Blog - Readhunt

Insuring Startups & Early-Stage Businesses: What You Need, What You Don’t

Startup insurance advice can feel like an all-or-nothing checklist when you’re setting up a new business – buy everything now, just in case. For a business working with limited capital, that’s not always realistic, and it isn’t actually necessary. The more useful question isn’t “what insurance exists?” but “what does my business genuinely need from day one, and what can wait until it’s actually relevant?”

What Every Early-Stage Business Actually Needs From Day One

A handful of covers matter from the moment you start trading, regardless of sector:

• Employers’ Liability is a legal requirement the moment you employ anyone – including casual staff, part-time help or certain contractors working under your direction. There’s no grace period for a new business; if you have people working for you, you need it in place.

• Public Liability covers claims if your business causes injury or property damage to a third party – a client tripping in your office, damage caused during a site visit, a customer at a pop-up stall. If you have any physical presence with the outside world, this is a day-one cover, not a “grow into it” one.

• Professional Indemnity matters from your very first piece of paid advice, design or specification work – not once you’ve built a track record. A claim can arise from work carried out in your first month just as easily as your fifth year, and cover generally can’t be backdated once a claim has emerged.

• Cyber Insurance has become an early-stage essential rather than an add-on, simply because most startups run on cloud tools, hold some customer data and take payments online from day one – often before there’s a dedicated IT function in place to manage the risk internally.

What Can Usually Wait

Just as some cover is essential immediately, other cover can genuinely be built up as the business grows:

• Extensive property and stock cover – if you’re working from home, a co-working space or a small rented unit with limited equipment, a large sums-insured property policy isn’t yet proportionate. Revisit this as you invest in premises, stock or equipment.

• Directors’ & Officers’ insurance – often more relevant once you take on external investors or non-executive directors, rather than at the earliest founder-only stage.

• Business Interruption with a long indemnity period – valuable once you have established trading income to protect, less critical before you have a consistent revenue baseline to measure against.

• Fleet insurance – only relevant once you actually own or lease vehicles; there’s no need to pay for cover ahead of the asset.

Sector-by-Sector: What “Day One” Actually Looks Like

Readhunt works with early-stage and growing businesses across construction, haulage & transport, manufacturing, logistics and civil engineering – and what’s essential on day one looks a little different in each:

Construction & Contractors – even as a brand-new subcontractor, your first contract will likely specify minimum Public Liability limits matching your main contractor’s, and modern JCT and NEC contracts carry detailed insurance obligations from the outset. Getting this wrong before you’ve won your first job can delay – or lose – the contract.

Haulage & Transport / Logistics – from your very first load, Goods in Transit cover is separate from motor fleet insurance and needs arranging alongside it, not after. A new haulage or logistics startup that assumes fleet cover extends to cargo is exposed from week one.

Manufacturing – Product Liability becomes relevant the moment you ship your first product, however small the run. Machinery Breakdown and longer Business Interruption periods tend to matter more as capital equipment investment grows.

Civil Engineering & design-led startups – Professional Indemnity is the priority from the very first design signed off, because civil engineering liability can surface years after a project completes – long after a young business might assume the risk had passed.

Professional & tech-enabled startups – for consultancies, agencies and digital businesses, Professional Indemnity and Cyber Insurance are typically the two covers that matter immediately, with property and fleet cover rarely relevant this early.

A Simple Way to Think About It

Four questions cut through most of the noise for a new business:

1. Do you have anyone working for you, even casually? → Employers’ Liability is required.

2. Do you meet clients, visit sites, or have any physical presence? → Public Liability matters.

3. Do you give advice, design something, or specify a solution? → Professional Indemnity matters.

4. Do you hold digital data or take online payments? → Cyber Insurance matters.

Everything else is a conversation to have as it becomes relevant to how the business is actually operating – not a box to tick before you’ve traded a single day.

Insurance Isn’t Just Protection – It’s Contract-Readiness

For many early-stage businesses, particularly in construction, manufacturing and logistics, insurance isn’t only about risk transfer – it’s part of winning work. Larger clients and principal contractors increasingly expect evidence of appropriate cover as a condition of appointment, and government guidance on public sector procurement has specifically encouraged buyers to make the process more accessible to smaller suppliers – provided those suppliers can demonstrate the right insurance is in place when it’s needed. Getting the essentials right early isn’t just protection; it’s part of being ready to compete.

Review As You Grow

The insurance a business needs in month one rarely matches what it needs at month eighteen. As headcount, turnover, premises and contracts change, cover should change with them – something worth revisiting at every renewal rather than assuming last year’s policy still fits. According to the British Insurance Brokers’ Association (BIBA), regular broker engagement – not just at renewal – is one of the clearest ways smaller businesses keep pace with a changing risk profile, and the Association of British Insurers (ABI) makes a similar point about the value of proportionate, regularly reviewed cover for growing SMEs.

Talk To Readhunt

At Readhunt, we work with early-stage and growing businesses across construction, haulage, manufacturing, logistics and engineering to build insurance programmes that match where the business actually is – not where a generic checklist assumes it should be.

This is a journey we know well – Readhunt has partnered early-stage businesses from that very first policy through years of growth, and we’d be glad to walk the next stage of yours with you.

If you’re setting up a new business and want a clear, no-obligation steer on what’s essential now and what can wait, get in touch on 01709 278178 or email insurance@readhunt.co.uk.

Meet the Team: Olivia Haynes – Building Expertise in the London Market

At Readhunt we believe our greatest strength is our people. Behind every successful placement is someone committed to understanding clients, building relationships and finding the right solution. In our Meet the Team series, we’re introducing the people who make that happen.

This month, we’re catching up with Olivia Haynes, Senior Account Handler.

At just 21, Olivia has already achieved something many aspire to much later in their careers – she has completed her London Market Cert CII qualifications (LM1, LM2 and LM3), bought and renovated her first home, and developed specialist expertise in one of the most technical areas of commercial insurance.

Growing up in Rochford, Essex, Olivia studied Business, Economics and English Literature at A level before discovering a career in insurance through school work experience with a local broker.

“I originally wanted to become a solicitor,” she laughs, “but once I experienced the insurance industry, I realised how varied it is and how much I enjoyed helping businesses solve complex problems.”

After leaving sixth form, Olivia joined Citynet Insurance Brokers, where she worked within the Professional Indemnity team, developing expertise across Financial Lines, including Professional Indemnity, Directors’ & Officers’ Liability and Cyber Insurance.

She joined Readhunt in June 2025 and now manages all of the team’s Financial Lines policies, supporting brokers and clients with specialist placements through the London insurance market.

For Olivia, success isn’t measured purely by policies placed – it’s about building lasting relationships.

“Success is having brokers who genuinely want to work with you because they know they’ll receive a high level of service, clear communication and a personal approach.”

That relationship-led mindset is something she believes is fundamental to both her own role and the future success of the London Market’s team.

“The London Market is built on relationships. Strong communication with brokers and underwriters is essential to achieving the best possible outcome for every client.”

Olivia describes herself as dedicated, meticulous and resourceful, while colleagues would probably choose diligent, conscientious and reliable – qualities reflected in her meticulous attention to detail and determination to secure the best result for every client.

Outside work, Olivia’s ambition continues. Having recently bought and renovated her first home, she’s already working towards her long-term goal of building a property portfolio.

When she’s not renovating or researching property, you’ll often find her reading – a passion that’s stayed with her since studying English Literature.

Looking ahead, Olivia is excited to continue supporting the growth of Readhunt and Heritage London Markets, helping brokers navigate increasingly complex risks while continuing to build the trusted relationships that underpin every successful placement.

Construction Insurance Claims : Why Project Delays Cost More Than the Damage

When most people picture construction insurance claims, they picture damage – a fire on site, a flood through unfinished works, a theft of plant or materials. But for many contractors, the physical loss is not what actually hurts the business. It’s the delay that follows.

A stalled project doesn’t just pause work. It sets off a chain reaction: contract penalties for missed deadlines, labour standing idle on the payroll, hired equipment racking up costs while it sits unused, disputes with clients over timelines, and – often the most damaging of all – the loss of the next contract because the business couldn’t move on to it. Add these together and the financial impact of a delay can easily outstrip the cost of the original damage.

The Question Contractors Should Really Be Asking

“Are we insured?” is the wrong starting point. The better question is: if something happened on site tomorrow, how quickly could we recover and get back to work?

That single question shifts the focus from the policy document to the process behind it – how a claim is handled, how fast a loss adjuster is instructed, how quickly funds are released, and how proactively a broker manages the claim rather than simply processing it. For SME contractors in particular, where cash flow and reputation are tightly linked to delivery dates, this can be the difference between a difficult few weeks and a genuinely damaging year.

Why Risk Management Matters as Much as the Policy

Robust risk management – from site security and fire prevention to contractual protections against delay-related loss – reduces the likelihood of a claim in the first place. But no risk management plan removes the possibility entirely, which is why claims support has to be considered part of the same conversation, not an afterthought once cover is in place.

According to the British Insurance Brokers’ Association (BIBA), specialist broker involvement – particularly at the point of claim – is one of the clearest ways SMEs can improve outcomes and speed of resolution, since brokers can advocate on the client’s behalf rather than leaving the business to navigate the process alone. The Association of British Insurers (ABI) similarly highlights that construction remains one of the more complex sectors for claims handling, given the number of parties, contracts, and interdependencies typically involved on a single project.

For SME contractors weighing up cover, the British Business Bank also notes that resilience planning – including adequate insurance and access to working capital during disruption – is a recurring factor in which smaller construction businesses recover fastest from unexpected setbacks.

Building Recovery Into the Plan, Not Just the Policy

The businesses that recover fastest from a construction claim are rarely the ones with the biggest policy limits. They’re the ones who went into the process with a broker who understood their contracts, their supply chain, and their appetite for risk – and who treated claims support as part of the relationship, not a separate transaction after something goes wrong.

That’s the conversation worth having before the damage happens, not after.

Readhunt works with SME contractors across the UK to build insurance programmes around how a business actually operates on site – not just what it owns.

Get in touch with our team to discuss your insurance and project risk.

Meet the Team: Mike Huntington

Building Readhunt on Relationships, Trust and Doing Right by Clients

Some businesses are built around products. Others are built around people.

For Mike Huntington, founder of Readhunt and now Consultant and Account Director, it’s always been the latter.

After nearly four decades in the insurance industry and more than 20 years building Readhunt into a respected independent brokerage, Mike still believes the fundamentals of good insurance advice haven’t changed.

People buy from people.

Building Readhunt

Mike’s insurance career began in 1986, straight from school, at East Mills Insurance – a fitting starting point, with offices directly opposite the building that would later become home to Readhunt.

Reflecting on his journey, Mike says:

“There’s a nice symmetry to my career. I started out in 1986, straight from school, at a broker whose office sat directly across the road from where Readhunt would later have its home. I had no idea then that I’d one day build my own firm on the very same street. It’s a reminder that you don’t always need to go far to build something of your own – you just need to do it properly.”

Over the following 16 years, Mike gained experience with both insurers and brokers, including Eagle Star and Ward Evans, developing a deep understanding of commercial insurance, client service and business development.

By 2002, he felt there was a better way.

