New Delhi, December 05, 2018: Brexit remains the largest concern for small businesses in 2018, as uncertainty remains over whether a deal of any sort will be reached by the March 2019 deadline, says GlobalData, a leading data and analytics company.
Uncertainty surrounding a no deal remains the biggest issue, with existing arrangements for exporters and importers under threat. Similarly, sectors, such as construction, are heavily reliant on migrant workers.
GlobalData’s 2018 UK SME Insurance Survey found that over a third of respondents (36.8%) stated they were either concerned or very concerned about Brexit. This indicates there is a sizeable market for insurers to include cover for losses as a direct result of Brexit in their business policies in the short term.
Ben Carey-Evans, Insurance Analyst at GlobalData, comments: “Due to the concerns small businesses have, it is sensible for insurers to react and help provide businesses with some peace of mind as the ambiguity continues.”
AXA’s Brexit cover also came with free legal advice. GlobalData’s report: ‘UK SME Insurance: Distribution Dynamics 2018’ found that access to free legal advice was both the most received and yet still the third most wanted add-on for small and medium-sized businesses.
Overall, GlobalData research shows that AXA’s upgraded management liability cover hits two key marks for SMEs, in allaying Brexit concerns and providing free legal advice.
Corporate Comm India(CCI Newswire)
