Risk & Insurance Review

Is your insurance program keeping pace with your business?

Most businesses set up their insurance when they first started out and renew it each year without much thought. But your business has changed. New staff, new equipment, new contracts, expanded operations, maybe a move to new premises. If your insurance hasn’t kept pace, you could be exposed in ways you don’t yet know about.

A Risk and Insurance Review from Clear Insurance is a structured health check on your existing insurance program. We look at what you have, what you actually need, and where the gaps are. You walk away with a clear picture of your risks to help you make informed decisions on whether to keep, mitigate or transfer the risks to insurance.

You don’t have to wait for renewal. In fact, many of our clients come to us mid-term, particularly after a significant change to their business.

What triggers a review?

A Risk and Insurance Review is worth considering if any of the following apply:

• Your business has grown, restructured, or changed its activities since you last reviewed your cover
• You’ve taken on a major contract that specifies minimum insurance requirements
• You’ve made a significant capital purchase, such as new plant, equipment, or a property
• You’ve experienced a claim (or near-miss) and want to understand your exposure
• You’re switching insurance advisers or engaging an adviser for the first time
• You have a gut feeling your premiums don’t reflect the cover you’re actually getting

What does the review cover?

Our advisers ask the questions and examine your business structure, operations, revenue, assets, and contractual obligations to build a complete picture of your risk profile. From there, we produce a gap analysis report that identifies:

• The risks your business faces
• Where your existing cover falls short
• The types of insurance solutions you can consider to close gaps

The Risk and Insurance Review is a paid service. The report is yours to keep, and there is no obligation to appoint Clear Insurance as your insurance advisers. We provide our recommendations with care and transparency – what you do with them is entirely your decision.

Frequently Asked Questions

How long does a Risk and Insurance Review take?

Most reviews are completed within one to two weeks from our initial conversation. The timeline depends on the complexity of your business and how quickly we can gather the information we need. For straightforward businesses, we can often turnaround a gap analysis report faster.

Does a review mean I have to change insurers?

No. The review is independent advice. If your existing program stacks up well, we’ll tell you. If there are gaps or better options available, we’ll show you exactly what they are and let you decide. The goal is clarity, not churn.

What information do I need to provide?

We’ll guide you through this. Generally, we’ll ask for copies of your existing policies, a summary of your business activities, your revenue, and details of any assets you own or lease. If you have existing certificates of currency, those are helpful too.

How much does a Risk and Insurance Review cost?

The Risk and Insurance Review is a paid service. The fee reflects the time and expertise our advisers invest in understanding your business and preparing your gap analysis report. If you choose to appoint Clear Insurance as your insurance advisers following the review, we are remunerated on an agreed fee-for-service basis. We’re transparent about how we’re paid – full details are in our Financial Services Guide.

Can I get a review if I already have an insurance adviser?

Yes. Many clients come to us for a second opinion, particularly when they feel their current adviser isn’t asking the right questions or engaging proactively with their needs. The review is independent advice. Appointing Clear Insurance as your adviser is a separate decision for you to make if it feels like the right fit.

When is the best time to do a review?

The honest answer: any time. Ideally, start the conversation at least 60 to 90 days before your renewal so we have time to evaluate your needs and the market properly. However, if something has changed in your business, mid-term is perfectly fine. The worst time to discover a coverage gap is after you make a claim.