Making sense of the insurance market

How can we help you navigate the business insurance market?

Understanding insurance market cycles Insurance premiums are governed by the insurance cycle - which moves between a 'hard' and 'soft' market, based on economic and other factors. In a soft market, insurers are chasing market share - competing with lower premiums and better underwriting terms - and making it easier and cheaper to get the cover you need. Factors like a worsening economy, higher claims - due to a string of natural disasters and storms - and poor investments can lead the market to harden. In these times, premiums tend to be higher - and underwriters less willing to take on additional risks.

Tip #1 - Access to local and international markets With access to international and local insurance companies, we have access to policies from around the world - and at home. And because not all markets are at the same point in the cycle that means we can find you the right terms and policy - and potentially save you money

Tip #2 - Expert advice

Even in a hardening market, there are things you can do to get more value from your insurance. By putting robust risk management processes in place and being more strategic about your business risks, you can potentially lower the cost of your insurance premiums. As insurance experts, we can advise you on what you can do to make your insurance dollar go further.

Tip #3 - Negotiating power

Because we are part of the Steadfast network, we can negotiate with insurance providers to help get you the best possible terms. Our regular cover reviews, effective claims management processes and negotiating power can also help to minimise future price increases - so you can afford to maintain the cover you need.

A hardening market can mean higher premiums and tougher underwriting decisions - so it is worth getting an insurance expert.

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