Businesses worried about car insurance
Tue, 10 May 2005
Nearly 50 per cent of UK small businesses are worried about the rising cost of insurance.
Research by Norwich Union shows that nearly half of UK executives are concerned that premiums are set to rise.
However, the study also showed that many firms avoided purchasing the cheapest insurance cover because they feel they would lose out on a number of benefits associated with more expensive cover.
Around 75 per cent of firms agreed that insurance was an essential business expensive, although 15 per cent of respondents did admit that they would not purchase insurance if it was not a legal requirement.
"For insurers and particularly brokers, this can provide a key opportunity to position themselves as risk advisers as well as salespeople," said Debbie Heaney, of Norwich Union.
"By providing the latest updates on legal and health and safety issues, we can really add value as an industry."
© DeHavilland Information Services plc
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