Ensuring against insurance claims
Comments |
Even before the snow in December and the devastating events in
Australia and Japan, insurers were talking of the need for premium
increases and a tighter control on claims.
While 2011 may remain an insurance buyers' market for some, a
change must surely come.
The horrific events in Japan, Australia and Brazil can't be
ignored and legal and social issues closer to home continue to have
an impact on insurer funds.
Recent analysis indicates that while motor claim numbers in the
last five years had not grown by any notable amount, the costs
relating to those involving personal injury have almost
doubled.
This year has started as 2010 finished - large savings available
to those that go the right way about looking for them.
But short-term savings should not come at the cost of poor or
inappropriate cover or the threat of large increases next year.
Good planning now could see business owners benefit this year and
beyond.
It appears that there is an art to getting the most from the
market and businesses can't expect to get the right cover and price
without a little preparation.
A number of simple steps can make all the difference.
Start renewal early, months not days ahead and carefully assess
the risks to your business, buying cover that fits your needs.
Work with your broker to put a strong case to insurers,
emphasising good risk management features.
Make the most of offerings that provide long-term solutions.
Right now we are working with insurers that offer three-year
agreements to help fix premiums at today's low rates coupled with
low claims rebates, risk management support and bespoke
policies.
Right now businesses really can make the most of the insurance
market and leaving it until next year may prove too late.
Monday, April 11 2011
The KM Group does not moderate comments.
Please click here for our house rules.