Business Owner's Desk
Plain-language insurance guidance
Practical answer
What if my turnover increases?
Growth can make business-interruption figures and liability exposure stale.
The short answer
Higher sales, new customers, longer lead times, or increased payroll may change the financial values and rating information behind several policies. Waiting until renewal may create a serious gap.
What to do now
- 01Compare actual and forecast turnover with the figures declared to insurers.
- 02Recalculate gross profit or revenue using the precise policy definition.
- 03Review indemnity period, seasonal peaks, increased cost of working, and dependencies.
- 04Notify the broker or insurer in writing and keep the response with the policy file.