The 27th of June 2019 celebrated World Small and Medium Enterprises also known as SMEs. The Government of Sri Lanka recognizes SMEs as the backbone of the economy, as it accounts for more than 75% of the total number of enterprises, provides 45% of the employment and contributes to 52% of the Gross Domestic Production.
Despite playing a pivotal role in the economic development, many SMEs lack the support of risk management. Which is why Fairfirst Insurance offers a customizable and comprehensive suite of products tailor-made for SMEs. Therefore, with the correct insurance cover in place, entrepreneurs can focus on the growth of their businesses, be it from a roadside kade or a warehouse. As opposed to worrying about unexpected events that can slow them down or bring them to a complete halt. This product suite will provide coverage for many business-critical components such as:
- Inventory/Stock
- Money within premises or in transit
- Property
- Employee and personal wellbeing
- Business continuity
- Public liability
- Cyber security
These components are protected against situations such as peril, terrorism activities, theft and many more. The customizable policies can be bundled to ensure that total insurance requirements of SMEs are met. Purchasing of these policies can be done via visiting any of the 82 Fairfirst outlets or contacting the Fairfirst call center on 112 428 428.
Priyantha Perera, General Manager – Underwriting, Portfolio & Reinsurance at Fairfirst Insurance, said, “SMEs play a vital role towards the development of the economy as each business is unique in its nature and ever evolving. And as SMEs’ needs evolve, so should the support from Fairfirst Insurance. Which in turn would ensure our clientele, that they are insured with the correct insurance partner.”
As an empathetic insurer, Fairfirst believes in their customers thereby understanding that each business is unique and important to all business owner’s. Which means making sure that the solutions provided, fit their specific needs.
Fairfirst Insurance is part of the Canadian-based Fairfax Group. Fairfax, through its subsidiaries, has an international insurance and reinsurance business with a global underwriting reach, longstanding relationships and a broad product range covering retail, corporate and SME sectors. Fairfax has a strong foothold in the growing insurance and reinsurance markets of Southeast Asia, Eastern Europe, West Asia and Brazil.