Our top tips to help you to prepare for your insurance renewal..

• Start Early – Preparation is the Key Begin to strategise and collate renewal submission information at least three months before renewal.
• Be Transparent
• Provide risk surveys, risk profiling control, any other features of your risk management program.
• Expect insurers to require more detailed underwriting information and establish the most effective way to present it. Where possible, identify and use marketing differentiators, such as videos profiling risk control, operations, supply chain management, and other salient features of your risk management program.
• Provide a comprehensive explanation of your risk management procedures and OH&S protocols.
• Provide full details of previous claims
• Insurance underwriters will always request this
• Identify common claims issues and obtain advice from your Risk Adviser of ways to mitigate this going forward, thereby avoiding a negative renewal outcome.
• If you can show that you have mitigated the risk of similar claims occurring again, this will assist in obtaining the most competitive terms. For example, you may have had a water leak at your premises however since the incident you have replaced and updated the guttering and regularly have the guttering cleaned.
• Seek alternative insurance quotes with an Adroit Risk Adviser
• Speak to your local Adroit Risk Adviser who can source several alternative insurance quotes in the market. There are still several insurers available to quote your business in the supermarket industry and it is a good time to compare coverage and pricing.
• Time and effort into your application
• Develop a high-quality underwriting submission tailored to industry trends and challenges.
• Insurers are working harder than ever with fewer resources available to them. Having a high-quality renewal submission presented in a single pack saves them time and effort and will lead to a better outcome.
• Your risk will be differentiated based on the underwriting submission and on the quality and nature of the conversations we have with insurers. This will allow underwriters to provide the best outcome they can.
• Stick to agreed timelines
• Allow time before renewal to put your insurance program in place and agree on policy wordings. If a strict timeline is not adhered to, placements can lose momentum while insurers concentrate on other issues.
• Despite the transitioning market conditions, competition among insurers remains strong, and capacity is still available. Working closely with your Adroit Risk Adviser well in advance of renewal will help you secure favorable renewal terms and conditions and forge a partnership built on trust.

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• Start Early – Preparation is the Key Begin to strategise and collate renewal submission information at least three months before renewal.
• Be Transparent
• Provide risk surveys, risk profiling control, any other features of your risk management program.
• Expect insurers to require more detailed underwriting information and establish the most effective way to present it. Where possible, identify and use marketing differentiators, such as videos profiling risk control, operations, supply chain management, and other salient features of your risk management program.
• Provide a comprehensive explanation of your risk management procedures and OH&S protocols.
• Provide full details of previous claims
• Insurance underwriters will always request this
• Identify common claims issues and obtain advice from your Risk Adviser of ways to mitigate this going forward, thereby avoiding a negative renewal outcome.
• If you can show that you have mitigated the risk of similar claims occurring again, this will assist in obtaining the most competitive terms. For example, you may have had a water leak at your premises however since the incident you have replaced and updated the guttering and regularly have the guttering cleaned.
• Seek alternative insurance quotes with an Adroit Risk Adviser
• Speak to your local Adroit Risk Adviser who can source several alternative insurance quotes in the market. There are still several insurers available to quote your business in the supermarket industry and it is a good time to compare coverage and pricing.
• Time and effort into your application
• Develop a high-quality underwriting submission tailored to industry trends and challenges.
• Insurers are working harder than ever with fewer resources available to them. Having a high-quality renewal submission presented in a single pack saves them time and effort and will lead to a better outcome.
• Your risk will be differentiated based on the underwriting submission and on the quality and nature of the conversations we have with insurers. This will allow underwriters to provide the best outcome they can.
• Stick to agreed timelines
• Allow time before renewal to put your insurance program in place and agree on policy wordings. If a strict timeline is not adhered to, placements can lose momentum while insurers concentrate on other issues.
• Despite the transitioning market conditions, competition among insurers remains strong, and capacity is still available. Working closely with your Adroit Risk Adviser well in advance of renewal will help you secure favorable renewal terms and conditions and forge a partnership built on trust.

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This article originally appeared on Adroit Insurance & Risk Website and has been published here with permission.