“I’d spent years seeing how different brokers operated and believed I could do it better – and, more importantly, better for the client.”

That belief led to the creation of Readhunt.

Over the next 22 years, Mike built the business around long-term relationships, honest advice and exceptional client service. In October 2024, Readhunt became part of SRT & Partners, with Mike remaining as Account Director to continue supporting clients and helping shape the next chapter of the business.

“I still love what I do.”

Relationships Come First

Ask Mike what success looks like and the answer isn’t turnover or growth targets.

It’s clients who stay with Readhunt for years because they trust the advice they receive.

It’s being the first phone call when something changes.

And it’s recommendations that come naturally because clients know they’ll be looked after.

“If we continue winning good new business and looking after the clients we’ve already got, the growth takes care of itself.”

Experience That Makes a Difference

With almost 40 years in the industry, Mike’s greatest strength isn’t simply his technical knowledge.

It’s building genuine, long-lasting relationships where clients always know where they stand.

That philosophy continues to shape the culture at Readhunt today.

Looking Ahead

Mike believes the future of Readhunt will continue to be defined by the same values that built the business in the first place.

“The client is always the priority. If clients trust us, everything else follows.”

It’s a simple philosophy – but one that has stood the test of time.

Outside of work, Mike enjoys travelling and spending time with his five-year-old son, who, in his own words, “certainly keeps me on my toes.” More recently, he’s also installed a home gym and admits he’s now “trying to justify its existence!” It’s another reflection of Mike’s practical approach – whether in business or outside it, if something’s worth doing, it’s worth committing to.

AI Is Changing AI Business Risk – Is Your AI Business Risk Insurance Keeping Pace?

Artificial intelligence is no longer something businesses are planning to adopt in the future, it’s a business risk that your insurance needs to cover. Your business needs to evaluate its AI business risk now.

AI is already embedded into day-to-day operations.

Employees are using AI to prepare reports, write marketing content, analyse data, assist with customer communications and improve productivity. Increasingly, AI is also supporting operational decisions across manufacturing, construction, logistics and professional services.

For many organisations, this has happened organically – with little formal governance or consideration of how AI changes their overall risk profile.

That’s why AI has become a business risk issue rather than simply an IT issue.

The technology itself isn’t inherently risky. The challenge is ensuring that governance, contracts, cyber security and insurance evolve alongside it.

Research from the British Chambers of Commerce suggests AI adoption among UK businesses is accelerating rapidly, while governance and internal controls are struggling to keep pace.

AI creates different risks for different industries

One of the biggest misconceptions is that AI creates the same risks for every business.

In reality, the insurance implications depend entirely on how AI is being used.

Construction

Construction businesses are increasingly using AI to assist with estimating, bid preparation, project planning and document management.

While these tools improve efficiency, businesses should consider what happens if AI-generated specifications, quantities or documentation contain errors that contribute to contractual disputes or professional negligence claims.

Professional Indemnity insurance and robust review procedures become increasingly important where AI assists decision-making.

Manufacturing

Manufacturers are beginning to use AI to optimise production schedules, quality control and predictive maintenance.

While these technologies can improve efficiency, businesses should also consider product liability, machinery breakdown and business interruption risks if automated systems make incorrect recommendations or contribute to operational failures.

Accurate Business Interruption values and Machinery Breakdown cover become increasingly important as production becomes more technology-dependent.

Haulage & Logistics

The transport and logistics sector is rapidly adopting AI for route optimisation, fleet management and predictive maintenance.

As more operational systems become digitally connected, businesses should consider the cyber implications alongside traditional fleet and Goods in Transit risks.

An AI-enabled business is often a more connected business – and greater connectivity can increase cyber exposure.

Professional Services

Perhaps the biggest insurance implications exist for businesses whose advice forms part of the service they provide.

Whether producing reports, financial analysis, legal documents or consultancy recommendations, AI should support professional judgement – not replace it.

Businesses should review whether their Professional Indemnity insurance reflects how advice is now being created and delivered.

Insurance isn’t the only consideration

Insurance forms one part of effective AI risk management.

Businesses should also consider:

Do we have an AI policy?
Which platforms are approved for business use?
Can confidential client information be uploaded?
Who reviews AI-generated content?
Do supplier and customer contracts reflect our use of AI?
Are directors comfortable with the governance arrangements?

Simple governance today can help prevent much bigger issues tomorrow.

AI doesn’t replace accountability

One principle remains unchanged.

If an employee relies on AI to make a decision, produce advice or communicate with a client, responsibility still sits with the business – not the software.

Human oversight remains essential.

Is your insurance evolving with your business?

Most commercial insurance policies weren’t written with generative AI specifically in mind.

That doesn’t necessarily mean AI-related claims won’t be covered—but it does mean businesses should regularly review how emerging technologies are changing their risk profile.

At Readhunt, we work closely with businesses across construction, manufacturing, haulage, logistics and professional services to ensure their insurance programme reflects how they operate today – not how they operated five years ago. View more on our Cyber Insurance page.

As AI continues to reshape the way businesses work, reviewing your insurance alongside your wider risk management strategy has never been more important.

Why Commercial Insurance Has Become a Competitive Advantage for UK Subcontractors

For many subcontractors, commercial insurance has traditionally been viewed as a compliance exercise – something arranged because a client or contractor requires it. However, today’s commercial landscape is changing. Increasingly, insurance is becoming a key part of winning contracts, managing supply chain risk and demonstrating business resilience.

For the UK’s subcontractor community, particularly SMEs operating across construction, engineering, facilities management, manufacturing and specialist trades, the conversation has shifted from “Do we have insurance?” to “Do we have the right insurance for the contracts we’re pursuing?”

Insurance is now part of the procurement conversation

The introduction of the Procurement Act 2023 has placed greater emphasis on making public sector procurement more accessible to SMEs through increased transparency and simplified bidding processes. While this creates significant opportunities for smaller businesses, it also means organisations need to be ready to meet contractual and risk management expectations once contracts are awarded. Government guidance also makes clear that buyers should avoid creating unnecessary barriers, including requiring insurance to be in place before contract award where it is not legally required, helping reduce upfront costs for SMEs.

For subcontractors, this means being able to demonstrate that appropriate cover can be arranged quickly and that insurance programmes are aligned with contract requirements.

Beyond public liability

Many subcontractors still focus almost exclusively on Public Liability insurance. While essential, it is rarely sufficient on its own.

Depending on the trade and contractual obligations, businesses should also consider:

Employers’ Liability insurance (a legal requirement where applicable)
Professional Indemnity insurance for design, consultancy or specification work
Commercial Vehicle insurance
Contractors’ Plant and Equipment cover
Contract Works or Installation cover
Cyber insurance for businesses handling client data, digital project information or electronic payment systems
Excess Liability or Umbrella insurance for larger projects

Each contract should be reviewed individually because insurance requirements often differ significantly between clients.

Contract requirements are becoming increasingly detailed

Principal contractors and commercial clients frequently request evidence of:

Higher liability limits
Additional Insured status
Waivers of subrogation
Primary and non-contributory wording
Completed operations cover
Up-to-date Certificates of Insurance

These requirements often sit within subcontract agreements and can delay project mobilisation if businesses are unable to respond quickly.

Whilst you may have the cover, there are often exclusions or conditions that brokers do not make you aware of that would affect a claim, i.e. locations worked at or upon, heights, depths, also strict conditions have to be followed on some policies when carrying out certain activities.

Working with an experienced commercial insurance broker can help subcontractors ensure their policies match contractual obligations before tenders are submitted.

Insurance supports business growth

Insurance should not simply be viewed as protection against claims.

An effective insurance programme can:

Improve credibility during tender evaluations.
Demonstrate strong governance and risk management.
Reduce delays during contract mobilisation.
Support relationships with larger contractors.
Protect cash flow following unexpected incidents.

For growing SMEs, these benefits can be just as valuable as the financial protection a policy provides.

A changing market for SME subcontractors

The Government continues to encourage greater SME participation in public procurement through reforms designed to improve transparency and reduce unnecessary barriers to entry. The Procurement Act and accompanying guidance aim to make it easier for smaller businesses to compete while encouraging contracting authorities to create fairer procurement processes.

However, greater opportunity also brings greater scrutiny. Larger organisations increasingly expect subcontractors to demonstrate robust risk management, financial resilience and appropriate insurance arrangements before work begins.

Five questions every subcontractor should ask

Before bidding for your next project, consider:

Does our insurance reflect the contracts we’re signing, not just the work we perform?
Are our indemnity limits sufficient for larger commercial projects?
Can we meet common contractual insurance requirements without delaying mobilisation?
Have we reviewed emerging risks such as cyber exposure and professional advice?
Are we working with advisers who understand our sector and procurement requirements?

The Readhunt approach

At Readhunt, we understand that subcontractors face unique commercial pressures. Insurance is not simply about arranging policies – it’s about helping businesses secure contracts, protect profitability and manage evolving risks.

Whether you’re a specialist contractor, engineering business, manufacturer or growing SME, reviewing your insurance programme regularly can help ensure it keeps pace with your ambitions.

Useful resources:

GOV.UK Procurement Act guidance: https://www.gov.uk/government/publications/rfca-commercial-guidance/the-procurement-act-2023-guidance-for-suppliers-and-contractors
Government Commercial Agency guidance for SME suppliers: https://www.gca.gov.uk/news/how-to-successfully-subcontract-a-guide-for-smes

The right insurance programme should do more than protect your business when something goes wrong – it should help position your business to win the right opportunities in an increasingly competitive marketplace.

Why Claims Handling Is the True Test of Your Commercial Insurance Broker

When choosing commercial insurance, it’s easy to compare premiums, policy limits and renewal dates. But the true value of your insurance isn’t measured when you buy the policy – it’s measured when you need to make a claim.

Whether it’s a fire, flood, theft, cyber incident or liability claim, the way your broker supports you can have a significant impact on how quickly your business recovers.

Why commercial insurance claims are becoming more challenging

UK businesses are operating in an increasingly complex risk environment. Inflation has pushed up repair and reinstatement costs, supply chain delays continue to affect replacement times, and extreme weather events have led to rising property insurance claims across the UK. At the same time, insurers are placing greater emphasis on accurate valuations and effective risk management when assessing claims. Source: Insurance Business Magazine.

Recent changes in employment legislation, including the Worker Protection (Amendment of Equality Act 2010) Act 2023, have also increased employers’ responsibilities to proactively manage workplace risks. This reinforces the importance of having appropriate Employers’ Liability and Management Liability insurance in place, alongside specialist advice from an experienced broker.

Why your insurance broker matters during a claim

Many businesses assume their insurer manages the claims process from start to finish. In reality, your insurance broker plays a vital role in ensuring the claim progresses smoothly.

An experienced broker will:

Notify insurers promptly
Gather the necessary evidence
Liaise with insurers and loss adjusters
Keep you informed throughout the process
Help resolve issues quickly
Work to minimise disruption to your business

Having an experienced adviser managing the process allows business owners to focus on keeping their operations running while someone else deals with the complexities of the claim.

Readhunt’s approach to claims

At Readhunt, we believe claims handling is one of the most important services we provide.

Our dedicated claims team supports clients from the first notification of loss through to final settlement, ensuring every enquiry is acknowledged within 24 hours or less. We work closely with insurers, loss adjusters and third parties to secure the best possible outcome while keeping clients updated every step of the way.

