Business Protection Statistics

Business Protection is a growing market in the UK and it needs to grow.  Currently, Business Protection insurance is the most overlooked insurance many businesses have.  So why should you consider Business Protection Insurance?

  • There are over 4.3 million businesses in the UK each with their own specific financial needs, most of which have not addressed those needs
  • 2.2 million people of working age will be off work for 6 months or more at any one time through illness or disability. 
  • It is estimated that the current protection gap is £2.3 trillion
  • At the start of 2004 24% of businesses were limited companies, 13% partnerships, 1% limited liability partnerships and 62% were sole traders. Each of these has a different protection need.

According to Gordon Brown he said, ” Britain has only one truly national resource - the talent and potential of its people.”  This is true to say but when more than 95% of Businesses have no form of Business Protection insurance in place it shows that those businesses have no idea of just how much their staff mean to them.  In most cases,  without people, the business is nothing.  Is this what your business would be?

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