Blog: Opportunities in commercial life cover
DirectLife’s Neil McCarthy argues the case for brokers adding protection for SME staff to their portfolio.
In 2017, there were 5.7m businesses in the UK of which over 99% were classified as small or medium sized businesses (SMEs), i.e. those employing 0-249 people.
But of that 5.7m, 96% (or 5.5m) are micro-businesses, employing fewer than ten people.
The majority of these businesses rely on one or two individuals for their commercial survival. And, the average age of the business owners is 49. What happens when a key person gets ill?
Therein lies the problem - most of these business owners will
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop