Message from Our Advertiser -
Arthur Savage Insurance

A growing business often brings with is a period of rapid change and adaptation, which in turn causes increased pressure for the business’ Directors and senior management team. With resources under this kind of pressure it is hardly surprising that the more routine, but nevertheless fundamental, parts of managing a business can easily be overlooked.

 

 

Insurance is particularly vulnerable to being neglected, often only being considered when the annual renewal letter arrives or in the event of a claim. However this, as Barry Shereston of independent insurance brokers Arthur Savage Insurance explains, can be a costly mistake.

“It’s ironic that at the very time when a business’ resources are stretched to their limits, it also becomes most important to allocate time for reviewing your insurance arrangements.

“If a business fails to keep its insurance arrangements in step with its growth, there is a real danger of it becoming grossly underinsured. In addition, as a business becomes larger, the complexity of its operations increase, and therefore its insurance needs are likely to broaden.

“It’s an excellent idea for a business in this situation to approach an independent insurance advisor and broker, such as ourselves. We have significant experience and understanding of the risk issues facing the growing business and can provide the appropriate advice in good time.

“Our clients are often surprised by the number of things which can affect their insurance cover, which is where we can help. We keep in regular contact with our clients to ensure we know what’s going on in their business and what their future plans are. We are ideally placed to advise them on which of the polices currently on the market match their needs, thus ensuring they are properly covered for their business activities without incurring any unnecessary costs.

“What’s more, our excellent relationship with many of the UK’s leading insurers means we are often able to bring our clients the additional benefit of cover which is enhanced from the market norm, at a lower premium.”

According to Mr Shereston, the following are the most common reasons for reviewing insurance arrangements for a business undergoing a period of growth:

• Merging with or acquiring another business
• Buying or building new premises or extending existing premises
• New contracts, suppliers and customers
• New markets and launching new products
• New plant or equipment
• New drivers or cars

Arthur Savage Insurance is based in Dorchester with an extensive UK client base. As a Member of Broker Network, the UK’s leading network of commercial insurance brokers, the company is able to offer its clients centrally-negotiated policies from the UK’s leading insurers. For further information call 0800 1974809 or visit www.arthursavage.co.uk