There are around 4 million businesses in the UK with small businesses accounting for around half of all employment
Small businesses, shops, offices, public houses, restaurants, surgeries and property owners insurances broadly all fall under the umbrella of package insurances in the commercial insurance sector.
Insurers provide some of the widest covers available for these classes of business and will usually provide very wide cover based on very limited information.
Package cover premiums are generally lower than most other classes of commercial insurance.
However, a small number of claims can adversely affect premiums, therefore, a positive approach to reducing risk can provide competitive long term premiums.
- Cover levels required
- Risk management