2014 strong year for SMEs
But research shows that over 200,000 companies in the UK are not covered by insurance.
Three quarters of SMEs improved or maintained their turnover in 2014 and 21% of owners took on more staff, according to research by LV.
However, the research also showed that 4% of SMEs, over 200,000 companies across the UK, have no insurance cover in place and that 80,000 SMEs who employ staff have no employers' liability insurance, meaning they could be prosecuted and fined by the Health and Safety Executive (HSE).
Opportunity
Mike Crane, commercial lines director at LV Broker, told Insurance
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