# Adelaide Insurance Broker Westphalian Warns on SME Underinsurance

- Link: https://www.thailand-business-news.com/pr-news/adelaide-insurance-broker-westphalian-warns-on-sme-underinsurance
- Published: 2026-07-14T10:22:00+07:00
- Author: MarketersMEDIA Newswire

_Westphalian Insurance Brokers is urging South Australian small businesses to review
their cover after national figures showed rising intermediated premiums and close
to one in ten SMEs reporting underinsurance._

Adelaide, South Australia, Australia, July 14, 2026 — Small business renewal notices
are arriving higher across South Australia this July, and national survey data suggests
almost one in ten of the firms opening them are underinsured. Westphalian Insurance
Brokers, a general insurance brokerage on Hutt Street in Adelaide, has urged local
owners to review their cover before renewing rather than accepting rollover terms,
citing new market figures released over the past quarter. As an **[insurance broker Adelaide](https://westphalian.com.au/)**
businesses engage for commercial, farm, and personal cover, the firm arranges policies
through multiple insurers rather than selling one company’s products.

Figures published by the Australian Prudential Regulation Authority in March 2026
show total premium invoiced through insurance intermediaries reached $22.97 billion
in the six months to December 2025, up from $22.28 billion in the same period a 
year earlier. Higher premium rates across several commercial classes account for
part of that growth. Another part reflects more businesses seeking professional 
help to place risks they can no longer arrange confidently on their own.

![](https://storage.googleapis.com/mmstudio-images/gallery/FBJ0bZbYzjX5jZyh6O0I2pqTA2B3/
1783996071709-0.png)

More information is available at **[https://westphalian.com.au/](https://westphalian.com.au/)**

Cost pressure is landing on firms that were already stretched. Suncorp’s Vero SME
Insurance Index, a national survey of 1,750 Australian businesses, found that almost
one in ten SMEs describe themselves as underinsured, and only 42 per cent review
their sum insured each year. Underinsurance occurs when a policy’s insured value
falls below the actual cost of replacing property, stock, or equipment, leaving 
the owner to fund the shortfall after a loss. For a small trader or farming operation,
that gap can be the difference between recovering and closing.

Brokers sit on the client’s side of that problem. An **insurance broker Adelaide**
businesses appoint acts for the policyholder rather than the insurer, comparing 
cover from multiple underwriters and negotiating terms on the client’s behalf. Westphalian
arranges business insurance, public liability insurance, professional indemnity 
insurance, farm insurance, landlord insurance, and cyber, home, and motor cover 
for clients across the city and regional South Australia. The brokerage operates
as an authorised representative of Community Broker Network, which holds an Australian
Financial Services Licence, and works within the Insurance Brokers Code of Practice
administered by the National Insurance Brokers Association.

“Most of the underinsurance we see is not a deliberate gamble. It is a policy that
was right three years ago and has never been looked at since,” said a spokesperson
at Westphalian Insurance Brokers, who added that building costs, equipment prices,
and rental values in South Australia have all moved faster than most sums insured.“
A renewal notice is not a review. Sitting down once a year and checking what the
business actually owns is the cheapest risk management most owners will ever do.”

Demand for advice is also shifting by sector. Farm clients in the state’s regions
are reviewing cover as machinery replacement costs rise, while property investors
are re-examining landlord policies as Adelaide’s rental market tightens. The firm
has also fielded more questions about the **[public liability insurance Adelaide](https://westphalian.com.au/insurance/insurance-services/public-and-products-liability-insurance/)**
tradespeople and event organisers are required to hold under venue and contract 
terms. The brokerage said on-site risk assessments across its client base continue
to uncover gaps that online quoting tools miss, particularly on older commercial
buildings. When a business is underinsured at claim time, the shortfall flows through
to staff, suppliers, and customers, which is one reason industry bodies continue
to urge annual policy reviews.

**About Westphalian Insurance Brokers**

Westphalian Insurance Brokers is an Adelaide general insurance brokerage located
at 206 Hutt Street, Adelaide SA 5000, arranging business, farm, and personal insurance
for clients across South Australia.

Contact Info: 
Name: Westphalian Insurance BrokersEmail: [Send Email](https://send.releasecontact.com/89197761)
Organization: Westphalian Insurance BrokersAddress: 206 Hutt Street, Adelaide SA
5000Phone: 08 8232 3118Website: [https://westphalian.com.au](https://westphalian.com.au)

Release ID: 89197761

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**Source** : [Adelaide Insurance Broker Westphalian Warns on SME Underinsurance](https://news.marketersmedia.com/adelaide-insurance-broker-westphalian-warns-on-sme-underinsurance/89197761?rand=206000)

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