Why are Insurance Forms so Thorough?
Completing reams of insurance forms may feel like the bane of your existence, but the bottom line is that the more relevant information you provide, the more suited your covers will be for your specific business situation. It may even highlight areas of exposure that you didn't even realise you had, and in the event of a crisis, that's a situation no one wants.
When you provide details of your business structure, performance, activities and associations, you are providing H2 Insurance Solutions with a clearer understanding of your business and the level of cover it requires. Buying "off the rack" policies directly from an insurer provides a one size fits all solution, albeit terribly, it doesn't take into account the peculiarities of your business. ANZIF describes it as a you "don't know what you don't know" scenario.
Moreover, the alarming result is businesses that are under insured for exposures that the experienced team at H2 Insurance Solutions could have highlighted. During the preparation of new client submissions or renewal reviews, it is part of H2 Insurance Solutions standard procedure to ensure that a comprehensive profile of the business is constructed.
Anthony Pagano, Vero National Commercial Intermediaries Manager, writes in "Bridging the Risk Gap" about the logic and dangers of these lapses in commercial coverage. Citing the "it'll never happen to me" syndrome as the number one barrier to professionally minimising exposure and the seemingly prohibitive cost of the right insurance solution.
We understand your limited time and competing priorities, when it comes to ensuring that your business exposures are fully covered, that is H2 Insurance Solutions top priority. Your attention to detail is invaluable in the process of providing you with the best solution possible.
Insurance and Risk Professional, (2016). "Under Insurance Throws up Opportunity for Brokers", Retrieved on: Tuesday, 29 March 2016. Retrieved from: http://www.insuranceandrisk.com.au/sme-underinsurance-throws-up-opportunity-for-brokers/
Know Risk, (2016). "Using a Broker vs Buying Direct From an Insurer", Retrieved on: Tuesday, 29 March 2016. Retrieved from: https://knowrisk.com.au/insight/articles/using-a-broker-vs-buying-direct-from-an-insurer
Pagano, A. (2016). "Bridging the Risk Gap", Retrieved on: Tuesday, 29 March 2016. Retrieved from: http://www.vero.com.au/vero/bridging-risk-gap