BIBA launches ‘Small Business Insurance for Dummies’

14th May 2014

The British Insurance Brokers’ Association (BIBA) has produced the new ‘Small Business Insurance for Dummies’ guide.  It is an introductory guide for small and medium-sized enterprises (SMEs) on securing suitable general insurance to protect their businesses and will be distributed through BIBA members.

Graeme Trudgill, BIBA’s Executive Director, co-authored the guide which aims to be a helpful tool for brokers to use with their SME customers. Launched onstage at BIBA’s conference by Steve White, BIBA’s Chief Executive, he highlighted the new guide as one of the areas where BIBA is working with a focus to support SMEs.

Steve said: “We are delighted to make this guide available to our members and their SME clients.  It will not only provide a helpful tool for brokers but is also a strong platform to promote the need for advice and the important role that brokers play in helping and protecting SMEs. The aim is to use this additional resource to help supplement the guidance that brokers already provide.”

Graeme Trudgill, BIBA’s Executive Director, said: “Insurance is complicated and this handy pocket guide has been created to help explain to SMEs why they should consider various options for their business, which types of insurance are legal requirements as well as what is essential for them. They can work with their broker who can help them arrange suitable cover.

“We partnered with the ‘Dummies’ series as it is the world’s best-selling reference brand, selling more than two hundred million books, with one sold every minute in the UK. It is a great way to deliver important messages about obtaining the right cover to ensure the UK’s businesses are suitably protected.”

The guide follows ‘Business Continuity for Dummies’ which was launched by The Cabinet Office and BIBA in 2012 to help SMEs understand the importance and significant benefits of business continuity plans.  Hard copies of the new guide will be available to BIBA members along with an online version.

Fellow author Stuart Sterling, who led the Cabinet Office group that produced ‘Business Continuity for Dummies’ said:  "Insurance is an essential but sometimes complex area to get right.  This helpful little guide will be a great support to all existing and future SMEs in helping them to understand it better." 

-ends

Notes to editors
 

  1. Click here for photo of Steve White Chief Executive and Graeme Trudgill, Executive Director
     
  2. Copies of the Dummies guide are available on request.
     
  3. For further information please contact:

    BIBA press office:
    Leighann Forsyth, Head of Communications
    07917 738 721
    forsythl@biba.org.uk 
     

  4. About British Insurance Brokers' Association
    The British Insurance Brokers' Association (BIBA) is the UK's leading general insurance intermediary organisation representing the interests of insurance brokers, intermediaries and their customers.

BIBA membership includes just under 2,000 regulated firms having merged with the Institute of Insurance Brokers (IIB) in November 2011.

General insurance brokers contribute 1% of GDP to the UK economy and BIBA brokers employ more than 100,000 staff.

53% of all general insurance is sold by an insurance broker and they arrange 81% of all commercial insurance business.

Insurance brokers put the client’s interests first, providing advice, access to suitable insurance protection and risk management.

BIBA helps more than 400,000 people a year to access insurance protection through it’s Find a Broker service, both online and via the telephone.

BIBA is the voice of the industry advising members, the regulators, consumer bodies and other stakeholders on key insurance issues.   BIBA provides unique schemes and facilities, technical advice, guidance on regulation and business support and is helping to raise, and maintain, industry standards.