For many local businesses, the start of the new financial year also marks the start of a new insurance cycle. If your policies are coming up for renewal, now’s the time to sit down and carefully review your arrangements.
A challenging market.
Reviewing your insurance each year is always a good idea. But it’s especially important this year, given the Australian insurance market – which had been stabilising – came under immense pressure in the first half of 2022, largely due to the catastrophic storms and flooding on the Eastern Seaboard. Record damage claims have sent premiums increasing again and it’s a similar story for many excesses. Making things even trickier to navigate, the capacity for the market to cover certain types of risks is also reducing. There’s a real possibility some policies may not be offered for renewal at all.
Talk to us!
Given these factors, it’s absolutely vital to carefully review the detail of what’s on offer before you renew.
The best way to approach this, of course, is to speak with us. Together we can check your policies, explore the options and help you achieve the best possible outcome for the year ahead.