Like any market, the business insurance market experiences different cycles that can affect pricing and how easy it is to get cover. Depending on the stage of the cycle we’re in, this can mean more risk and higher premiums for you.

That’s where we can help. As insurance experts, we can help you navigate the insurance market to provide you with value for money. We will find insurance that is suitable to cover your business needs. And as part of Steadfast, Australasia’s largest network of general insurance brokers, we can help negotiate better cover.

A hardening market can mean higher premiums and tougher underwriting decisions – so it pays to get an expert on your team.

Understanding insurance market cycles

Insurance premiums are generally governed by the insurance cycle. This moves between a ‘hard’ and ‘soft’ market, based on economic factors. In a soft market, insurers are chasing market share. They will compete with lower premiums and better underwriting terms. This makes it easier and cheaper to get the cover you need. Factors like a worsening economy and higher claims which could be due to a string of natural disasters like storms and poor investments can lead the market to become hard. During these times premiums tend to be higher and underwriters less willing to take on additional risks.

Insurance cycle

How can we help you navigate the business insurance market?

We take the hard work out of getting the most suitable cover at a competitive price. As part of Steadfast, Australasia’s largest general insurance broker network, we have access to policies from national and international insurers. This means we can help find the right policy for you. We’re experts in helping you: