business interruption cover

A Third of SMEs have No Insurance

A total of 30% of small firms have no insurance at all, commercial insurer Premierline Direct has claimed. The research also revealed that just 16% of small firms -have business interruption cover and only 17% have commercial legal cover. Association of British Insurers (ABI) spokeswoman Kelly Ostler–Coyle said the results were not surprising, though they were worrying. “Business leaders are taking cost–cutting measures, but a lack of insurance cover could leave small businesses out of pocket or even out of business,” she said. “Some people may not be well advised about the different insurances they can take out, but generally a lack of insurance is a business decision – and not a very wise one. Businesses make business decisions every day about what the... »