In depth: How to reduce underinsurance through effective risk management

Underinsurance continues to be a massive problem. Martin Friel looks at how risk management could help brokers combat this growing trend with benefits for all.

When the industry talks about underinsurance, it’s usually SMEs under the spotlight, but such is the rampant nature of inflation, that underinsurance is a real risk right across economy.

“It’s something every business needs to be aware of, not just SMEs,” says Richard Bevins, director of corporate and risk management at Verlingue.

“Rising inflation, and increasing fuel and energy prices are having a significant impact on price of goods, and how long it takes for materials to get to where they