A tick-off list for reviewing the annual open cover – timed for the renewal date, about 30 minutes of real work. The background explanation is in the review article; this is the working copy. Tip: it's worth pulling out the list 60 days before the renewal date, so there's time for tendering too.
In brief:
- Five blocks: numbers · profile · structure · claims picture · market.
- The outcome: either the cover is confirmed as is, a precise list of changes needed, or a tendering brief.
1. The numbers
- ☐ The closed period's actual turnover/number of jobs vs the base figure stated in the open cover
- ☐ Expected volume for the coming year (based on the business plan)
- ☐ The value of the largest planned project vs the open cover's per-project limit – is a separate policy needed? (article)
2. The profile
- ☐ Any new type of work or technology in the past year or in your plans (groundworks, erection, work in an operating facility…)?
- ☐ A new geographical scope (a different region, work abroad)?
- ☐ Changes in the plant fleet (new major equipment, the hire-to-own ratio) – does the plant cover keep up? (article)
3. The structure
- ☐ Liability limit: was it enough for the year's client/tender requirements?
- ☐ Deductibles: do they match the actual claims picture?
- ☐ Extensions: existing property, storage and transit, maintenance level – was any of these missing at some point during the year?
- ☐ Notification rules: did the routine work, was any job left out? (article)
4. The claims picture
- ☐ A list of the year's claims: what happened, from what cause, at what value
- ☐ Lessons for prevention (storm protocol, storage discipline, documentation – article)
- ☐ Status of disputed or drawn-out cases (article)
5. The market
- ☐ Decision: confirm as is ☐ / list of changes needed ☐ / go to tender ☐ (comparison table)
- ☐ If going to tender: a continuity plan for running projects (who covers what, and until when, at the changeover)
- ☐ The next renewal date and the interim checkpoint entered in the calendar
If you ask for a review: you bring the numbers and the plans, I bring the market picture – the result is cover sized to fit. Arrange a pre-renewal discussion →
A question tailored to your own project? Book a free 20-minute project consultation →
This article is for general information only and does not constitute an offer, or insurance or legal advice. The specific covers are determined by the insurers' terms and conditions in force at any given time; the section structure and the range of extensions vary by insurer.
