Brokers urged to tighten safeguards amid threat of client underinsurance backlash
Brokers are being urged to tighten safeguards amid the threat of businesses, suffering problems from underinsurance, taking legal action.
With inflation booming, Aviva estimates that nearly half of all SMEs are underinsured and Gallagher believes around 40% of commercial properties are underinsured.
Against this backdrop, experts in helping brokers manage risk are now advising they take the necessary steps to protect themselves.
Director Richard Webb, from professional indemnity and liability specialist Manchester Underwriting Management said: “How do brokers minimise their exposure to potential claims from underinsurance where
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