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Guide to business health insurance renewals in the UK
How UK group PMI renewals work: why premiums rise, when to start comparing, and how to switch without a gap in cover. For SME employers approaching renewal.
A renewal invite is a starting price, not a verdict. Medical inflation, scheme claims, and underwriting changes all push premiums up. SMEs that start comparing 8–12 weeks before the renewal date have time to switch cleanly. Leaving it to the last week usually means you accept the incumbent.
Why the number went up
Even a claim-free scheme can rise with market medical inflation. Claims on your scheme, a worse age profile after hiring, or a change in hospital list will add more. Insurers also reprice appetite. None of that is automatically “a bad broker” — but you should still test the market.
How to switch without a gap
Do not cancel the existing policy until the new one is in force. Align inception dates. Check waiting periods and whether pre-existing conditions are treated differently on the new wording. Membership data (joiners/leavers) must be accurate on day one.
What to send a broker
Current schedule, membership list with dates of birth, claims experience if available, and the renewal invite. Like-for-like first, then a cheaper design if you need to cut cost (higher excess, tighter outpatient).
Frequently asked questions
Can we switch mid-term?
Sometimes, but you may lose unused premium and restart underwriting. Most SMEs switch at renewal unless cover is badly wrong.
Related: Cost drivers · Business PMI