Almost half (48%) of business insurance buyers say their trust in insurance has increased since the start of the pandemic, but only 54% believe that insurance is meeting their businesses’ challenges very well.
A new report from specialty insurer Beazley highlights that in addition to financial protection, businesses are looking to their insurance partners to provide them with more risk insight, risk management-related services and flexible coverage that better meets their business’ changing needs.
The findings are based on research commissioned by Beazley involving 1,000 senior executives and insurance buyers in the U.S. and UK, from across 10 different industry sectors, plus additional insight from in-depth interviews with a panel of risk and insurance industry experts.
The survey found that a quarter of business leaders struggle to understand what coverage they need, while 19% find it hard to get insurance tailored for their sector or specialty business. A worrisome 44%