Our reputation has been built on providing proactive, personal support when businesses need it most.

One long-standing manufacturing client said:

“It was particularly helpful when we were faced with the need to claim following a significant fire incident.”

Another client commented that Readhunt helped them navigate a claim, making the entire process “smooth and stress-free.”

Across all our client testimonials, the same themes emerge – responsive communication, genuine care, technical expertise and a team that takes the time to understand each client’s business before a claim ever happens.

Specialist claims expertise for specialist industries

Claims look very different depending on your sector, which is why specialist knowledge matters.

For construction businesses, claims can involve contract works, plant and machinery, professional liabilities and project delays.

For manufacturers, machinery breakdown, business interruption and property damage can have a significant financial impact if not managed quickly.

For haulage and logistics operators, vehicle damage, goods in transit claims and fleet incidents require prompt action to reduce downtime and keep businesses moving.

Because Readhunt works with businesses across these specialist sectors every day, we understand the operational pressures involved and can help clients navigate even complex claims with confidence.

Preparing for a successful claim

One of the best ways to improve the outcome of a future claim is to prepare before anything goes wrong.

Regular insurance reviews, accurate sums insured, effective risk management and policies that reflect your changing business all help ensure claims are handled efficiently and reduce the risk of underinsurance.

At Readhunt, we work with clients throughout the year – not just at renewal – to ensure their insurance programme continues to provide the right level of protection as their business evolves.

More than an insurance policy

Anyone can arrange insurance.

The real difference becomes clear when your business experiences an unexpected event.

At Readhunt, we’re committed to standing alongside our clients before, during and after a claim, providing expert guidance, proactive communication and personal support every step of the way.

If you’d like to review your commercial insurance or understand how your current broker would support you in the event of a claim, we’d be delighted to help.

Contact Readhunt today for a free, no-obligation insurance review and discover the difference specialist claims support can make.

Is Your Cargo Really Protected? Key Risks Every Haulage Business Should Understand

Goods in transit insurance is a complex. Every day, haulage businesses move goods worth thousands – sometimes millions – of pounds across the UK and beyond.

While insurance is a critical safeguard, it is only one part of a much broader risk picture.

From cargo theft to accidental damage and contractual liability, the real risks in haulage are often operational, not just financial.

Understanding those risks is the first step towards reducing them.

Cargo Risk Goes Far Beyond Theft

When people think about Goods in Transit insurance, theft is usually the first concern.

In reality, most claims arise from far more common issues:

Loading and unloading damage
Road traffic collisions
Poor load restraint
Vehicle fire or mechanical failure

These are everyday operational risks — not exceptional events.

That’s why prevention matters just as much as protection.

The Hidden Risk: Contracts and Liability

One of the most overlooked exposures in haulage is contractual liability.

Many operators unknowingly take on responsibility beyond standard insurance limits through:

Customer contracts
RHA / CMR conditions
Subcontractor agreements
Storage and handling obligations

In some cases, liability can extend far beyond the value of the goods being transported.

Without regular review, businesses can find themselves underinsured at the point of claim.

Cargo Theft Is Evolving

Cargo crime is becoming more targeted and organised.

High-risk trends include:

Trailer theft
Driver impersonation
Fraudulent collections
Fuel theft
Attacks on insecure overnight parking locations

Criminals increasingly focus on intelligence-led targeting, not opportunistic theft.

This makes operational security — parking, tracking, verification and communication — just as important as insurance cover.

Why Prevention Reduces More Than Claims

Strong haulage businesses don’t just respond to incidents — they work to prevent them.

Effective prevention strategies include:

Driver training and onboarding
Telematics and route tracking
Secure parking procedures
Load restraint checks
Dashcams and evidence capture
Delivery verification systems

These reduce both claim frequency and customer disruption.

Insurance Is Not the Starting Point

Insurance provides financial protection when things go wrong.

But it should sit at the end of a wider risk strategy — not at the beginning.

The most resilient transport operators focus on:

Understanding exposure per load
Reviewing contractual obligations regularly
Aligning insurance with real operations
Planning for downtime and disruption
Strengthening internal processes

This approach reduces both risk and cost over time.

Download the Full Guide

To help haulage businesses navigate these risks in more detail, Readhunt has produced a practical guide:

Moving Goods. Managing Risk.

It breaks down the key exposures, common gaps, and practical steps businesses can take to improve resilience.

Download your free copy here and review your risk exposure today.

In haulage, every mile carries responsibility.

The businesses that succeed long-term are those that understand risk before it becomes a claim.

Readhunt’s team are experts in haulage and transport insurance risks.

Call us on 01709 278178 or email info@readhunt.co.uk for a free haulage insurance review.

Resilience Only Matters When It’s Tested: What the UK Heatwave Reveals About Business Risk

As the UK heatwave is delivering sustained record temperatures, many businesses are being reminded that risk does not always arrive in obvious or dramatic ways.

For organisations operating in specialist sectors, extreme heat can quietly disrupt operations. Overheating machinery, increased fire risk, product spoilage, workforce wellbeing concerns, and unplanned downtime can all affect productivity and profitability.

Which highlights a simple but often overlooked truth:

Insurance is rarely top of mind—until it becomes essential.

Extreme Weather Is Becoming a Business Constant, Not an Exception

Heatwaves in the UK are becoming more frequent and more intense. The Met Office has consistently highlighted the increasing likelihood of extreme temperature events as part of long-term climate trends.

For businesses, this means operational planning and risk transfer need to evolve accordingly.

Manufacturing facilities, warehouses, engineering operations, construction sites, and logistics businesses are particularly exposed. High temperatures can cause equipment stress, increase fire risk, and reduce efficiency across critical systems.

The Real Cost of Disruption

When operations are interrupted, the impact is rarely limited to physical damage.

Businesses often experience:

Lost revenue from halted production or services
Delayed customer deliveries and contractual penalties
Increased operating costs during recovery
Supply chain disruption
Damage to customer relationships and reputation
Cashflow pressure during downtime

The UK Government’s guidance on business continuity planning highlights that many organisations underestimate the time and cost required to recover from disruption, particularly where critical equipment or premises are affected.

Why Specialist Sectors Face Specialist Risks

One of the most common challenges in commercial insurance is the assumption that “standard cover” will respond as expected in a complex loss scenario.

However, businesses evolve faster than their insurance programmes.

Plant investment increases. Revenue grows. Operations expand across multiple sites. Supply chains become more interdependent. Yet insurance arrangements are not always reviewed at the same pace.

This is especially relevant for sectors such as:

Manufacturing and engineering
Construction and infrastructure
Logistics and distribution
Property investment and development
Specialist trade and services

In these environments, the detail matters: sums insured, business interruption periods, reinstatement conditions, and machinery breakdown cover can all significantly influence recovery outcomes.

Insurance Is Only One Part of Resilience

Effective risk management is not just about transferring risk — it’s about understanding it.

The most resilient businesses typically:

Review sums insured regularly
Assess realistic downtime scenarios
Understand dependencies across suppliers and customers
Identify operational bottlenecks
Build business continuity planning into decision-making
Align insurance cover with actual trading exposure

The Health and Safety Executive also highlights the importance of managing workplace environmental risks, including heat stress, as part of broader operational safety planning.

Is Your Cover Still Fit for Purpose?

Periods of disruption often expose gaps that were not previously visible.

That is why regular review is essential — not just at renewal, but whenever a business changes, invests, expands, or shifts its operating model.

At Readhunt, we work with specialist businesses to help them understand their exposure, identify potential gaps, and design insurance programmes that support long-term resilience rather than minimum compliance.

Because when everything is running smoothly, insurance feels routine.

But when disruption arrives, it becomes one of the most important decisions a business has made.

Contact the team on 01709 278 178 for a free insurance review.

Meet the Team: Spike Dolphin, Divisional Director, Readhunt London Markets

As Readhunt London Markets continues to evolve, we’re introducing the people behind the business. First up is Spike Dolphin, Divisional Director, whose career in the Lloyd’s and wider London insurance markets spans more than a decade. We sat down with Spike to learn more about his journey into insurance, his vision for Readhunt and why relationships remain at the heart of everything he does.

Tell us about your career journey

Like many people, I never planned to end up in insurance.

With a place at university confirmed, I decided to take some work experience during the summer to get a feel for working life before making a final decision. Two months later, I was offered a job and realised I would be better suited to spending three years learning on the ground rather than obtaining a degree.

Ten years on, I can confidently say it was the right decision.

Since starting my career in 2015, I’ve developed broad experience across the Lloyd’s and London markets, working with clients and underwriters across a range of classes. Throughout that time, I’ve built my approach around strong relationships, clear communication and finding practical solutions that create long-term value for clients.

What is your vision for Readhunt London Markets?

My vision is to build a brokerage that clients turn to regardless of market conditions.

Insurance markets will always move through hard and soft cycles, but those factors are outside any broker’s control. What truly differentiates a business is its service, expertise and relationships.

Our success comes from delivering an unrivalled level of service and maintaining strong, trusted relationships with both clients and insurer partners. By understanding our clients’ needs, providing honest advice and leveraging the right market connections, Readhunt can consistently deliver the solutions clients require whatever the market environment.

The goal is simple: to be the first call our clients make because they know they will receive exceptional service, expert guidance and a team that will always go the extra mile on their behalf.

How has the market changed since you began your career?

Over the last decade, the market has continued to evolve through increased digitalisation and more efficient ways of trading business. However, one thing hasn’t changed: insurance remains a people business.

Relationships with brokers, underwriters and clients are still fundamental, and the real differentiator is having the right team around you. The best outcomes are rarely achieved by one individual alone; they come from talented people working together, combining expertise, trust and a shared commitment to finding solutions.

That’s what will continue to drive success in the years ahead.

What qualities are most important in this industry?

For me, it comes down to three things: trust, expertise and service.

Clients need confidence that you understand their challenges and have access to the right solutions. Equally important is building lasting relationships with insurer partners and maintaining a collaborative approach.

Ultimately, this industry is built on people, and reputation is everything.

What do you enjoy outside work?

Outside the office, you’ll usually find me on a golf course or a padel court.

While both provide a welcome break from the day-to-day, I’ve always found they offer something more valuable too – an opportunity to build and strengthen relationships away from the trading floor. In an industry built on trust, some of the best conversations happen outside the office and those connections are often just as important as the deals themselves.

Looking ahead

I’m excited about what lies ahead for Readhunt London Markets.

As we continue to grow, our focus will remain the same: building the right team, strengthening relationships and delivering the service and expertise that clients value most. Markets will continue to change, but by staying close to our clients and working collaboratively with our partners, we’ll continue to create solutions that stand the test of time.

For more information about Readhunt London Markets, contact spike.dolphin@readhunt.co.uk.

2026 HSE Changes: Understanding The New Rules And The Impact On Your Insurance

The UK’s Health and Safety Executive (HSE) is increasing its focus on workplace health, occupational disease prevention and reporting standards, with several significant developments emerging during 2026.

Whilst many businesses associate health and safety with accident prevention, the regulator’s priorities are increasingly shifting towards long-term health risks, governance and organisational accountability.

