Small business commercial insurance

1966

Just wondering if it's usual practice for Insurance Broker to ask :-

1. Business turnover
2. Staff weekly wages

- don't recall having to provide that info to Insurance Company last year ?

368100

1966 wrote: »

Just wondering if it's usual practice for Insurance Broker to ask :-

1. Business turnover
2. Staff weekly wages

- don't recall having to provide that info to Insurance Company last year ?

Turnover is used partly to classify the company as micro, small or medium enterprise. That' required for reporting purposes which has gotten more comprehensive over the last year.

As for staff weekly wages i dont know. Is there an aspect of financial cover to the insurance?

Chiorino

1966 wrote: »

Just wondering if it's usual practice for Insurance Broker to ask :-

1. Business turnover
2. Staff weekly wages

- don't recall having to provide that info to Insurance Company last year ?

1. Yes, to gauge the size of the business.
2, Very common, used to calculate employers liability premium.

peteb2

Turnover is used to calculate your public and products liability exposure

Lusk_Doyle

Not to mention the level and type of BI cover that is required.