As we start to hit back into gear for 2024, it’s a good time to think about the months ahead and consider whether you have the right cover for your property and business assets.

One thing to think about is - are you exposing yourself to risk by being underinsured?

The Vero SME Index survey found that SMEs are increasingly prioritising price and either reducing their total insurance coverage or the number of items covered. This is not surprising, given the current economic conditions; however, less or no coverage for items can mean they’re underinsured – and underinsurance means increased risk exposure.

This is where brokers can help by assisting small and medium businesses to obtain the right coverage to ensure they remain covered through challenging periods, without risking underinsurance, which can be the last thing you need at claim time.

There are a number of options that brokers can suggest, to support clients through the tougher times. If you’d like to find out more, just reach out to a member of the IANZ network.