Survey finds start ups at risk from lack of PI cover
Small businesses and freelance consultants delay purchasing professional indemnity (PI) insurance for an average of six months after setting up, according to research by PolicyBee.
The survey also found that 39% of respondents did not purchase PI cover until at least three months after they had been in business. A further 20% waited two or more years until they purchased the insurance.
According to PolicyBee, those most at risk from delaying their purchase of PI cover were companies involved with design, engineering or marketing and communications.
Accountants however proved themselves the most keen to purchase cover with 90% buying PI insurance straight away and the
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