A comprehensive guide to avoiding underinsurance

Insurance is an essential business component, transferring risk and providing much-needed financial security. However, for insurance to fulfil its objectives, the cover you recommend to your clients should accurately reflect specific business requirements. Insuring assets for incorrect values, or setting cover limits too low, is likely to result in underinsurance.

Underinsurance can lead to policies not operating as intended, delivering less indemnity than needed following a loss and jeopardising an organisation's ability to recover. Despite its serious consequences, underinsurance remains common, with some claims professionals reporting that up to 89% of their customers are underinsured.

Designed for brokers, this whitepaper looks at how we can work together to eliminate underinsurance.

Topics covered include:
• What is underinsurance.
• How to approach building valuations when insuring property.
• Top tips - business interruption.
• The impact of uninsured working expenses on business interruption policies.