Would you ever drive a car while wearing a blindfold? How about signing a contract that could make or break your business without reading it? Most probably would not be so reckless. Yet many small-business consumers buy insurance coverage without having a clue as to what their policies actually say–and appear to be anything but happy about that state of affairs.
Insurance policies may never be beach-reading material, but small-business buyers are often frustrated by an inability to easily comprehend their coverage terms and conditions, two recent Deloitte Research focus groups revealed.
Dissatisfaction with hard-to-understand policy language came through loud and clear during the focus groups, which examined the needs, preferences and shopping habits of 20 people from a variety of industries responsible for insurance purchasing at their respective companies.
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