For SMEs, particularly those operating in construction, manufacturing, engineering, logistics and property services, these changes have implications that extend beyond compliance and into insurance, risk management and business resilience.

The Biggest Development: Proposed Changes To RIDDOR

The HSE has launched proposals to modernise the Reporting of Injuries, Diseases and Dangerous Occurrences Regulations (RIDDOR).

The proposals include:

Expanding the list of reportable occupational diseases
Broadening the range of healthcare professionals whose diagnoses could trigger reporting obligations
Updating dangerous occurrence reporting requirements to better reflect modern workplaces

If implemented, businesses may need to review existing incident reporting procedures, occupational health arrangements and record-keeping practices.

Occupational Health Under The Spotlight

Historically, workplace injuries have received the greatest attention from employers. However, occupational illness is becoming a key focus for both regulators and insurers.

Areas attracting increased scrutiny include:

Respiratory disease
Silica dust exposure
Occupational cancers
Noise-induced hearing loss
Long-term workplace health conditions

These risks often result in higher-value claims and can create significant long-term liabilities for businesses.

Increased Enforcement Activity

The HSE has signalled increased enforcement activity across sectors where workplace health risks are prevalent.

This includes greater focus on:

Dust and airborne contaminants
Health surveillance programmes
Contractor management
Risk assessment quality
Senior management oversight

Businesses unable to demonstrate effective controls may face enforcement action, reputational damage and increased insurance scrutiny.

What Does This Mean For Insurance?

Many insurers are increasingly using risk management and governance standards as part of their underwriting assessment.

Businesses that can demonstrate

Effective reporting processes
Strong health and safety culture
Clear management oversight
Robust occupational health controls

are often viewed more favourably during renewal discussions.

Conversely, poor reporting standards, enforcement notices or weak governance can affect insurer appetite and pricing.

Sector-Specific Considerations

Construction & Engineering : Construction businesses should review controls around silica exposure, contractor management, working at height and incident reporting.

Manufacturing: Manufacturers should focus on occupational health monitoring, machinery safety, noise exposure and employee wellbeing programmes.

Logistics & Distribution: Warehouse operations, fleet risk management, manual handling and workforce safety remain key priorities.

Property & Facilities Management: Businesses operating in multi-contractor environments should ensure robust contractor oversight and compliance processes.

How Businesses Can Prepare

Now is an ideal time for organisations to review:

Incident and near-miss reporting procedures
Health and safety governance structures
Occupational health monitoring programmes
Contractor management controls
Risk assessment and documentation standards

By acting early, businesses can improve compliance, strengthen their risk profile and create more positive outcomes during insurance renewals.

Supporting Businesses Through Change – Practical Steps SMEs Should Take Now

At Readhunt, we believe effective insurance advice goes beyond policy placement. To prepare for evolving HSE requirements and demonstrate a proactive approach to risk management, SMEs should consider:

Reviewing incident, accident and near-miss reporting procedures to ensure they remain robust and compliant.
Assessing occupational health risks across the business, particularly those associated with dust, noise, repetitive tasks and long-term health conditions.
Updating risk assessments and ensuring they accurately reflect current workplace activities and emerging regulatory expectations.
Strengthening contractor management processes, including due diligence, supervision and record keeping.
Establishing clear health and safety accountability at senior management level and regularly reviewing governance arrangements.
Improving documentation and audit trails to support compliance and demonstrate effective risk controls.
Engaging employees in health and safety initiatives to encourage reporting, awareness and a positive safety culture.
Identifying and addressing any compliance gaps before they become regulatory, operational or insurance concerns.

Taking these steps now can help businesses reduce regulatory exposure, improve workplace safety and present a stronger risk profile to insurers, clients and other stakeholders.

By helping businesses understand emerging regulatory requirements and strengthening their approach to risk management, we support clients in protecting their people, improving resilience and demonstrating their value to insurers.

If you’d like to discuss how these developments could affect your business, our team would be happy to help. Contact us on info@readhunt.co.uk.

Are you looking for a role where you’re closer to clients and the market? Join us as an Account Handler

About Readhunt

Readhunt Corporate Insurance is an independent and service-driven corporate insurance broker, specialising in insurance solutions for sectors such as construction, haulage, manufacturing, and logistics. With over 20 years of experience. Trust, sector expertise, and a people-first approach define Readhunt’s commitment to protecting businesses and supporting their growth.

To support our continued growth, we need another Account Handler to join our London Markets team in our London office.

The role

Managing renewals, mid-term adjustments and new business enquiries
Handling inbound and outbound calls with brokers and insurers
Supporting Account Directors with placement and client servicing
Building and maintaining strong, long-term client relationships
Ensuring accurate documentation and compliance standards
Supporting with claims queries (basic claims knowledge beneficial)

About you

4+ years of insurance experience
Experience within commercial insurance (broker background preferred)
Confident communicator with a client-focused approach
Strong organisational skills and attention to detail
Proactive and service-driven mindset
Acturis experience essential
Cert CII (or working towards) beneficial
Basic claims knowledge beneficial

Why Readhunt

Independent, relationship-led broker
Exposure to a range of commercial clients and risks
Collaborative, growing team
Opportunity to develop and progress within the business

Salary

£40,000 – £45,000 (salary dependant on experience)

If you’re looking to be part of a business where relationships and quality of advice matter, get in touch.

Email Spike Dolphin directly to find out more and apply: spike.dolphin@readhunt.co.uk

Account Executive – Commercial Insurance

Join our growing team at Readhunt as an Account Executive responsible for generating new business opportunities.

This role is based between our offices at The Historic Dockyard, Chatham, Kent and Lloyd’s of London. It’s a full time, office based role.

Overview

Readhunt is an independent commercial insurance broker providing tailored insurance solutions to businesses across the UK, with specialist expertise across sectors including construction, logistics, manufacturing, property and transport.

We are looking for a professional and motivated Account Executive to join the team at our London and Kent offices. This role will support business development activity, client relationship management and new business growth across the commercial insurance division.

The successful candidate must have previous insurance experience, strong communication skills and hold the Cert CII qualification.

Key Responsibilities

• Support generation and development of new business opportunities
• Build and maintain relationships with clients, introducers and insurer partners
• Assist with client meetings, prospecting and follow-up activity
• Identify insurance requirements and support delivery of tailored solutions
• Work closely with Account Handlers and Directors across new business opportunities
• Support preparation of client documentation, presentations and market submissions
• Maintain accurate CRM and pipeline records
• Support LinkedIn and networking activity to help grow visibility and relationships
• Deliver professional and responsive service throughout the client journey

Skills & Experience

• Previous commercial insurance experience essential
• Cert CII qualification required
• Strong communication and relationship-building skills
• Organised, proactive and commercially minded
• Professional telephone and client-facing manner

• Strong IT and computer skills, including Microsoft Office, CRM systems and general digital administration

• Confident using LinkedIn professionally for networking, relationship building and business visibility and supporting company LinkedIn activity, maintaining professional online presence
• Ability to work effectively within a busy office environment
• Experience using Acturis beneficial but not essential

Package & Benefits

• Competitive basic salary and uncapped commission
• Private medical cover
• Full-time office-based role between The Historic Dockyard, Chatham & Lloyd’s of London
• Career development within a growing independent brokerage
• Supportive and collaborative team environment

If you have insurance experience, are ambitious, commercially minded and looking to build your career within a growing independent insurance business, get in touch.

Apply here or please send your CV and a short introduction to Tom Castle comms@srtpartners.co.uk

Civil Engineering Insurance: Why Your Cover Needs to Match the Complexity of Your Work

Civil engineering insurance is complex – it is often the liability tail most businesses in the construction sector underestimate.

A design error may not surface for years. A drainage failure that causes flooding three years after handover. Ground settlement that emerges during a subsequent development. By the time the claim arrives, the site is closed and the team has moved on. Generic construction cover – designed for shorter-duration build risk – often isn’t built for this.

Professional indemnity: the cover that protects your expertise

PI insurance protects against claims arising from design errors, specification mistakes, miscalculations, and negligent project oversight. For civil engineers it’s the most critical cover – and the most commonly undervalued.

Policy limits typically range from £1 million to £10 million depending on contract values and tender requirements. Crucially, PI needs to be maintained for six to twelve years after project completion to cover the full window of liability exposure. Carrying insufficient limits can also disqualify you from tendering on major infrastructure contracts.

Contractors’ all risks and plant cover

Contract works insurance protects work in progress against fire, flood, theft, and accidental damage. The sum insured must reflect the full replacement value of works and materials at any point during the programme – not a figure set at the start and never revisited.

Hired-in plant deserves specific attention. If equipment you’ve hired is damaged or stolen, you’re typically liable for the cost regardless of fault. With plant and machinery theft estimated to cost the construction sector £70 million annually, this isn’t a peripheral risk.

Environmental liability

Earthworks and excavation near watercourses, brownfield sites, or sensitive land create real environmental exposure. A fuel spill during construction can require costly remediation and trigger significant regulatory fines. Environmental liability insurance is increasingly considered standard for civil engineering operations – not an optional add-on.

London market access for complex risks

Some civil engineering risks can’t be placed adequately in the standard market. Readhunt has direct Lloyd’s broker registration, giving us access to specialist syndicates with the appetite and expertise to properly underwrite complex or high-value civil engineering risks. For firms working on major infrastructure programmes, that access makes a genuine difference.

To talk through your insurance programme with a specialist team, call 01709 278178 or email us insurance@readhunt.co.uk

The Manufacturing Insurance Gap That Can Stop Production Overnight

The assumption that catches manufacturers out with their manufacturing insurance

Ask most manufacturing business owners if their premises and equipment are insured, and they’ll say yes. What fewer realise is that their standard commercial property policy likely does not cover the risk that poses the greatest operational threat to their business – machinery breaking down.

It’s a common and costly misconception. Standard property insurance covers external events: fire, flood, storm, theft. It does not cover internal mechanical failure, electrical faults, or operator error. For a business whose entire output depends on production equipment running reliably, that’s a significant gap.

What machinery breakdown insurance actually covers

Machinery breakdown insurance – sometimes arranged as engineering breakdown cover – is designed for sudden and unforeseen failure of plant and equipment. That includes mechanical and electrical faults, motor and drive failures, control panel damage, and in many cases operator error.

Critically, the repair cost is only part of the picture. Cover for the repair of the machine is only half the solution – the associated business interruption cover is often the more important element, kicking in to cover the financial loss resulting from downtime, including increased costs of working such as outsourcing, hiring replacement machinery, or paying overtime to clear backlogs once repairs are complete.

For manufacturers operating to tight delivery schedules, this matters enormously. A critical machine down for two or three weeks doesn’t just cost the repair – it costs missed delivery slots, potential customer penalties, emergency outsourcing, and in some cases permanent damage to client relationships.

The indemnity period problem

One of the most common mistakes we see when reviewing manufacturing insurance programmes is an indemnity period that’s too short. The indemnity period is the length of time the insurer will pay for business interruption following a covered event. Many manufacturers set it at 12 months without considering how long a genuine worst-case scenario would take to fully recover from.

For businesses that depend on specialist machinery with long lead times for parts or replacement – which describes a significant proportion of UK manufacturers – an indemnity period of 18 or 24 months is often more appropriate. Setting it too short means cover runs out before the business has fully recovered, leaving the gap to be absorbed internally.

