Insurance regulators are on your side
Insurance is a heavily regulated industry.
In the UK the Financial Conduct Authority makes sure that all insurers will be able to meet their obligations and are solvent so that they can pay any claims that arise.
So SMEs can take comfort in the fact that any insurance company that they use, and again a broker will help them choose the right insurer, they will be protected in the event of a claim, and it’s also there to make sure that the claim is settled promptly and fairly.
So it’s not just a question of being able to meet the claim in terms of solvency, it’s also to make sure that the whole claim process works very well.
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