Businesses are being reminded that as they grow, they need to update their company insurance policies.
Titan Insurance, one of the UK’s largest intermediaries for a vast range of businesses and self-employed workers, believes that too often management teams forget to reconsider their company insurance as they focus on expansion.
Titan cite the example of the regional airline Flybe which has just announced plans to seek a public listing via a stock market flotation. The company claims to provide four times as many domestic UK flights than any other airline. And as it moves to a public company status, it will have to examine and renew most of its company insurances.
Chief Executive Officer of Titan Insurance, said:
“It’s easy to see how management can forget to constantly monitor their company insurance cover as their business grows. There can be so many demands on their time, that thinking how their insurance needs might have changed is not their top priority.
“But suddenly operating in an unfamiliar area, either on the production, or sales side, can bring new responsibilities. If they suddenly find themselves effectively uninsured, the damage in terms of cost and harm to reputation can be immense.
“We advise all our clients to regularly check their cover to maintain insurance maximum protection.”
As a specialist provider of insurance for all types of companies, Titan is one of the few intermediaries which offers expert advice and help across so many industrial and commercial sectors. It also offers market leading payment terms.
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