Simply Business Insurance Review UK: SME Cover, Costs and FCA Regulation

What Simply Business is and how it works

Simply Business is a UK business insurance broker that focuses on small and micro enterprises, sole traders, contractors and landlords. Rather than underwriting policies on its own balance sheet, it sources cover from a panel of insurers and presents quotes to the customer. This intermediary model matters for anyone comparing providers, because the entity that takes your premium for administration is not necessarily the entity that pays a claim.

The practical experience is built around an online journey. A business owner answers questions about their trade, turnover, number of employees and the risks they want covered, and the platform returns quotes from its panel. Policies can typically be set up, amended and renewed digitally, which suits trades that do not want to spend time on the phone. Documentation, including the policy schedule and the insurer product information, is issued once a policy is bound.

Because Simply Business is a broker, two separate relationships exist on every policy. The broker handles arrangement, mid-term adjustments and general service, while the underwriter named on the schedule carries the insurance risk and makes the final decision on any claim. Understanding which firm does what helps when a question arises about cover, cancellation or a disputed claim.

What Simply Business arranges cover for

The core product set is aimed at common SME exposures. Public liability cover responds to claims from third parties for injury or property damage. Employers liability cover, which is a legal requirement for most businesses with staff, responds to claims from employees. Professional indemnity cover addresses financial loss caused by professional advice, designs or services. Around these sit add-ons such as tools cover, stock, business equipment, buildings and contents for premises, and product liability.

Cover is generally packaged by trade. The platform tailors the question set and the suggested covers to whether the customer is, for example, a tradesperson, a consultant, a shop, a fitness instructor or a landlord. This trade-based approach is designed to surface the covers a particular occupation usually needs, though the responsibility for choosing adequate limits and the right combination ultimately rests with the policyholder.

• Public liability: third-party injury and property damage claims.
• Employers liability: mandatory cover for most businesses with employees.
• Professional indemnity: claims arising from professional services or advice.
• Tools, stock and equipment: physical assets used to run the business.
• Buildings and contents: for businesses operating from premises.

What Simply Business does not cover

Because cover is placed with third-party underwriters, exclusions and conditions are set by the insurer behind each policy and not by the broker. As a result, exclusions vary between policies and must be read in the specific wording rather than assumed. Common exclusions across SME insurance include deliberate acts, wear and tear, pre-existing issues known before inception, and losses outside the territorial or business-activity scope declared at purchase.

Two areas deserve particular attention. First, the declared business description must match what the business actually does, because activities outside that description may not be covered. Second, professional indemnity is usually written on a claims-made basis, meaning the policy responding to a claim is the one in force when the claim is made, not when the work was done. Allowing cover to lapse can therefore leave historic work unprotected.

How Simply Business performs on complaints

Complaint outcomes for any UK financial firm can be examined through the Financial Ombudsman Service, which publishes complaint volumes and uphold rates by firm at financial-ombudsman.org.uk. Across general insurance, FOS data has historically shown uphold rates commonly in the region of 30 to 40 per cent sector-wide, though figures move year to year and differ by product and by firm. Readers should consult the current FOS dataset rather than relying on a single quoted figure.

A point specific to the broker model is that complaints may concern the broker, the underwriter, or both. If a complaint is about how a policy was sold or administered, it usually sits with the broker. If it concerns a claim decision, it usually sits with the insurer. Both are within scope of the FOS for eligible complainants, and the deadlines and escalation rights are the same.

How to make a claim

Claims are notified through the route set out on the policy schedule, which may direct the customer to the underwriter or to a claims handler acting for the insurer. Prompt notification matters, because most policies require claims to be reported as soon as reasonably possible. Keeping evidence such as photographs, correspondence, invoices and any third-party details supports a smoother assessment.

If a claim is declined or only partly met, the policyholder has the right to complain. The first step is the insurer or broker complaints process, which must issue a final response within eight weeks. If the outcome is unsatisfactory, eligible micro-enterprises and individuals can escalate to the Financial Ombudsman Service free of charge within the stated time limits.

Is Simply Business FCA authorised

Simply Business operates as an FCA-authorised firm, which is the baseline regulatory requirement for arranging insurance in the UK. Authorisation means the firm is subject to FCA conduct rules, must treat customers fairly and must signpost the Financial Ombudsman Service. The most reliable way to confirm authorisation and check the precise permissions a firm holds is to search the FCA register at fca.org.uk/register. This review does not quote a registration number, because those details should be read directly from the official register.

Frequently asked questions

Is Simply Business an insurer or a broker?

Simply Business operates as an insurance broker. It arranges cover from a panel of underwriters and handles administration, but the insurer named on the policy schedule carries the risk and decides claims.

Is Simply Business FCA authorised?

Yes, it operates as an FCA-authorised firm. You can confirm its authorisation and exact permissions by searching the FCA register at fca.org.uk/register.

What types of business does Simply Business cover?

It focuses on small businesses, sole traders, contractors and landlords across many trades, arranging public liability, employers liability, professional indemnity and related covers.

Who handles a claim if I buy through Simply Business?

Claims are decided by the underwriting insurer shown on your schedule, following the notification route set out in your documents. The broker handles policy administration rather than claim decisions.

What can I do if a claim is rejected?

You can use the insurer or broker complaints process, which must give a final response within eight weeks. If you remain dissatisfied, eligible customers can escalate to the Financial Ombudsman Service free of charge.

Does Simply Business cover the same risks for every trade?

No. Cover is tailored by trade, so the suggested combination of policies and limits differs between occupations. The policyholder remains responsible for choosing adequate limits.