Insurance
Home›Insurance›Industry & Deals›Growing firms may need higher liability and cyber cove…
Growing firms may need higher liability and cyber coverage
A US Chamber of Commerce survey found 66.0% of small businesses expect revenue growth, while only 35.0% plan to add staff, raising the risk that coverage limits lag behind.
Insurance Business highlights how growing companies often fail to recognize that their insurance program has become outdated, even when coverage still looks sufficient on paper. Coverage gaps can emerge as firms add employees, expand geographically, or take on contracts that increase the financial consequences of a loss, with brokers positioned to spot the mismatch.
The outlet points to warning signs that show up in board-level growth plans and operational changes, including insurance limits that remain static while the business evolves. It also notes the issue may become more common as more US small businesses prepare to expand, citing a US Chamber of Commerce second-quarter 2026 Small Business Index showing 66.0% expect revenue to increase over the next year, and 35.0% plan to add staff.
Liability limits are described as one of the clearest indicators that coverage has fallen behind, because businesses may accumulate more assets, revenue, and contractual obligations without increasing the limits they purchased as smaller operations. Insurance Business also reports that Union Bay Risk Advisors’ Patrick Sullivan says brokers frequently see businesses move into the middle market without raising excess liability protection.
The article adds that ancillary coverage inside business owners policies or commercial packages can also become insufficient, particularly for employment practices liability, directors and officers insurance, professional liability, and cyber coverage as workforce and exposures grow. It flags cyber sublimits as a specific concern, given that expanding businesses may hold more sensitive information and become more dependent on digital systems.