How many times have you looked at the insurance of a small or medium sized company and felt that something was not quite right? That the business was being insured for what the owner wanted, rather than what it really needed? If that happens often, almost certainly you are not alone.
Estimates show that about 70% of SMEs in the UK are under-insured, whilst small enterprises are especially exposed to severe financial losses if closures prevent or restrict trading over a period of weeks or even months.
This blog highlights the perils of underinsurance for SMEs, and how insurers and brokers can combine education, data and technology to make insurance relevant and easier for SMEs.