U.K.’ s BCC, AIG Team up to Offer Small Business Solutions

September 8, 2006

The British Chambers of Commerce (BCC) has teamed up with AIG Europe (UK) Limited to provide small and mediums sized businesses (SMEs) with tailored insurance solutions and advice on business risk management.

“Recent research has exposed that many small businesses are putting their organizations at serious risk by either being under-insured or worse still not insured at all,” said the bulletin. “In many cases SMEs have not even considered the risks they face or believe that they have nothing to worry about. Protecting its membership from business risk is a key objective of the BCC so this partnership with AIG Europe is designed to both highlight the issue of poor risk management and insurance cover as well as provide an innovative product solution.”

BCC Managing Director John Dunsmure commented: “Businesses fail every day not because they have a bad idea but because something unfortunate happened to them. In business, as in life, many of us don’t want to think about the risks we are facing. A simple assessment of the risks you have and then a conversation with a broker about putting in place a good insurance policy is going to be the difference between who survives a disaster and who goes out of business. The research on business failure after a crisis makes very sober reading and the message about the need for planning and insurance protection couldn’t be starker. That’s why we feel it is important to work with AIG Europe to try and spread the word within the small business community.”

AIG Europe will be running a series of launch events through the Accredited Chamber Network from September 2006 and will also be offering Chamber members competitive premiums on their cutting-edge small business insurance products.

“Chamber Risk Insurance offers packaged and combined insurance solutions usually enjoyed by large corporates,” the bulletin continued. “It offers a comprehensive range of policies designed to provide protection that goes beyond ordinary package cover closing the recognized gaps in standard SME insurance offerings. The main areas of cover include; property, business interruption, employers liability, product and public liability, directors and officers liability insurance, equipment breakdown, personal accident, medical and vocational rehabilitation.”

Tim Grant, Vice President, Small Business Solutions AIG Europe (UK) Limited added: “Successful entrepreneurs recognize the need to take risks in business but these should be measured risks. A key aspect to reducing potential threats to a business should involve due consideration to risk management. Those who take action to minimize the potential impact of an unforeseen incident and take out adequate insurance are undoubtedly better protected.”

To find out more about Chamber Risk Insurance and how you can become a member of your local Chamber please go to www.chamberonline.co.uk.

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