe businesses should work on reducing their environmental…
Analysis: The inflation challenge
The ever-increasing rate of inflation in the UK and certainty of more to come has led to warnings of challenges for brokers and insurers alike with issues ranging from difficult conversations on premium rises to underinsurance and the prospect of turning…
Blog: Five themes that could shape the insurance industry in 2022
Peter Davis, head of customer and distribution at Zurich UK, shares his predictions for the year ahead.