It’s an interesting time to be in business and recent press reports indicate that more and more people in the UK are “going it alone” as the self-employed numbers rise close to 4.7m. Whilst much is said about the trend for entrepreneurship, enterprise and the increasing number of start-ups, we need to spare some thought for those established in business and the challenges they face.
Penning this today, we still are a United Kingdom, but next week that could all change. We’re currently seeing sterling under pressure and if it’s a “Yes” in Scotland who’s to say how it will impact us all.
Notwithstanding the above, and talk of interest rates rising before 2015, there have been green-shoots, growth in many sectors, optimism and confidence in UK businesses not seen for some years. With growth comes change and change means that business owners should review, monitor and make decisions based on new facts and figures. Commercial insurances that you have in place, can, quite quickly, become less than adequate.
Insurance is all about trust. Clients reveal facts to insurers and underwriting decisions (levels of cover and premium costs) are arrived at. There’s a duty to inform insurers of changes and policies do vary in what they say about this.
If you find yourself in the fortunate position that business is on the up, spare some time to think about your insurance coverage. Your broker will be pleased to hear from you! There are a number of high profile legal disputes running currently about disclosure of facts in the insurance world. Don’t get embroiled in disputes – check your policies today.
If you’re in any doubt about your current insurance programmes contact me in confidence today on 0161 833 2100 or at adrianstewart@caunceohara.co.uk
 – Adrian
If you liked this article, you may also like:
An Introduction to Caunce O’Hara
Insurance Broker Caunce O’Hara’s Adrian Stewart