Product liability: the long tail most manufacturers underestimate

Beyond machinery and property, product liability is the other area where manufacturing businesses frequently carry more risk than they realise.

If a product you manufacture causes injury, property damage, or financial loss to a third party – whether a direct customer or an end user further down the supply chain – you can be held liable. Product liability claims can arise years after the product left your facility, involve multiple parties, and generate legal costs well before any compensation is determined. The financial exposure can be substantial, particularly for manufacturers supplying safety-related products, food and drink, industrial equipment, or components used in high-risk applications.

It’s also worth checking that your product liability limits are appropriate for the contracts you’re working under. Larger clients increasingly specify minimum liability limits as a condition of supply – being underinsured here can affect your ability to retain or win business.

A complete manufacturing insurance programme

A well-structured programme for a UK manufacturer should typically include public liability, employers’ liability, product liability, material damage to premises and stock, machinery breakdown, business interruption with an appropriate indemnity period, and goods in transit for finished product and raw materials. Depending on the nature of the operation, additional covers – cyber liability, management liability, engineering inspection – may also be relevant.

At Readhunt, we take the time to understand how a manufacturing business actually operates before recommending cover – the production processes, the critical assets, the contractual obligations, the supply chain. Generic policies rarely fit manufacturing well. Tailored ones do.

If you’d like an honest review of your current manufacturing insurance programme, call us on 01709 278178 or visit readhunt.co.uk

Haulage Insurance: Why Fleet Cover Alone Isn’t Enough

The assumption that catches hauliers out

All haulage businesses carry insurance. What few realise is that their cover may not respond to some of their most significant exposures.

The most common misunderstanding is simple but costly: fleet insurance and goods in transit insurance are entirely separate products. One does not cover the gap left by the other.

Fleet insurance vs goods in transit

Motor fleet insurance covers your vehicles – damage, theft, and third-party liability as a road user. It does not cover the cargo inside them.

Goods in transit insurance covers your liability as a carrier. The moment you accept a load, you take on legal responsibility for it. If goods are lost, damaged, or stolen during transit, your client can hold you liable – and standard fleet cover will not respond to that claim.

Your goods in transit policy also needs to reflect the actual value of loads you carry. A default limit that bears no relation to your typical consignments is a risk in itself.

What else a haulage business needs

A complete haulage insurance programme should also cover:

Employers’ liability – a legal requirement if you employ drivers or staff
Public liability – for incidents at your depot, during loading, or away from the road
Premises and contents – vehicles, equipment, and depot contents overnight
Cyber insurance – increasingly essential if you run telematics or digital logistics platforms

Getting it right matters

Haulage insurance is a specialist area. The conditions under which goods are carried – RHA or CMR – affect how liability is allocated and how a policy must be structured. A policy that technically exists but doesn’t respond when needed offers no real protection.

At Readhunt, we’ve worked with haulage businesses for over 20 years. We review the full picture: vehicles, cargo, operations, premises, and people – not just the fleet.

If you’d like an honest review of your current cover, call us on 01709 278178 or email us insurance@readhunt.co.uk

Subcontractors and Developers: Does Your Insurance Actually Meet Your Contract Requirements?

Having developer and subcontractor insurance and meeting your obligations aren’t the same thing.

Ask most subcontractors and developers whether they have insurance and the answer is yes. Ask whether it meets the specific requirements of the contracts they’re working under and it gets less certain.

JCT and NEC contracts contain detailed insurance clauses – minimum liability limits, required policy types, obligations that flow down the supply chain. Not knowing what those requirements are, or carrying cover that falls short, creates exposure that sits quietly until a claim forces it into the open.

What subcontractors need to know:

Public liability limits must match your main contractor’s. If you hold £1 million and your main contractor holds £5 million, and your work causes damage beyond your limit, they will pursue recovery from you for the shortfall. Check the minimum limits specified in your contracts and make sure your cover meets them.

Employers’ liability applies more broadly than many realise. Labour-only subcontractors – those working under your direction, using your materials – are treated as your employees for insurance purposes. If they’re injured on site, the claim falls to your EL policy. Failing to declare them correctly can result in a claim being reduced or declined.

Professional indemnity is increasingly a condition of appointment. Any design element in your scope of work creates PI exposure – design-and-build packages, M&E specification, earthworks design. Many contracts now require PI cover before you start on site. Without it you may be in breach before a tool has been lifted.

What developers need to know:

Contract works cover needs to reflect current build costs. This is the most common gap we find with developer clients. Material costs have risen significantly – a sum insured set two years ago may leave you substantially exposed following a fire, flood, or major site incident.

Latent defects insurance is required by most funders and mortgage lenders. It provides protection against structural issues emerging after practical completion – typically for ten to twelve years – and unlike PI, doesn’t require proof of negligence to respond. Without it, a completed development can be unmortgageable or unsaleable.

Directors’ and officers’ insurance is no longer optional. Under increasing scrutiny from the Building Safety Act and growing regulatory accountability in the built environment, D&O cover protects the individuals behind the business – not just the business itself.

The JCT 2024 transition:

Worth noting for 2026: the JCT 2016 suite was formally withdrawn from sale on 31 March 2026. All new procurement activity now falls under JCT 2024, which contains updated insurance and risk allocation provisions. If you’re moving onto new projects this year, now is the right time to check your programme is aligned to the new contract forms.

We take the time to understand what you actually need:

At Readhunt, we don’t hand over a policy and move on. We work with subcontractors and developers to understand the contracts they operate under and the obligations those contracts carry – then build an insurance programme that genuinely meets them.

It’s a conversation worth having before a claim makes it necessary.

Call 01709 278178 or email us insurance@readhunt.co.uk

5 Most Common Insurance Claims Facing UK SMEs

When businesses think about risk, they often picture rare, dramatic events. In reality, the insurance claims that hit UK small and medium-sized enterprises hardest are far more ordinary – and far more frequent. Understanding where claims most commonly arise is the first step to making sure your cover is working as hard as your business does.

The 5 Most Common Insurance Claims for UK SMEs

1. Motor Claims

Vehicle-related incidents are among the most frequent insurance claims for businesses that rely on a fleet or company vehicles. This covers everything from minor collisions and third-party damage through to vehicle theft. Whether you run a single van or a multi-vehicle fleet, adequate motor cover protects your mobility and your bottom line.

2. Property Damage

Fires, floods, burst pipes, and accidental damage to premises or equipment can strike any business at any time. Property damage claims can be significant – not just in repair costs, but in lost productivity while operations are disrupted. Ensuring your buildings and contents are accurately valued is critical to a swift recovery.

3. Liability Claims

Liability claims span a wide range: public liability (injuries to customers or third parties), product liability (harm caused by goods you supply), professional indemnity (errors in advice or services), and employers’ liability (workplace injuries to staff). Any of these can lead to costly legal proceedings without the right protection in place.

4. Cyber Incidents

Cyber threats are a growing reality for UK SMEs. Data breaches, ransomware attacks, and phishing scams can cripple operations, damage customer trust, and trigger regulatory penalties. Cyber insurance has moved from a niche product to an essential layer of protection for businesses of all sizes.

5. Business Interruption

When operations grind to a halt – due to a covered loss, a supplier failure, or an unexpected disruption – the financial consequences can mount quickly. Business interruption insurance replaces lost income during downtime, giving you the breathing room to recover without draining your reserves.

Why the Right Cover Changes Everything

Having insurance is one thing – having insurance that actually fits your business is another.

When your cover is tailored to your specific operations, sector, and risk profile, claims become manageable rather than catastrophic. The right policy means:

No coverage gaps that slow down or complicate your claim
Faster recovery because your insurer understands your business
Less stress when incidents occur, so you can focus on getting back to work

How Readhunt Helps UK SMEs Stay Protected

At Readhunt, we combine sector-specific expertise with efficient claims management. From construction and logistics to manufacturing and engineering, we guide SMEs through every step of the process – making claims smoother, faster, and less disruptive.

We don’t believe in one-size-fits-all policies. We take the time to understand your operations, your sector risks, and your exposures, so you’re never over-insured, under-insured, or caught out.

Tailored solutions. Appropriate insurance. Expert claims support. That’s how SMEs stay resilient.

If you need to review your coverage, contact us on 01709 278178 or email us info@readhunt.co.uk

Readhunt Celebrates Achieving Lloyd’s Broker Registration

At Readhunt, our priority is always to provide insurance solutions that truly fit your business. That’s why we’re excited to share that we have secured Lloyd’s Broker registration. This positions Readhunt among a unique group of UK brokers with direct access to one of the world’s leading insurance and reinsurance markets. It supports the company’s commitment to securing tailored, streamlined and cost effective solutions for each client via specialist insurers, markets and underwriters.

What Our Lloyd’s Broker Registration Means for Your Business

Access to specialist insurance solutions not always available in the standard market
More flexibility in policy terms, limits, and wordings
Stronger support for complex, growing, or hard-to-place risks
Greater negotiating power at renewal
Bespoke solutions that evolve as your business grows

Most importantly, nothing becomes more complicated for you – but more options become available. Our role remains the same: to make sure your cover fits your business, now and in the future.

Sector-Specific Benefits

Construction & Property

Construction, property development, and infrastructure projects often require higher limits, contractual liability coverage, or cover for unique exposures. With Lloyd’s market access, we can provide:

Bespoke programmes for complex or high-risk projects
Flexible cover for fire, cladding, or multi-site developments
Tailored contractual liability and indemnity solutions

Haulage & Logistics

Transporting goods across the UK and internationally comes with unique challenges from temperature-controlled loads to hazardous materials. Benefits include:

Specialist underwriting for complex goods-in-transit and haulage risks
Flexible structures for premium control
Coverage options when claims history or risk profile limits standard markets

Manufacturing & Engineering

Manufacturers and engineers face operational, product, and machinery risks that often go beyond standard policies. With Lloyd’s access, we can offer:

Broader machinery breakdown and business interruption cover
Enhanced product liability protection
Tailored solutions for export and international operations

Technology, Cyber & Professional Services

Fast-moving sectors like technology and professional services need cover that evolves with them. We can now provide:

Specialist cyber and professional indemnity solutions
Flexible terms and limits for emerging risks
Even stronger incident response and claims support

What does this deliver in practice?

Lloyd’s market access and our Lloyd’s Broker status doesn’t make insurance more complicated for our clients – it simply gives Readhunt more tools to protect your business. From complex construction projects to fast-growing tech firms, or international exporters, we can now provide solutions that are better tailored, more flexible, and more robust, whatever your risk profile.

At Readhunt, we continue to make insurance straightforward, reliable, and effective – with the reassurance of Lloyd’s market expertise whenever it’s needed.

How UK SMEs Can Protect Against Supply Chain Disruptions in 2026

Supply chain disruptions are no longer a “nice-to-think-about” risk – for UK SMEs and larger businesses, they can directly impact revenue, project deadlines, and client relationships. From supplier delays to cyber risks, even small problems can escalate quickly.

For businesses in construction, manufacturing, logistics, and engineering particularly, having the right protection in place is essential.

