A new report from Beazley insurance company has found the top factors and top asks when it comes to buying business insurance.
According to the Risk and Resilence report, businesses are looking for financial protection, risk insight, risk management-related services, and flexible coverage that meets their changing needs.
Top Five Factors When Buying Business Insurance
Beazley’s research found the top five factors when buying business insurance:
- A policy designed for your type of business
- A long-term insurer partnership
- The cost of insurance
- Fast, responsive claims service
- Ease of understanding coverage
Top Three Asks for Insurance Companies
Meanwhile, the top three asks that businesses have when it comes to insurance companies are:
- A deep understanding of risk by sector and size
- Specialist risk advisory services as part of your policy
- Comprehensive, straightforward coverage
The findings are based on research commissioned by Beazley. The study involved 1,000 senior executives and insurance buyers in the U.S. and UK, from across 10 different industry sectors. Additional insights came from in-depth interviews with a panel of risk and insurance industry experts.
Beazley also found leaders of business organizations in healthcare, warehousing and real estate top the list of those who believe they’re operating in a high-risk environment. Healthcare is the sector that has been most impacted by the Covid-19 pandemic. Warehousing has been profoundly hit by shutdowns. And real estate has also seen major shifts because of the pandemic.
Farris Insurance agency can help you find the business insurance policy that’s right for you and your business. We can help you find:
- a policy that is tailored for your business size and sector
- an insurance provider that will stand by you as a risk partner for the long term
- a support service that will help you with your claims in a fast and responsive manner.
Farris Insurance serves businesses and people across Northwest Arkansas, including Springdale, Fayetteville, Bentonville, Rogers, and throughout Benton County and Washington County. Contact us today at (479) 756 – 6330.