As a business owner we look into the abyss as we face unprecedented uncertainty and unknown changes to our economy and society.
If you’re unfortunate enough to be facing into the renewal of your insurance whilst trying to carve out a contingency plan for your business, it’s worth spending some time to sit down and review your policy, in light of the current situation we face.
Public Liability is rated partially by turnover (in conjunction with business activity and claims) your turnover projection for the next 12 months needs to accurately reflect what you now feel your turnover will be – not what you hoped a month ago.
Employers Liability is largely a function of wages, so here again reduced activity and wageroll needs to be reflected in your projections.
Business interruption is often based on gross profit, this too must be reflective of your business in 2020.
These are real, genuine changes you can do to reduce your insurance costs, sustain quality cover and protect vital cash flow in your business.
These changes, advice and market research from an independent broker, along with smart structuring of your premium payment can help smooth out some way one of the obstacles facing business.
We’re happy to help you at this difficult time.
