For brokers, this isn’t just a headline, Storm Claudia is a reminder that SMEs often need proactive guidance to protect their businesses against increasingly frequent and severe weather events leaving businesses facing property damage, disruption, and unexpected costs.
Specialist MGAs, like Folgate Underwriting, are uniquely positioned to support brokers in this situation, providing the flexibility, insight, and expertise needed to help SMEs build real resilience against the risks faced by businesses.
Be Prepared
Storm Claudia emphasised that many SMEs are reactive rather than proactive when it comes to severe weather:
- Some lack clear emergency procedures or contingency plans.
- Others have insurance gaps, discovering after a storm that certain risks, such as business interruption or temporary accommodation aren’t covered.
- Many underestimate the time and cost of full recovery, from property repairs to lost revenue.
Resilience isn’t just about bouncing back; it’s about ensuring continuity and protecting the business from future events.
Supporting brokers in advising SMEs
By partnering with Folgate, brokers can:
- Recommend coverage that genuinely aligns with client risks.
- Quickly adjust policies as threats evolve, whether due to weather patterns, business growth, or operational changes.
- Access expert guidance on risk management, and business interruption planning.
This partnership turns a challenging environment, like the aftermath of Storm Claudia, into an opportunity to strengthen client relationships and demonstrate advisory value.
Folgate Underwriting: A strong partner for brokers
Folgate offers three distinct advantages that consistently strengthen the support we provide to our brokers:
- Adaptability: We craft bespoke policies that reflect the specific exposures of SMEs, whether that’s a boutique shop, an office, or a hotel. This ensures clients aren’t paying for irrelevant cover or, worse, being left unprotected where it matters most.
- Data-driven insight: We leverage data to understand emerging risks, from storm frequency to regional vulnerability. Brokers can rely on these insights to advise clients proactively, positioning themselves as trusted advisers rather than reactive intermediaries.
- Expert underwriting: Unlike generic insurers, MGAs like Folgate focus on bespoke underwriting. Offering deep expertise and a tailored approach, we deliver faster, more accurate underwriting, helping brokers provide clients with confidence and transparency in uncertain situations.
Conclusion
Storm Claudia underscores a growing reality for UK SMEs: resilience requires more than reactive measures, it demands foresight, tailored coverage, and expert guidance. For brokers, MGAs offer the adaptability, data-driven insight, and specialist underwriting needed to protect clients effectively.
As additional storms approach and talk of another “Beast from the East” grows, this is a timely moment for brokers and clients to reassess their cover and ensure their businesses remain protected. Our underwriting team is on hand to support, contact us today. [Contact Us – Folgate Underwriting]
In a world of unpredictable weather, strong partnerships between brokers and MGAs aren’t just beneficial, they’re essential for helping SMEs thrive, even when the storms hit.