Analysis

In Focus: Hard market and Covid-19 brings brokers more schemes opportunities

By 2021-05-26T11:42:00

looking binoculars business man

Fallout from the Covid-19 pandemic has pushed schemes for SMEs up the agenda, with ’brokers looking at this closer than ever’

Amid the ongoing hard market against the backdrop of the Covid-19 pandemic, the use of broker schemes has grown.

However, these market conditions often bring increased premiums and tightened wordings, in turn making risks harder to place. This is where schemes - defined by insurer Ecclesiastical as “a tailored solution for customer groups with common needs” – can provide a beneficial opportunity for brokers due to their bespoke nature.

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