Why Supply Chain Disruptions Matter for SMEs

UK businesses face several common supply chain challenges:

Supplier Issues: Relying on a few key suppliers creates vulnerability. If one fails, the ripple effect can hit your business hard.
Delivery Delays: Logistics problems, customs delays, and transport disruptions can affect project timelines.
Cyber Threats: A supplier or partner experiencing a cyber breach can impact your operations or client data.
Regulatory Pressures: New procurement, traceability, and compliance rules add extra complexity.

Even with careful planning, businesses often underestimate the financial and operational impact of these risks.

Practical Steps to Reduce Supply Chain Disruption

1. Map Your Entire Supply Chain
Know who your suppliers are – including second and third tiers. Visibility is the first step to managing risk effectively.

2. Diversify Your Suppliers
Work with multiple suppliers or regional partners to reduce dependency on a single source.

3. Monitor Supplier Performance
Track delivery times, quality, and compliance. Early detection of issues helps prevent larger disruptions.

4. Protect Your Business with Insurance
No plan is complete without insurance. At Readhunt we offer tailored solutions to cover the financial impact of supply chain disruption:

Business Interruption Insurance: Covers lost income if suppliers or deliveries fail.
Contingent Supplier Cover: Protects against problems caused by key suppliers.
Cyber Insurance: Guards against data breaches in your business or partners.
Sector-Specific Solutions: Tailored cover for construction, logistics, manufacturing, and engineering.

How Readhunt Can Help

We specialise in risk management and insurance solutions for SMEs and large businesses. We combine deep sector knowledge with practical insurance expertise to protect your business from the unexpected.

By working with us, you can:

Identify supply chain vulnerabilities.
Select insurance that fits your business needs.
Minimise financial and operational impact from disruptions.

Take Action Today

Supply chain disruption is real – and it’s happening now. Planning, monitoring, and the right insurance coverage give your business the confidence to operate without unnecessary interruptions.

Contact us for a specialist review of your supply chain risks and insurance solutions: info@readhunt.co.uk or call us on 01709 278178

Meet the Team: Laura Barker – Growing with Readhunt

Laura Barker’s career at Readhunt is a true example of progression, consistency, and commitment. Born and raised in Barnsley, Laura joined Readhunt straight from school in September 2014 at just 16 years old – and nearly 12 years later, she’s now our Trading Manager.

Starting as an office junior apprentice, Laura supported the team with day-to-day admin, post, and general office duties. From those early foundations, she steadily built her career within the business, progressing into an Account Handler role and now leading the trading function while continuing to manage her own client renewals and new business.

“Starting at the very bottom and working my way up has taken a lot of determination, effort, and consistency.”

Building knowledge and experience

Laura has developed her career entirely within insurance, gaining hands-on experience alongside professional qualifications. She achieved her Cert CII qualification in early 2020, alongside Level 2 qualifications in Business Administration and Customer Service, building the technical and customer-focused skillset she brings to her role today.

With particular expertise in Commercial Motor Insurance, Laura plays a key role in managing major group commercial clients, overseeing renewals, supporting new business, and maintaining strong relationships with both clients and insurers. In late 2024, she also took on responsibility for company accounts, further broadening her role within the business.

Leading by example

As Trading Manager, Laura is responsible for managing the team, allocating workloads, and supporting colleagues – all while remaining closely involved in the work herself. Known for her approachable nature and highly organised working style, she believes effective leadership comes from understanding every role within the team.

“I always make sure I can still do the tasks I now delegate – it helps me lead more effectively and appreciate the effort behind every job.”

Laura describes herself as competitive, reliable, and hard-working, while colleagues often describe her as knowledgeable, kind, and organised. Her ability to adapt has been key throughout nearly 12 years of changes within the office, the team, and the wider insurance industry.

A standout moment in Laura’s journey was winning the Secret Weapon Award, recognising her contribution to the business and boosting her confidence as she stepped into her Trading Manager role.

What success means to Laura

For Laura, success is simple – enjoying what you do.

“I genuinely enjoy coming to work and the challenges I face every day. That enjoyment drives my performance and progression.”

Her vision is to continue growing, adding value to Readhunt, and pushing herself toward new challenges. Laura doesn’t believe in standing still – once one goal is achieved, she’s already focused on the next.

Life outside the office

Outside of work, Laura enjoys hiking with her partner, family, and friends, having already completed Snowdon and Scafell Pike, with Ben Nevis next on the list. She’s also a Sheffield Steelers season ticket holder, enjoys socialising over food and drinks, and is currently renovating her first home. Recently, she’s returned to running – hoping to rediscover the fitness levels she had competing in cross-country as a teenager.

Looking ahead

Looking to the future, Laura believes Readhunt’s continued success lies in strong teamwork, continuous learning, and outstanding customer relationships. Her values closely align with those of her colleagues: providing exceptional service, building genuine long-term relationships, and always being there when clients need support.

Laura’s journey is a clear example of how dedication, consistency, and passion can shape a successful career – and we’re proud to have her as such an integral part of the Readhunt team.

Case Study: Cutting Insurance Costs in the Waste & Recycling Sector

Sector: Waste & Recycling
Turnover: £50m+
Profile: Large, independent operator

The waste and recycling sector remains one of the most challenging classes of business for insurers. Market appetite is limited, claims frequency is closely scrutinised, and premium pressure has become the norm – regardless of individual risk quality.

This was the position facing one of our clients: a large, well-run waste and recycling business with strong operational controls, yet premiums had increased year-on-year for over five years. The issue wasn’t performance – it was sector perception.

The Challenge

Despite maintaining good risk standards, the client was experiencing:

Sustained premium increases driven by market sentiment
Limited insurer appetite within the sector
Rising scrutiny of third-party motor claims
Little recognition of their actual risk quality

They needed more than a renewal-only negotiation – they needed a proactive, year-round strategy.

Our Approach

At Readhunt, we believe effective insurance outcomes are built between renewals, not just at them. We worked closely with the client throughout the policy year, focusing on two key areas: claims control and risk representation.

Active Claims Management

We implemented tighter control of all claims, with particular emphasis on third-party motor incidents – a critical loss driver in the sector.

This included:

Early intervention on claims
Regular insurer reviews
Active challenge of reserves where appropriate
Ongoing monitoring to prevent escalation

By managing claims proactively, rather than reactively, we were able to demonstrate genuine improvement in loss performance.

Proactive Risk Management & Insurer Engagement

Alongside claims control, we focused on ensuring the business was accurately and fairly represented to insurers.

We:

Arranged and attended all insurer risk surveys
Worked directly with insurers and surveyors to ensure site risks were properly understood
Supported the client in managing and evidencing post-survey actions
Demonstrated continuous improvement, not one-off fixes

This hands-on involvement helped build insurer confidence and credibility throughout the year.

The Result

Just over 19% reduction in annual premium costs
Improved insurer confidence in the risk
Premium levels stabilised in a restrictive market
No compromise on cover quality

By actively managing claims and engaging insurers throughout the policy year – not just at renewal – we repositioned the business as a well-controlled, high-quality risk, delivering meaningful and sustainable savings.

Why This Matters

In challenging sectors like waste and recycling, insurance outcomes are rarely improved through last-minute negotiations alone.

They are achieved through:

Year-round engagement
Clear risk representation
Proactive claims management
Strong insurer relationships

At Readhunt, this is how we help clients move beyond market pressure – and take back control.

Flood Risk in the UK: Is Your Business Properly Protected?

Flood risk in the UK is on the rise. Recent weather patterns have once again highlighted the escalating consequences of flooding to businesses across the country. From prolonged heavy rainfall to sudden surface water flooding, extreme and persistent weather events are becoming more frequent – and more severe.

For many UK businesses, flooding is not just a property issue. It can mean:

Business interruption
Loss of stock and equipment
Damage to premises
Inability to trade for weeks or months
Long-term reputational and financial impact

Even businesses not located directly next to rivers or coastlines can be affected. Surface water flooding and overwhelmed drainage systems now present a growing risk in urban and suburban areas.

The Rising Flood Challenge for UK Businesses

Climate trends suggest that intense rainfall events are becoming more common. Areas previously considered “low risk” are now experiencing unexpected flooding.

For business owners, this creates three key concerns:

Availability of cover – Some insurers may restrict or exclude flood protection in higher-risk postcodes.
Increased premiums and excesses – Particularly in repeat-claim areas.
Policy gaps – Flood may be included, but business interruption limits may not reflect realistic recovery times.

Flood risk isn’t just about whether your building floods – it’s about whether your policy is structured correctly if it does.

How Readhunt Supports Businesses in Flood-Prone Areas

As an independent corporate insurance broker, Readhunt works closely with businesses operating in or near flood-risk locations.

We can help by:

● Reviewing existing policies to identify flood exclusions or limitations
● Ensuring adequate business interruption indemnity periods
● Accessing specialist markets where standard insurers may decline
● Advising on risk management improvements to support underwriting
● Structuring cover that protects stock, plant, machinery and equipment

Our London Market access allows us to explore solutions beyond standard offerings, particularly where flood exposure is a concern.

Beyond Insurance: Risk Management Matters

Insurers increasingly look for proactive risk management. Simple measures can strengthen your position:

Updated flood risk assessments
Physical flood barriers or airbrick covers
Clear business continuity planning
Off-site data backups
Relocation contingencies

The stronger your risk presentation, the more options we can explore on your behalf.

Is Your Business Prepared?

If your premises are located:

Near rivers, canals or coastal areas
In low-lying or urban drainage zones
Within industrial estates with shared infrastructure
In areas that have experienced flooding in recent years

It may be time for a proactive review.

Flood recovery can take months – but the right insurance structure can make the difference between disruption and survival.

If you would like a confidential review of your flood exposure and current insurance programme, our team are happy to help. Call us on 01709 278178 or email info@readhunt.co.uk.

Cyber Insurance Checklist 2026

Download

In 2025, 43% of UK businesses reported experiencing a cyber security breach or attack according to UK government research. That’s roughly 612,000 businesses. Make sure you’re protected by using our cyber insurance checklist here to see if you need cyber insurance coverage or a review of your existing insurance.

Why Cyber Risk Affects Every Business

Tick all that apply to your business:

☐ You use email for business communication

☐ You store customer, employee or supplier data

☐ You use accounting, payroll, CRM or cloud systems

☐ You accept card or online payments

☐ You rely on IT systems to operate day‑to‑day

☐ You use Microsoft 365, Google Workspace or similar platforms

☐ You have remote or hybrid staff

☐ You work with third‑party IT providers

☐ You have a website or online presence

☐ You could not afford several days of system downtime

☐ You would struggle to recover from a ransomware demand

☐ You are responsible for protecting personal or confidential data

If you have ticked any of the above, your business is exposed to cyber risk.

Cyber crime now affects every business, with SMEs the primary target in 2026. Even a single email account, laptop, cloud login or staff member can be enough to expose a business to attack – no online shop, large customer base or database required.

Top 5 Cyber Risks for UK Businesses

Ransomware attacks locking systems and data
Phishing and impersonation emails, including increasingly convincing AI-driven attacks
Data breaches involving customer or employee information
Cloud system hacks, malware and spyware infections
Supplier and third-party system breaches

Real Consequences Businesses Without Cyber Insurance Can Face:

£10,000–£250,000+ recovery costs
Ransom payments
PR and reputation damage
Closure in severe cases
Business interruption and lost revenue due to loss of customer trust, contract cancellations, potential legal fees and regulartory fines

Many businesses never fully recover from a serious cyber incident without cyber Insurance.

