Stay ahead of the curve!

Sam Leeder of Actus Insurance on why businesses should review their insurance arrangements for 2021 

The new year is always a time of reflection and renewal and, given the events of 2020, I wonder if this has ever been more important to businesses?

The terrible impact of COVID-19 and the upheaval and uncertainty created by Brexit all make for an incredibly difficult period in which to make predictions.

As a result of this, we are all having to be far more agile as businesses and rethink our outlooks for the next couple of years.

These events are obviously impacting on all businesses to varying degrees and this is also true of the insurance industry, which has suffered financially due to COVID-19 and also face increased costs due to Brexit preparations. So, among all the other challenges we face in 2021, we are also expecting insurance rates to increase!

Therefore, in these difficult times it is more important than ever to fully review your insurance arrangements.

Here are our three tips for staying ahead of the curve in 2021:


  1. The earlier the better
    You can’t deal with your insurance renewal too early, particularly if you need to make changes or have complicated requirements. We would recommend reviewing your insurance at least 3 months before your renewal date, however you can review your cover at any time throughout the year.  Often dealing with a review away from the complications of your renewal negotiations can take away some of the stress and the time pressure.


  1. Take some advice

Many SMEs either don’t deal with a broker or deal with someone they have no real relationship with. We would recommend speaking to a local broker, who you can build a relationship with. It’s incredibly important that you trust the advice you are being given, which is difficult when you don’t know the person.


  1. Manage your risk

While this is advice for the medium to long-term, it is incredibly important.  No matter what industry you are in or whether insurance rates are going up or down, there is always one thing that rings true – ‘Those who claim less, pay less’.  So, if you are able to mitigate the risks you present to insurers, you will always get a really good deal.

If you would like to discuss any of this in more detail, please don’t hesitate to get in touch.

Sam Leeder ACII
Actus Insurance
0114 2903624
07718 189476

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