Newspaper Q&A- Increasing premiums & retaining insurance when business is slow
We’re aiming to raise awareness of the Rothbury name in 2009 and we're doing this through a question & answer format in national newspapers across New Zealand each month. It's a good opportunity for us to provide some information to you on common questions our clients have on business insurance.Why are my premiums going up when I haven't had any claims?Not claiming does not mean your insurance premium will stay at its current level. Insurance rates are based on a number of factors including interest rates, industry earnings, reinsurance potential and projections of future claims. Premiums fluctuate over time both up and down, depending on these factors. Right now across the New Zealand market there is an upward trend for insurance premiums.
Contact a broker who can advise on a suitable risk management programme in this area.
Should I cut my insurance when business is slow?
Short term this may seem like a good solution, but when things are tight even a small claim, which could normally be ridden out in the good times, may have a serious impact on your business. A good broker will make sure your insurance meets your current requirements and that you aren’t covering items, staff or turnover you no longer have.
Talk to a broker for more information.
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For more information on Rothbury or for interviews, opinion pieces, articles, or contributions to features, please contact:
Sarah Money
Rothbury Group
Building 5, Central Park, 666 Great South Road
PO Box 62-608
Penrose
Auckland
Email: sarah.money@rothbury.co.nz
Phone: 09 579 9551
Fax: 09 579 1294
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