Is your business adequately protected?

A business protects it’s assets by purchasing insurance for buildings, stock, contents etc and it’s also important that a company insures the earning capacity of the business. “It is a fact that after a major loss, 50% of businesses do not survive as they do not have the correct policy cover in place, so it is CRITICAL a business get’s this right.

Business owners depend on CIA to provide advice to protect their business  and their lifestyle. With this in mind, it’s our duty to help business owners understand the issues.

Half measures or linking sums insured or cover to keep price down can only lead to unhappy and out of pocket clients. A review of building sums insured and Business Interruption (BI) cover needs to be carried out regularly. See the following graph:

Increased costs of rebuilding and replacement costs over the last 3 years

Further research shows since 2003, 47% of businesses have made no change to Building sums insured. The danger of under-insuring is evident in statistics. For example:

Even those with Business Interruption insurance may not be fully insured. For example, after a major fire, 50% of businesses do not survive. Yet 84% of SME businesses believe they are fully insured  no wonder only 50% of businesses survive a large loss.

Don’t take the chance!
Don’t wait to have a claim before you discover your business is ‘exposed’. Simply talk to us and let us review your current insurance arrangements.

Download our Business Insurance Information Sheet.



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