For more on this part of the insurance industry:
Large companies and enterprise insurance protects businesses with many employees, high-value assets, or global operations. It helps cover losses and legal claims caused by:
In the UK, large businesses are only 0.15% of firms but drive most private-sector turnover and jobs. This makes tailored insurance essential for enterprise-level companies.
Many UK logistics and retail businesses are vulnerable to cyberattacks. Some may have to delay or cancel thousands of online orders due to ransomware.
Those with cyber and supply chain insurance tend to recover faster and reduce losses. Others often struggle with long delays, legal claims, and reputational damage.
Big firms are using AI to speed up risk checks which pushes brokers to offer more flexible cover. ESG goals now shape demand for green and reputational insurance as well.
Many corporate firms are also setting up captives, so brokers must support reinsurance and personalised advice. However, there are issues in this sector that must be addressed:
Employment disputes linked to hybrid working and discrimination are now common. This raises the cost of liability claims. UK firms also face growing pressure on EDI policies due to US backlash, despite the positive impact on businesses.
According to the Companies Act (2006), a business is classed as a large company if it meets two out of the three criteria below:
These thresholds are used by HMRC, Companies House, and UK regulators to define large enterprises for accounting, tax, and reporting purposes.
As of 2024, there are around 8,250 large businesses in the UK. Although they make up just 0.15% of all UK businesses, they generate most of the country’s turnover and jobs.
Their size and threat exposure make them the main users of large companies and enterprise insurance.
Major organisations need insurance that safeguards their staff, property, and day-to-day functions. The right mix relies on the company’s structure, size, and sector.
Employers’ liability is mandatory in the UK for any business with employees. Other common covers under large companies and enterprise insurance include:
Each business encounters various hazards, so it’s important for brokers to customise policies to match both current needs and future plans.
There is no set price, but insurance for large organisations often costs thousands to millions of pounds each year, depending on what is covered. Premiums vary based on:
Many big firms use brokers to negotiate multi-policy deals under large companies and enterprise insurance.
Yes, comprehensive cover is vital for larger organisations due to their complex operations, higher risk exposure, and regulatory obligations. Self-insuring may leave gaps, especially in areas like D&O, cyber, and liability.
Large companies and enterprise insurance supports legal compliance, protects assets, and ensures continuity after major losses. It also helps meet contract terms and investor requirements.
