How we process your Renewal

How we deal with the [renewal] of your policy is an important aspect of the service that we provide. There is a lot of preparation work, review and recommendation which eventually leads to us providing the right advice for which insurance policy to take out on [renewal] date. Some of this work you will get first hand experience of while other parts are behind the scenes but you will always be put in a position where you can make an informed purchase of the cover safe in the knowledge that we have done our bit to help you manage the risks to your business.

The [renewal] of your insurance policy is one of those things that happen every year and sometimes it must just feel like another bill to pay coming through the post.

For our clients nothing could be further from the truth.
Even on the simplest of cases [renewal] starts for us at least 45 days prior to the end date of the existing policy. We collate the [renewal] information from your insurer and check the scope of cover taking time to ensure that the cover provided by the renewals does not materially differ from the cover that provided in the previous year.
After that we review what’s happened over the last year and take into account both changes made to the policy, matter arising from any surveys and claims or incidents that have been dealt with - which all leads to us making a decision about the suitability of the [renewal].
Sometimes this will require little involvement from you but on other occasions it may seem like we are starting again from scratch.
Once we have done this our next step is to consider any changes in the insurance market place which will also lead to a review of the [renewal] price.
Whichever process we use you can be safe in the knowledge that when we offer a [renewal] it provides the same level of cover or better than the expiring policy, provided at a competitive price. In the unlikely event that this would drastically increase your costs we will always provide you with a cost and cover balance so that we can maintain the value of your policy.
We never assume that a policy will be renewed with any given insurer but we will try to provide consistency of underwriting maintaining your cover with the same insurer if appropriate and possible.
Because insurance is an incomplete risk transfer mechanism we are still here to advise how your policy works in conjunction with your disaster recovery plan and we will keep you informed.
Where we recommend a change in underwriter at [renewal] we will also advise you why you should change and how the new cover works for your business.

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