Underinsurance is a potential risk for many Australian small businesses. A 2019 report by our insurer partner QBE found that 62% of SMEs said they are unlikely to have the right insurance in place to protect their business.1
When it comes to professionals, the traditional focus on advice-related liability claims (and therefore the importance of Professional Indemnity insurance*) may ignore other risks that they could be facing.
Now may be the right time to talk to them about Business & Office Packs.
Talking to SME clients about Office Packs
Your SME clients in professional occupations may be well versed in Professional Indemnity insurance, given the advice-driven nature of their services. They may even approach you already knowing that they want or need this type of protection, as well as products such as Management Liability *or Cyber Liability*.
But, they may be less aware of other risks to their business that Business & Office Packs* can help guard against.
Business & Office Packs can be customised to the needs of your professional SME clients. Professionals face exposures from client visitations; damage to computers, other contents and property; and can be affected by events causing business interruption. This means that insurances like Public Liability, Contents, General Property, Business Interruption, Tax Audit and Theft are potentially relevant to a wide range of business professionals.
BizCover for Brokers’ Business & Office Pack offerings
Our Business & Office Pack offerings cover over 6,000 occupations, including many business professionals—such as accountants & bookkeepers, consultants, mortgage brokers, and many more.
The B4B platform boasts a broad appetite for Business & Office Packs:
- Offered by three insurer partners – AIG, QBE and Hollard
- Limits up to $20 million
- Insured turnover up to $25 million
- Cover for business with up to 100 employees
You can also bind multiple products for your clients with the B4B platform using just a single data entry. Help your professional clients fully protect their small business by binding Professional Indemnity, Management Liability or one of five other products at the same time.
Log in to bind a Business & Office Pack for your SME clients.
Ready to streamline your broking process? Sign up now to get started.
*As with any insurance, cover is subject to the terms, conditions and exclusions contained in your policy document. The information contained on this webpage is general only and should not be relied upon as advice
1. https://www.qbe.com/au/news/why-62-percent-of-smes-underinsured, accessed 3 June 2021
BizCover for Brokers is a business name of BizCover Pty Ltd (ABN 68 127 707 975; AFSL 501769). BizCover for Brokers does not compare all general insurers or insurance products in the market, only those listed on our website. We act as agent of the insurer in respect of any insurance policy purchased through us and not as the agent of you or your client