The definitive guide to commercial insurance renewal
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Improved conditions of insurance policies
Another vital component of the insurance renewal is the conditions of the
policies. By providing a comprehensive picture of all your risk and exposures,
many insurers will provide more favourable conditions. For example, better deals
on retrospective dates, increases in limits, wider terms on the way claims are
reported and less stringency on timescales.
The result is that it is easier for the risk/insurance manager to meet the conditions of the
policy, and so avoid insurers denying the claims on grounds that the conditions weren't
met. Again, any denied claims would have an impact on the company's P&L
