BrokerFest 2021: SMEs face underinsurance risk around intangible assets

Panel 1 BrokerFest 2021

Although cyber cover for SMEs is a ‘tough sell’ for brokers, these businesses should be encouraged to seek expert advice ‘because they won’t understand intangible risks as well as brokers do’

SMEs “have a real problem” understanding the value of intangible perils, such as a cyber attack - especially because a higher quality cover for this type of risk “is going to have a price tag that goes with it”, said Simon McGinn, chief executive of Allianz Commercial.

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