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More than half of SME owners lean on brokers to enroll in coverage and a quarter rely on insurance professionals to fully research and price out their options. (Credit: Antonio Guillem/Shutterstock.com) More than half of SME owners lean on brokers to enroll in coverage and a quarter rely on insurance professionals to fully research and price out their options. (Credit: Antonio Guillem/Shutterstock.com)

Although they show a high level of awareness for risks and challenges facing their organizations, just 22% of small- and medium-enterprise (SME) owners fully read through their insurance policies and 56% admit to not knowing the exact cost of their commercial coverage, according to Embroker.

Further, 1 in 5 admitted to not knowing how their insurance purchases are handled, while nearly 30% of SMEs allow their insurance to auto-renew without making changes.

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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