What Cyber Insurance Typically Covers

A comprehensive cyber policy can be tailored to your business with cover from as little as £100.

Why Prevention Alone Is Not Enough

Firewalls, antivirus and training are important – but no system is 100% secure. Even the best‑protected businesses suffer breaches. Cyber insurance ensures that when the worst happens, your business is supported financially, legally and operationally.

What Next?

If you would like a no‑obligation cyber risk review or quotation, our team would be pleased to help.

Cyber threats are evolving every day – make sure your protection evolves with them.

Call us on 01709 278178 or send us at info@readhunt.co.uk

This leaflet is for information only and does not constitute advice or recommendation. Insurance cover is subject to individual circumstances, underwriting and policy terms. ‘Readhunt’ is a trading name of Read Hunt Limited, an independent insurance broker and is authorised and regulated by the Financial Conduct Authority (FRN: 304444).

Strategic Financial Planning for UK SMEs in 2026: How to Support Your Business Through Protection and Finance

As UK businesses look ahead to 2026, many are reassessing how they plan, protect and fund their operations.

The landscape remains challenging. Rising costs, ongoing economic uncertainty, evolving customer expectations and the need to invest carefully all require a more considered, strategic approach.

At Readhunt, we see this every day in our conversations with clients and strategic financial planning for UK SMEs is critical as business costs mount.

Beyond Insurance Alone

Insurance plays a critical role in protecting businesses from risk – but it is only one part of the picture.

Increasingly, successful businesses are thinking about how finance and insurance work together to support stability, flexibility and growth.

Used strategically, finance can help businesses:

Manage cashflow pressures
Invest in equipment or infrastructure
Navigate seasonal trading
Create contingency for uncertainty
Support controlled, sustainable growth

A Shared Approach to Business Support

As part of SRT & Partners, Readhunt works closely with First Business Finance – a specialist asset finance and business funding adviser that shares our people-first values.

Like Readhunt, First Business Finance focuses on:

Understanding the business first
Providing tailored, practical advice
Long-term relationships over short-term transactions
Clear, transparent communication

Together, this allows for more joined-up conversations around risk, funding and planning.

Why a Joined-Up Approach Matters

When insurance and finance are considered together, businesses often benefit from:

Better visibility of risk exposure
Funding structures aligned to real trading patterns
Improved decision-making
Reduced duplication and complexity
More confidence in future planning

It’s not about selling products – it’s about creating clarity.

Looking Ahead

As businesses plan for 2026, now is a sensible time to review not just protection, but also how funding could support your wider strategy.

At Readhunt, our role remains the same:

To provide clear, personal advice that helps businesses focus on what they do best – while knowing they are properly supported behind the scenes.

Who’s Behind Readhunt? Meet Tony Saunders, Our Managing Director

Tony Saunders, Readhunt’s Managing Director, believes in leading by example. At Readhunt, we often get asked: “What makes your approach to insurance different?” The answer is simple — people. We’re a customer-first business, proud of the trusted, long-term relationships we build with every client. Each business we work with has a dedicated insurance advisor who understands their sector, their challenges, and delivers tailored insight and advice that truly fits their business.

This week, we’re putting the spotlight on Tony Saunders, our Managing Director, whose journey reflects the values at the heart of Readhunt.

A Journey Rooted in Experience

Born and raised in Sheffield, Tony started his career in personal lines insurance, becoming a branch manager at just 21. A brief spell in construction allowed him to support his young family, but he returned to insurance at 28, joining Readhunt as a broker. Rising through the ranks, he became a Director in 2013 and proudly stepped into the Managing Director role in 2024.

“When you genuinely enjoy what you do, success follows naturally.”

Vision and Values

Tony’s vision for Readhunt is to continue building a truly independent, service-driven brokerage that puts people first – clients and team alike. His goal is for every client to feel valued, known, and confident that they can always speak to someone who understands their needs.

For him, success isn’t just about growth or numbers – it’s about setting the standard for service, trust, and personal relationships, and extending that people-first approach as the business grows.

Strengths and Leadership Style

Described by colleagues as caring, supportive, and hard-working, Tony is a strong listener who adapts to meet the needs of clients and his team. He believes that strong relationships are the foundation of great service, both internally and externally.

His career has taught him a key lesson: loving what you do provides the drive, resilience, and determination to succeed, no matter the challenges.

Life Beyond Insurance

Outside the office, Tony has been coaching junior football for over 16 years, running a local grassroots club with more than 200 children. He enjoys family life, walking the dog, travel, trying new restaurants, and watching sport. Balancing family and work has been a guiding principle, allowing him to give his best both professionally and personally.

Fun fact: as a child, he thought he wanted to be a barrister – a career path he soon realised wasn’t for him. Instead, he found his true passion in insurance, proving that finding purpose at work makes all the difference.

Looking Ahead

The future of Readhunt is shaped by an unwavering commitment to clients, open and proactive communication, and the personal service that has defined the business since its beginnings. Tony believes that growth should never come at the expense of trust, care, and meaningful client relationships.

At Readhunt, it’s simple: people buy from people. Our clients trust us because our advisors know their sector, understand their needs, and provide insurance advice that truly protects their business. And it’s leaders like Tony who ensure that every interaction is personal, informed, and service-driven.

If you would like to know more about Readhunt or have a corporate insurance need, speak to Tony on 01709 278 178.

Why UK SMEs Should Review Their Corporate Insurance Today

UK SMEs should review their corporate insurance – and the new year provides the perfect opportunity to take stock, reset priorities and reduce unnecessary risks. While many businesses review budgets, staffing and growth plans in January, insurance is often overlooked – even though it plays a critical role in protecting cash flow, reputation and long‑term resilience.

At Readhunt, we regularly see businesses that are either under‑insured, leaving them exposed to serious financial loss, or over‑insured, paying for cover they simply don’t need. A New Year business risk audit helps ensure your insurance works as hard as your business does.

Why reviewing your insurance matters

Your business rarely stands still – and neither should your insurance. Changes over the past 12–24 months can significantly impact whether your cover is still appropriate, including:

Growth in turnover or headcount
New contracts, clients or suppliers
Additional vehicles or equipment
Changes to premises or remote working
Increased reliance on digital systems and data

If your policy hasn’t kept pace, you may discover gaps in cover only when you need it most.

Under‑insured, over‑insured – or just right?

Under‑insurance: a hidden risk

Many SMEs underestimate the true value of their assets, liabilities or professional exposure. Under‑insurance can result in:

Claims not being paid in full
Reduced settlements due to average clauses
Unexpected cash flow pressure after a loss
Reputational damage if claims can’t be met

Over‑insurance: paying more than necessary

Over‑insurance is equally common. Businesses often continue paying for cover that no longer reflects their operations, such as excess limits, duplicated policies or outdated asset values. The result? Higher premiums with no added protection.

A structured audit helps strike the right balance – ensuring you’re protected without overpaying.

How the right insurance saves money long term

Insurance isn’t just a regulatory or contractual requirement – it’s a financial strategy.

Well‑structured cover can:

Prevent significant out‑of‑pocket costs following a claim
Reduce downtime after property or cyber incidents
Protect directors and professionals from personal liability
Improve lender, investor and client confidence
Support business continuity during unexpected events

In short, the cost of inadequate insurance is often far greater than the premium saved.

Key areas to review in your 2026 risk audit

At Readhunt, our audits focus on the risks that matter most to UK SMEs, including:

Commercial insurance – ensuring your overall business risks are accurately reflected
Commercial motor – fleet size, usage, driver exposure and claims trends
Property & liability – buildings, contents, employers’ and public liability
Professional indemnity – advice, services and contractual exposures
Cyber insurance – data protection, ransomware, business interruption and regulatory risk

Each area is reviewed in the context of how your business actually operates today – not how it looked years ago.

Make insurance part of your New Year business strategy

A New Year business risk audit doesn’t have to be complicated or time‑consuming. It’s a practical conversation that can uncover cost savings, reduce risk and provide peace of mind as you move into the year ahead.

Now is the ideal time to check whether your insurance is still fit for purpose.

Speak to Readhunt

If you’re a UK SME and haven’t reviewed your insurance recently, get in touch with Readhunt to arrange a New Year business risk audit. We’ll help ensure you’re properly protected – without paying more than you need to.

Contact us today to start the year with confidence:

T: 01709 278178

E: info@readhunt.co.uk

Why Are Over 70% of UK Properties Underinsured?

Underinsurance is one of the most common – and most costly – issues we uncover when reviewing clients’ policies. Recent industry data shows that over 70% of UK commercial and residential properties are underinsured – in some cases for as little as 60% of their rebuild value.

What does this mean? The amount they’re covered for will be less than the true cost to rebuild. Simply put, more than 7 in 10 UK properties – commercial and residential – don’t have enough cover.

For businesses, landlords and homeowners, underinsurance can turn a serious incident into a financially devastating one.

What Does Underinsurance Mean?

Buildings insurance should cover the full rebuild cost of the property – not its market value. The rebuild cost includes:

Materials and labour
Professional fees
Demolition and site clearance
External works, outbuildings and access

If your sum insured is set lower than this total, your property is underinsured, even if you believe the figure “sounds about right”.

Why It’s Such a Widespread Problem

Several factors are driving the scale of underinsurance across the UK:

Rebuild costs have risen sharply – Labour and material prices have increased significantly in recent years. Many policies have not kept pace with these changes.
Market value confusion – Owners often insure their property based on what it would sell for, rather than what it would cost to rebuild from scratch. These figures are rarely the same.
Renovations and improvements – Extensions, refurbishments and new equipment can increase the rebuild cost – but the policy isn’t always updated to reflect these changes.
Auto-renewals – Some companies have policies that are renewed without reviewing the sums insured, allowing a small gap to grow into a major exposure over time.

The Impact at Claim Stage

If a property is underinsured, insurers may apply the Average Clause. This allows the insurer to reduce the claim payout in proportion to the amount of underinsurance – even for a partial loss.

For example:

True rebuild cost: £1,000,000
Insured for: £600,000
Underinsured by: 40%

A £200,000 claim might only result in a £120,000 payout, leaving the owner to cover the £80,000 shortfall.

For many businesses, this gap can be financially devastating.

How to Check If You’re at Risk

Most insurance policies contain a condition for an up to date professional rebuild valuation carried out often within the last 3 years. Failure to have one invariably delays claims and could impact the amount that can be claimed.

Consider when your buildings sum insured was last reviewed properly – if it’s been several years or if you have made changes to the property, it’s time to reassess.
A professional rebuild assessment tool – such as Rebuild Cost Assessment can offer an accurate, up-to-date figure. The assessments take into account construction type, location, building complexity, outbuildings and today’s reinstatement costs.

Regular reviews every 3–5 years, with adjustments at renewal where needed, are now widely recommended across the industry.

How Readhunt Can Help

As an independent corporate insurance broker, our role is to ensure your cover genuinely protects you.

