Majority of SMEs are risk averse, survey finds
The majority of SMEs buy more than the minimum insurance cover but 30% are still willing to take a chance, a recent survey has found.
The study, conducted by Hiscox, found that nearly a third (30%) of SMEs told the insurer they only bought the minimum essential cover required, whether for their property and transport, or insurance required by law such as employers' liability.
The insurer also investigated the major business risks that SMEs do not currently insure against and discovered that the risk of not being paid by clients came top at 57%.
It added the figure was even higher in the IT and media sectors at 71%. Being sued
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