Small businesses in the UK are facing an uphill battle to secure insurance coverage and handle rising premiums, according to a new report from the Federation of Small Businesses (FSB).
The report, based on a survey of 819 small business owners in January this year, found that 16% of respondents have experienced a premium increase of more than 25% over the past 12 months, while around one quarter (24%) said that this has caused them to assess and/or reduce expenditures. Over half (52%) SMEs that reported increased premium costs said that the rise is 11% or greater, while some individual businesses have seen cost rises "far in excess of that - particularly following a clai...
To continue reading this article...
Join Cover
- Unlimited access to real-time news, key trend analysis and industry insights.
- Stay on top of the latest developments around Covid-19, regulation, diversity and mental health.
- 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.
