The challenging economic environment in the UK is leaving small to medium-sized enterprises (SMEs) open to significant levels of uninsured risk.
Research of more than 500 SMEs* found that:
- One-third (32%) of businesses don't take inflation or supply chain issues into consideration when reviewing how much to insure their business for.
- 10% of SMEs – more than half a million businesses – wouldn't survive if they had to pay up to £10,000 towards a claim that wasn't fully covered by insurance . . .
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