Business Owner's Desk
Plain-language insurance guidance
Practical answer
How often should insurance be reviewed?
Formally at least annually—and whenever the business materially changes.
The short answer
Renewal is a checkpoint, not the only review date. Acquisitions, new premises, machinery, products, contracts, territories, turnover, payroll, construction, cyber systems, and major claims can all require immediate attention.
What to do now
- 01Set quarterly checks for values, turnover, payroll, locations, stock peaks, and major contracts.
- 02Trigger an immediate review for acquisitions, disposals, projects, shutdowns, new products, or overseas activity.
- 03Start the annual renewal early enough for valuations, surveys, data collection, and market negotiation.
- 04Keep a risk-change register showing notification date, recipient, insurer response, and policy amendment.