Risks from reducing insurance cover in a recession

July 12, 2010 2:13 pm

The British Insurance Brokers’ Association (BIBA) has issued warnings about the dangers if businesses reduce their insurance cover during the recession as a way of cutting costs. They have quite rightly pointed out that this can pose a significant financial risk if disaster should strike.

For some business it may be too late and they may now be struggling to cover their losses following an incident such as a fire or flood. If you find yourself in this position, then you would benefit from the support of an expert loss assessor such as Morgan Clark.

Morgan Clark is one of the UK’s leading firms of commercial loss assessors. While we won’t be able to reverse the effects of under-insurance, we will do everything we can to mitigate the damage to your business.

We have worked with many businesses in a similar position, and have found imaginative ways to overcome the shortfalls, for example through implementing judicious re-structuring, or sourcing more economic replacement equipment

If you are experience problems through under-insurance, then contact Morgan Clark now.