The CII has revealed actions insurers can take to restore trust in the insurance profession, as small and medium-sized business are becoming increasingly concerned about policy exclusions.
While the UK was in lockdown to slow the spread of the coronavirus in April, the CII's Public Trust Index surveyed 1,000 consumers and 1,000 small businesses from across the UK, asking them to share whether the insurance profession was performing as they expected.
The poll showed small and medium-sized firms that had experienced little financial impact due to coronavirus restrictions were still focused on the same issues as before lockdown -- most importantly, renewal pricing. SMEs that had been somewhat impacted by coronavirus were concerned about how the policy had been explained to them -- levels of transparency and the quality of advice they have been given.
Businesses that had been significantly impacted by coronavirus reported that they wanted immediate assistance around their claim and to know that the policy was going to address their needs.
SMEs worst affected by coronavirus restrictions reported concerns around the transparency of their policy, stating they wanted more "clarity of language" so they knew how and when they could make their claim.
Read our article on the latest CII Public Trust Index on page 20.