Brexit remains the largest concern for small businesses in 2018.
Leading data and analytics company, GlobalData, has said that uncertainty remains over whether a deal of any sort will be reached by the March 2019 deadline.
Uncertainty surrounding a no-deal remains the biggest issue, with existing arrangements for exporters and importers under threat.
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Similarly, sectors, such as construction which is 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.
Insurance Analyst at GlobalData, Ben Carey-Evans, said:
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.
- Digital Desk