The Importance of Insurance

There are two schools of perspective when it comes to insurance:

1.       Insurance is a waste of money.  Pay a premium, never claim and round it comes again the following year, and there is no return.  Plus, it takes time we do not have; or

2.       Insurance saved my business, when the {insert disaster situation here}.

The key is understanding what you buy when you purchase insurance and knowing that if the worst happens then there is some insurance that will respond.

I have been an insurance broker for over 30 years.  I have spent my time meeting businesses and not for profits getting to understand what it is that worries them and letting them know what I would be worried about if I was in their shoes.  It is a relaxed approach.  No one needs to buy insurance unless they want to.  There are only two compulsory covers – employers’ liability and motor fleet – so everything else is a matter of choice.

The choice needs to be an informed one.

It has been a turbulent year in the insurance world.  After many years of relatively low premiums in a competitive insurance market, the tide turned.  Fires, floods, overseas disasters, a pandemic and subsequent economic slowdown have hit insurers hard.  Premiums are going up for many, but not all.

Now is the time to become informed.

I started Sona Insurance Brokers in November 2019 having worked for a few insurance brokers over the years with a resolution that I would advise clients on what they can and cannot insure for and what they might consider and manage.  I am not an advocate of buying any and every policy that a company could buy, but I have seen my fair share of surprising situations to know how valuable a policy can be when things go wrong, particularly cyber related in recent times.

Part of the role is to be there when things do go wrong.  I have seen people run for the hills when things go wrong.  That is not our approach.  Sona wants to help.

Sona will help you undertake a thorough review of your organisation’s risks.  It does take a bit of time, but it leads to some major benefits, such as better premiums, preparedness and importantly peace of mind.

Sona means wisdom.  It is wise to be informed, particularly in these turbulent times. For more information visit:

by Rob Thacker

Sona Insurance Brokers 

Collaboration Partner – The Brooke Consultancy

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