Covid-19 spurs interest in business protection

L&G research shows

John Brazier
clock • 2 min read

The Covid-19 pandemic has increased interest in taking out business protection among SME business owners, Legal & General research shows.

The insurer's annual State of the Nation 2021 research, which surveyed more than 500 UK SMEs, found that there has been a shift in perception as a result of the pandemic, with four in 10 businesses "wishing they had done more in advance." Just under half of respondents stated that the pandemic has made them more likely to take out business protection for the possibility of loss of their key people, while 50% of respondents said they were more likely to take out protection on their business loans. Almost all respondents (97%) stated that they are looking to professional advisers for ad...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Business

Business Protection: Are advisers doing enough to help clients mitigate risk?

Business Protection: Are advisers doing enough to help clients mitigate risk?

COVER, Talks: Business Protection, Thursday 18 April

Cover
clock 20 March 2024 • 2 min read
Workplace financial stress costs firms £10.3bn annually

Workplace financial stress costs firms £10.3bn annually

CEBR report shows financial stress is plaguing UK workforce

Sahar Nazir
clock 14 November 2023 • 2 min read
The cost-of-living crisis and conveying need in an uncertain market

The cost-of-living crisis and conveying need in an uncertain market

"Key to successful conversion is positioning and language"

Nathaniel Lee
clock 28 September 2023 • 2 min read