This checklist is the practical companion to the annual-review routine: seven points, once a year, about 20 minutes. The best timing is the month before renewal – when there's still comfortable time for any adjustments or for shopping the market. Put it in your calendar as a recurring reminder.
- What you'll need: the policy, the renewal/indexation letter, and a list of this year's business changes.
- About half the seven points are about changes – renewal is the annual moment for syncing everything up.
The seven points
☐ 1. Read the renewal correspondence. Indexation notice, premium notice, amendments to the terms – what is the insurer telling you about next year? Note down anything with a deadline (the cancellation window).
☐ 2. Sync your activity. Have this year's new services and profile changes all been reported? If not: catch up now (change-notification article). Something new planned for next year? You can flag it already.
☐ 3. Update the numbers. Revenue, headcount, largest project size – if these have grown materially, the limit question reopens (limit article). For contracts priced on revenue, a data disclosure may be due around now anyway.
☐ 4. Check the structure. Is the deductible right for today's reserves? Do the extensions match today's operations (rented space, machinery, subcontractors, work abroad)? A quick pass with the contract checklist, if you skipped it last year.
☐ 5. External compliance. Has the chamber requirement changed? New client clauses, tenders coming up next year? Refresh certificates wherever needed (certificate request checklist).
☐ 6. Check the premium. Is the premium increase (if any) justified and proportionate? Every two to three years, or after a material increase: run a market comparison – based on content, not just price (comparison checklist). Thinking about switching? Check the continuity rules first (switching-insurer article).
☐ 7. Tidy up the folder. Policy, terms, data disclosures, certificates, claim-notification confirmations, all in one place – this is the first thing you'll go looking for if a claim happens (documentation article).
Scoring
If all seven points are ticked and everything's “fine”: renewal is done, see you next year. If 2–3 points need action: that's typically a short piece of admin – an email is enough to get it moving. If points 3, 4 and 6 all flag something: your business has probably outgrown its policy – worth scheduling a full policy review and a market comparison (policy review). For my broker clients, I start this round when they let me know before renewal; if you'd like it handled that way: free consultation.
Tip: attach it to a routine you already have
An annual checklist survives only if it isn't a separate task but a passenger on a routine that already runs. Good anchors: the week after your accountant closes the year (revenue figures are freshly at hand), the autumn paperwork clear-out, or the arrival of the renewal/indexation letter – the latter is the natural trigger, since you have to pick it up anyway. The key is the link: “whenever I do X, the insurance 20 minutes comes with it.” And a second tip: it's worth saving a dated copy of the completed checklist (a photo of the ticked-off sheet is enough) – next year you'll be able to see what changed over the year, and that change history is, on its own, a valuable picture of your business.
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