This checklist is for the policy sitting in your drawer: pull it out, and tick your way through it in 30 minutes. Each item is a question – if the answer is “yes,” move on; if it's “no” or “I don't know,” write it down: that becomes your to-do list. We've linked the detailed articles behind each point.
- What you'll need: the policy, the terms and conditions, and the most recent renewal letter.
- The list has six blocks: activity, limits, deductible, timing, exclusions and extensions, external compliance.
- “I don't know” is a result too: it means the policy doesn't give a clear answer – and that needs clarifying.
Block 1: Activity
☐ Does the policy's list of insured activities literally include every activity you carry out today?
☐ Have the new services and profile expansions of the past two years been reported? (change-notification article)
☐ Is the revenue figure the contract is based on still roughly accurate today?
Block 2: Limits
☐ Do you know off the top of your head (or can look up in a minute) the per-event and annual limit?
☐ Is the limit sized to today's worst realistic loss – not the one from two years ago? (limit article)
☐ Have you reviewed the sub-limits (property worked on, rented premises, pure financial loss)?
Block 3: Deductible
☐ Do you know both the amount AND the form of the deductible (fixed / percentage / min–max)? (deductible article)
☐ If a claim happened, could the deductible still be paid from reserves without trouble?
Block 4: Timing
☐ Do you know what temporal logic your cover follows (claims-made or otherwise)? (temporal scope article)
☐ For claims-made cover: do you know your retroactive date? (key article)
☐ Do you know what would happen to your cover if you switched insurers or closed the activity down? (run-off cover)
Block 5: Exclusions and extensions
☐ Have you read the exclusions list with your own activity in mind? (exclusions map)
☐ Are the extensions your operations call for (rented premises, property worked on, subcontractors, work abroad) included? (extensions)
☐ If you have employees: is the employer's liability question settled? (employer's liability article)
Block 6: External compliance
☐ Does the policy satisfy the chamber/statutory requirement, where one applies? (when it's mandatory)
☐ Does it meet the insurance clauses in your current client contracts? (client requirements)
☐ Do you have an up-to-date certificate of insurance wherever one is requested? (certificate article)
Scoring: 0–2 items written down: good shape – same again next year (annual-review routine). 3–5 items: targeted adjustments are needed. 6+: worth scheduling a full policy review (policy review) – bring the list to a free consultation, and we'll work through it point by point.
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