A simple conversation that can strengthen broker value
Small businesses are the backbone of the Australian economy, but many are operating under increasing strain. A growing proportion are experiencing declining revenues, rising costs and tighter margins, leaving little room to absorb unexpected disruption. Extreme weather, staff shortages, and supply chain interruptions or technology outages, are real risks that can impact Australian businesses. Yet many are still operating without a clear plan for how they would respond if something went wrong.
The 2026 Vero SME Insurance Index highlights that four in ten businesses don’t have a Business Continuity Plan (BCP), and around one‑third aren’t familiar with the term. Without a plan, even a short disruption can expose businesses to prolonged downtime, lost income and difficult recovery decisions, at a time when resilience matters most.
“A lack of preparedness can carry serious risks, including damage to reputation, loss of customers and market share, legal disputes, and departure of key staff or suppliers. In many cases, consequences can be even more extreme – such as a business’s being unable to reopen after a major disaster. The Business Continuity Institute reports that 87% of organisations with a BCP recover faster from cyber incidents. So, it’s crucial to get a plan in place before disruption occurs.” Dale Garbett, Manager Risk Solutions, Vero.
Brokers have a key opportunity to help businesses to understand the need for a BCP
Brokers are in a unique position to raise business continuity, not as a technical exercise, but as a practical safeguard for income and operations.
The Index shows businesses are significantly more likely to take action on continuity planning when:
- it’s recommended by a trusted professional
- assisting with comparisons
- it’s linked to supplier or contractual requirements
- simple tools or guidance are available
A well‑timed conversation from a broker can be the trigger that moves a client from awareness to action.
Hear from real businesses about Business Continuity Planning
So what’s stopping businesses from acting?
Only a small proportion of businesses cite cost as a barrier. The main barriers are:
- uncertainty about the relevance for the size of their organisation
- time pressure
- lack the knowledge to create one
- competing priorities
For many business owners juggling operational responsibilities, formal planning can feel complex and time-consuming. Brokers can reassure clients that BCPs are straightforward, adaptable, and customised to their needs.
What This Means for Brokers
1. Keep it accessible
Consider and understand the industry that your client operates in as this will inform their planning needs. Introduce BCPs in a way that feels accessible, not technical. Talk about “what happens if the business is disrupted”
2. Offer small, realistic steps.
A one-page plan can provide meaningful guidance to get clients thinking and taking action.
3. Use real-world examples
Link the discussion to disruptions clients already recognise, without creating alarm.
4. Encourage progress, not perfection
Resilience builds over time. Support should match the pace of the business and risk maturity of the business.
Watch Vero’s step-by-step instructions to help clients create a simple Business Continuity Plan:
Business Continuity Planning is no longer a “nice to have” for SMEs. It’s a practical way to protect income, reduce downtime and support long‑term viability.
For brokers, it’s also an opportunity to:
- demonstrate proactive risk advice
- deepen client relationships
- reinforce value beyond insurance placement
Learn More
For more insights into how to support businesses in 2026
Watch the 1hr Vero SME Insurance Index 2026 webinar (CPD Accredited)
Download the full Vero SME Insurance Index 2026 report
Read RM Insight: Organisational resilience – through a Business Continuity Plan
Speak to a Vero Risk Engineer to help you create a Business Continuity Plan for your clients.
This content reflects insights from research conducted between September and December 2025 as part of the Vero SME Insurance Index Report 2026 (Report). AAI Limited ABN 48 005 297 807 trading as Vero Insurance (Vero) has commissioned the 2026 SME Insurance Index Report. The information in this article and Report is intended to be of a general nature only. Subject to any rights you may have under any law, Vero and its related bodies corporate do not accept any legal responsibility for any loss or damage, including loss of business or profits or any other indirect loss, resulting from any reliance upon on it - please make your own enquiries. Vero and its related bodies corporate do not guarantee the accuracy, reliability, completeness or currency of the information provided. Any advice has been prepared without taking into account your particular objectives, financial situations or needs, so you should consider whether it is appropriate for you or your business before acting on it. The information is not a recommendation or statement of opinion about whether a reader should acquire insurance from Vero (or its related bodies corporate) or services from any insurance intermediary or otherwise alter their business arrangements. Readers should confirm information and interpretation of information by seeking independent advice.
Categories
