If you have had the same insurance policies in place for a long time, there is a good chance that your circumstances are not the same as when the policy was first taken out.
As part of the portfolio management approach we take with our insurance clients, we encourage regular review meetings to help make sure you continue to have the right level of protection and recommend changes where necessary to account for either new or emerging risks to your business.
It is good practice to not only review your policy each year, but more importantly, when there are changes in your regular circumstances.
When should you have your policy reviewed by your Account Manager?
There are many situations that should trigger a review of your insurance policies, including, but not limited to, changes in the following:
The benefits of a Planned Cover broker reviewing your insurance policies
By reviewing your current situation, Planned Cover Account Managers can help ensure you have the right types of cover required and the correct sums insured, so you have peace of mind that you are adequately protected.
Policy review process
A typical policy review (outside of any COVID-19 restrictions) will involve:
1. Setting up the meeting; we will set a meeting at a time and place convenient to you.
2. During the meeting; we can discuss any changes in your business and listen to any feedback you may have.
3. After the meeting; if there are any changes to your business, we can create an action plan and recommend adjustments to your policies to help ensure you are appropriately covered. We can then update your policies as required and provide you with certificates of currency to confirm your cover.
Obviously, during COVID-19 restrictions, you may choose to arrange a phone consultation or make other virtual meeting arrangements.
This information is provided to assist you in understanding some of the common considerations in reviewing your insurance policies. It does not cover everything you need to consider, so please contact your Planned Cover Account Manager if you think you would benefit from a review of your insurance policies.
State Manager VIC
(03) 8508 5400
State Manager NSW/ACT
(02) 9957 5700
State Manager QLD/NT
(07) 3017 1500
State Manager WA
(08) 9261 1200
State Manager SA/TAS & National Business Manager
(08) 8363 7366