Every business should be adequately insured. A well-planned, thorough insurance program is critical regardless of the nature or size of the operations.

But what happens when getting protection for your business is, well, just proving to be a little more difficult than you had thought?

That can happen for a variety of reasons. It could be simply that your business is in an industry that involves abnormally high levels of risk. Forestry, for example, or a meatworks. Perhaps a huge claim was recently made. Or a policy renewal was rejected.

Understandably, insurance underwriters have no choice but to closely scrutinize the risks brokers are bringing them. Depending on their appetite for risk, they will measure a company’s previous safety performance and its risk management systems before taking on new exposures.

So what is a high-risk business? Typically, it often has high liability, is located in high-risk address or in an “unstable” industry where physical injury, damage or loss is higher than normal. A bad claims record and lawsuits are often associated with such businesses.

As one SME owner discovered recently, it did not matter that his business had a clean record as far as claims go. Because his business is in an industry that has been blighted by high claims payouts and lawsuits, the underwriters asked for stringent internal risk processes before agreeing to provide cover.

Here is the good news. Being high risk doesn’t equate to being uninsurable. Don’t jeopardise your livelihood by taking no for an answer.

It’s situations like this that demonstrate why you need us by your side to work out your business’s unique requirements.

We can advise on your risks, draw up a proposal that covers those risks you can’t wholly eliminate and then negotiate on your behalf with the underwriters.

So don’t jeopardise your business by taking no for an answer. High risk doesn’t mean the business is impossible to insure.

We have the experts, experience and network to help your business secure the high-risk protection it needs. We know that every business is unique and that you, the owner, deserve all the help you can get.

Contact us today.

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