Zurich Life Australia and financial services group Crowe Horwath have joined forces to raise the take-up of business expenses insurance among small companies.

They will provide risk management advice on ways businesses can keep operating if owners are injured or fall sick.

Crowe Horwath Head of Insurance Maurice Thaung says many business owners do not understand the cover.

“I feel it’s a huge issue that business owners don’t understand or know what sorts of solutions are available to them to address this specific risk and others to their business,” he told insuranceNEWS.com.au.

Mr Thaung says cost is always an issue, but advisers can research the best and most cost-effective solutions, then discuss the costs of not having protection.

“We advise more than 200,000 SME clients and while most acknowledge the need for income protection, insuring fixed business expenses specifically is often overlooked.”

Zurich Life Head of Research for Life Risk Andy Marshall says 92% of small business owners lack the cover.