Keeping your business risk information up to date is essential to ensure your insurance cover remains adequate, your premium remains competitive, and your insurer fully understands and accepts your risk.

At DPI, we provide bespoke advice and service when arranging your insurance. If there’s anything you don’t understand or need help with, please don’t hesitate to contact us – we’re here to support you.

Below is a summary of the key areas we typically review at renewal for a Commercial Combined policy and why they are important:

1. Business Activities

An ongoing fair presentation of risk is required for your insurance to be valid. Disclosing your full business activities ensures your policy meets expectations and will respond in the event of a claim.

2. Material Damage

This includes cover for Buildings, Contents, Computer Equipment, Stock, and Business Interruption. It’s vital that the insured values are accurate and reflect the full value at risk. Underinsurance could lead to a reduced claim payout through the application of the ‘average clause’.

For further information on setting sums insured, see our downloadable guide: “How to Avoid Underinsurance“.

3. Employers’ Liability

This is rated based on staff wage rolls and the nature of their work.
Clerical roles are considered lower risk, while manual or high-risk roles (e.g., working at height) carry higher premiums. Accurate role descriptions ensure your employees are properly covered.

4. Public and Products Liability

Insurers assess this cover based on your business activities and turnover, including a breakdown by country. For example, selling goods only within the UK poses less risk than exporting high-liability products (e.g., children’s toys) to countries like the USA.
Be sure to disclose all relevant turnover and sales destinations, as many policies exclude overseas product sales unless specifically agreed.

5. Theft and Security Measures

Most insurance policies have standard security conditions relating to theft, that include but are not limited to:

• Locks, shutters and grilles
• Intruder alarms (including whether they are monitored and maintained)
• Ensuring security protections are in force when premises are closed

Let us know if there have been any security upgrades or if your security measures have changed in any way as failure to comply with policy conditions could affect claims.

6. Claims History

Reviewing any claims from the previous year’s helps identify potential risk management improvements. Frequent or high-value claims may affect terms at renewal, but demonstrating proactive loss prevention measures can support favourable outcomes.

7. Health and Safety and Risk management

Modern insurance policies often include conditions relating to:

• Health and Safety Compliance
• Risk Assessments and Method Statements
• Personal Protective Equipment (PPE)
• Electrical Installation Condition Report (EICR)

Aligning your business’s practices with these requirements ensures both regulatory compliance and continued cover under your policy.

8. Insurance General Acceptance – Adverse Financial History, Health & Safety Breaches and Criminal History

Commercial insurance is subject to an ongoing fair presentation of risk and insurance contracts are subject to certain standard general acceptance criteria. It is the ongoing responsibility of the policyholder to ensure any adverse financial history, health & safety breaches and criminal history are disclosed as these are considered material facts that directly impact the insurer’s ability to accurately assess risk. Non-disclosure or misrepresentation of such information can lead to serious consequences, including the voiding of the policy, rejection of claims and legal action. Full disclosure ensures transparency, allows insurers to offer suitable terms and helps maintain the integrity of the insurance contract.

Please Note:
This list is a general guide and not exhaustive and should not be construed as bespoke advice or a personal recommendation. Requirements will vary depending on your specific business and policy type.