Non Insurance Of SMEs

In December 2008 the Insurance Council of Australia released the findings of a study of insurance levels by small to medium sized enterprises (SMEs).  It found:

• 25.6% of SMEs do not have any form of general insurance.
• 40% of sole traders have no general insurance (the highest group).
• 80% of businesses inadequately insured considered premium costs the reason.
• There was minimal difference in the numbers not insuring across the States.

Their earlier, more detailed, study of 2002 indicated 1 in 6 small businesses had no insurance indicating non insurance has grown significantly.

What an opportunity for brokers.

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Author

Claim Solutions Pty Ltd.

Insurance Policy

Country: - Australia

Policy Description: - General Insurance

Insurer: - All

External Links

 Insurance Council of Australia