We support clients by:

Reviewing existing buildings sums insured
Identifying potential underinsurance risks
Arranging professional rebuild cost assessments
Working with insurers to ensure cover aligns with true rebuild values, whether underinsured or overinsured, neither benefits business owners.
Advising on business interruption sums insured as part of a complete protection review

Our focus is on clarity, accuracy and good value when it comes to your policy, ensuring that should the worst happen, your policy responds fully.

Is It Time to Review Your Sums Insured?

If you’re a business owner, landlord or property manager and would like to check whether your properties are valued correctly, our team is here to help.

A quick conversation can highlight whether a reassessment is worthwhile – and potentially prevent major issues later.

Get in touch with the Readhunt team here to arrange a review or discuss concerns about underinsurance.

Cyber Insurance: Why It Matters More Than Ever for Small and Medium-Sized Businesses

Cybercrime has increased sharply over the past year, affecting organisations of every size and sector. While high-profile incidents involving well-known brands often dominate the headlines, the reality is that smaller businesses are now some of the most frequent targets. Many attackers deliberately focus on SMEs because they often lack the resources, time or in-house expertise to manage cyber risk as effectively as large businesses and corporations.

At Readhunt, we are seeing more clients ask how they can better protect themselves – not only from the financial consequences of an attack but also from the operational disruption that follows. That is why we have been working closely with insurers to develop accessible and affordable cyber-protection options tailored to the needs of smaller organisations.

Why Smaller Businesses Are Being Targeted

Cybercriminals increasingly view SMEs as easier targets. Many rely on online banking, email, websites, customer databases or cloud software to run their business – yet underestimate how vulnerable these systems can be. Common risks include:

Phishing emails used to steal passwords or financial information
Ransomware attacks that lock systems until a payment is made
Business email compromise, leading to fraudulent invoices or payments
Data breaches exposing customer or employee information

Even a relatively minor cyber incident can lead to costly downtime, reputational damage and significant financial loss. For SMEs, the impact can be particularly severe.

What Cyber Insurance Can Offer

Cyber insurance is designed to support businesses before, during and after an incident. Modern policies typically cover:

Financial losses from business interruption
Ransomware and extortion costs (subject to insurer conditions)
Data recovery and system restoration
Legal, regulatory and notification expenses if personal data is compromised
Access to specialist incident-response teams
Forensic IT support to identify how the attack happened

Importantly, cyber insurance is no longer just for large corporates. Insurers now offer scaled, flexible options designed specifically for smaller firms.

Affordable Cover Designed for Your Risk Profile

Although cyber-insurance premiums have risen across the market, we have worked with leading insurers to create a range of products that offer meaningful protection at accessible price points.

Policies start from under £100, depending on your business activities and the level of cover selected. The application process is intentionally straightforward:

Answer a short set of questions about your business,
Review the available cover options,
Choose the level that best matches your risk and budget.

This ensures you are not paying for unnecessary features while still protecting your business from the most common threats.

Taking a Proactive Approach

Cyber risk cannot be eliminated, but the combination of basic security measures and a well-designed insurance policy can significantly reduce the impact of an incident.

For many SMEs, cyber insurance has become an essential part of resilience planning – providing a safety net at a time when attacks are becoming more frequent and more sophisticated.

How Readhunt Can Help

As an independent broker, we assess your individual risk profile and recommend solutions that offer the right balance of protection and value. Whether you are new to cyber insurance or reviewing an existing policy, we can guide you through the process and highlight what is most relevant for your business.

If you would like to explore cyber-protection options or obtain a quote, please get in touch, info@readhunt.co.uk or call us on 01709 278178 – we’re here to help you safeguard your business in a rapidly changing digital landscape.

What Makes an Expert Insurance Broker?

In today’s evolving risk landscape, the best corporate insurance brokers must do more than source quotes. They must combine deep product knowledge, sector-specific expertise, and strong client advocacy to deliver the right cover at the right price. At Readhunt, this specialist approach defines how we work.

Why Readhunt’s Corporate Insurance Specialists Stand Apart

With an exceptional renewal retention rate of nearly 98% – more than 10% above the industry average – it’s natural to ask what sets Readhunt’s corporate insurance brokers apart.

Readhunt is recognised as a leading provider of corporate insurance for SMEs. But what truly makes an expert broker, and why do so many businesses across construction, haulage, manufacturing, logistics and engineering choose Readhunt?

Our Role: Independent, Client-Focused Insurance Advice

At Readhunt, our brokers act solely as trusted, independent advisers. We advocate for our clients – not insurers – throughout the entire policy lifecycle. From initial consultation to claim resolution, our advisers become long-term risk partners, guiding SMEs throughout their policy term with expert advice, transparent communication and proactive support.

Specialisms That Matter

Our sector focus ensures we understand the pressures, risks and regulatory demands influencing your business – allowing us to build insurance solutions that genuinely fit.

Construction – from contractors and specialist trades to large construction firms requiring robust liability and contract-specific cover
Haulage & Transport – including fleet insurance, goods-in-transit solutions
Manufacturing – protection against operational risks, machinery breakdown, business interruption and supply chain exposures
Logistics – tailored policies for storage, distribution, fleet operations and third-party liabilities
Engineering – specialist cover for design, installation, mechanical, electrical and technical engineering operations

Expertise That Delivers Real Value

We understand that different industries face different risks. That’s why our team includes specialist brokers with deep experience in:

Comprehensive policy knowledge – ensuring clients always access the most suitable, up-to-date and cost-effective cover
Strong market access and negotiation – leveraging relationships with a wide range of insurers to secure the best possible terms
Unbiased, transparent advice – because we’re independent and client-led, not tied to insurer agendas
Proactive relationship management – supporting clients throughout the year with mid-term adjustments, policy reviews, claims assistance and dispute resolution
Dedicated motor claims support – all claims handled by dedicated Readhunt client claims manager, reducing insurer costs and lowering premiums

By blending these strengths with a genuine commitment to client advocacy, Readhunt delivers insurance solutions that protect businesses, assets and people.

Proven Trust, Proven Results

Our clients consistently recognise the value of our personalised service:

“We have been using Readhunt for many years for our company insurance. We have worked with all members of the team and found them all to be very professional, friendly and helpful – so much so that we now use them for our Fleet Insurance, Unit Insurance and Rentals. They are completely transparent with competitive prices. Thanks to all at Readhunt.” TH, Greenfield Joinery

SME Looking for Specialist Corporate Insurance Support?

Whether you operate in construction, haulage, manufacturing, logistics or engineering, Readhunt’s specialist brokers provide expert guidance and tailored protection that grows with your business.

Get in touch via info@readhunt.co.uk to speak with our corporate insurance team today for a free confidential policy review.

Readhunt – Same Approach, New Look

We are excited to introduce our new look and feel.

So why did we need a refresh? We are now part of SRT & Partners, a holding company owning industry leading commercial insurance and finance businesses. This exciting milestone in our journey is delivering huge opportunities to our clients with a growing range of solutions and services with the same high quality, expert personal service.

For us, this transformation represents growth, alignment with our parent company’s vision, and a commitment to innovation. Our goal is to create a cohesive experience while maintaining the relationships and personalised service you trust.

What Stays The Same

The quality of our service – same trusted people, same ethos
A commitment to deliver expert, tailored advice and bespoke insurance products
Transparent communication and exceptional customer support

What’s New

With our rebrand, you’ll notice updates across:

Visual Identity: A modern logo, updated colour palette, and refreshed digital presence.
Expanded Capabilities: Access to a broader range of insurance products and services through our parent company’s network enabling us to innovate and grow to benefit our clients
Enhanced Tools: New resources designed to help our partners grow and manage risk effectively – we can invest and thrive in a changing market, while protecting and enhancing what makes Readhunt unique.

Looking Ahead

This rebrand marks the beginning of an exciting new chapter. Our mission remains clear: to empower businesses with comprehensive insurance solutions that support long-term success. We are deeply grateful to our clients, partners and staff for their trust and loyalty as we take this next step together.

Join Us on This Journey

Explore our new website and discover how our refreshed brand and expanded services can better support your business. Stay connected with us on LinkedIn for updates, insights, and industry news.

Here’s to a future built on growth, innovation, and strong partnerships.

Navigating Insurance Renewals – A Partnership Journey

Insurance renewals can be an arduous and sometimes complex process. At Readhunt, supporting clients through this renewals journey is a key part of our role. Every business has unique risks and evolving needs – and researching available insurance products can be time consuming and sometimes baffling. Our role is to simplify this process for our clients. Our teams pride themselves on a profound knowledge of available insurance solutions. We ensure every detail is reviewed with care and clarity and reflects our client’s goals and needs. Our client, Daynes Monumental, sums up our approach:

“I have had the pleasure of working with Laura at Readhunt over the last few years. She has always been friendly, knowledgeable, reliable and professional. I used to find renewing various company insurances each year a headache but Laura takes that headache away. She makes the insurance process very easy and stress free for me. I’d not hesitate to recommend her and the company.”

Hellen Daynes, Company Secretary, Daynes Monumental

By combining professional expertise with a friendly, client-first approach, we help UK businesses renew with confidence.

Exploring Supply Chain Disruption Risks for SMEs

In today’s fast-moving economy, small and medium-sized enterprises (SMEs) must deliver products quickly and reliably to stay competitive. Yet fragile supply chains, limited resources, and rising cybersecurity risks can leave businesses vulnerable to costly disruptions. At Readhunt, we understand how these challenges can affect your operations, revenue, and reputation—and that’s where our tailored commercial insurance solutions come in.

Commercial insurance combines multiple protections into one policy—covering everything from property and liability to business interruption—designed to safeguard your company’s assets and financial health. As specialist B2B insurance brokers, we take the time to understand your unique risk profile, conducting an in-depth review to identify potential vulnerabilities within your supply chain and beyond. Your dedicated account manager will then help fine-tune a cost-effective policy that keeps your business secure and resilient.

With the right cover in place, you can focus on what matters most—keeping your business moving forward with confidence.

For more information about our commercial insurance products, contact us info@readhunt.co.uk

Is Sector and Product Expertise Critical in Insurance Broking ?

The insurance world can be complex. Whether you’re a national SME managing multiple sites, staff, vehicles, and digital infrastructure, or a catering company with potential fires in the kitchen, or a construction company building an industrial warehouse, there are multiple risks to consider. Off-the-shelf insurance products may seem convenient, but they often leave businesses either overinsured or facing critical gaps in cover.

At Readhunt, we believe what truly sets us apart is the strength of our relationships with both providers and clients, married with the depth of our expertise. As specialist commercial insurance brokers, we stay at the forefront of a constantly evolving market, monitoring new products and emerging risks to ensure our clients always receive the most comprehensive and competitive protection.

But expertise goes beyond product knowledge – it’s about understanding your business inside and out. That’s why we specialise in key sectors such as Construction, Manufacturing, Haulage, and Logistics, where our team’s in-depth knowledge allows us to anticipate challenges, manage risk effectively, and provide solutions that fit your operations perfectly.

Your dedicated Readhunt advisor will take time to understand your business, identify vulnerabilities, and design a tailored, cost-effective insurance programme that safeguards your assets and supports your long-term goals.

At Readhunt, we don’t just arrange cover, we build trusted partnerships grounded in sector and product insight, professionalism, and genuine care for your business success.

Contact us to explore the right insurance solution for your specific business needs.