Three quarters of brokers still concerned about underinsured clients, claims Aviva
According to Aviva’s latest Broker Barometer survey, 73% of brokers are concerned that some of their clients may be underinsured as just 24% of brokers’ clients had increased their sums insured to an adequate level.
It found brokers ranked underinsurance second on a list of market challenges they are concerned about, behind insurer service.
A previous survey by Aviva found that of the businesses who said they are likely to reduce their insurance coverage, more than half claimed it was driven by cost-cutting considerations, despite the risk of high unforeseen costs in the event of a future claim.
In its latest research, Aviva also found brokers have mostly succeeded in educating customers on the impact of
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