News: Brokers given heads up on cottage trade rising potential
Brokers have been urged to take full advantage of the recession-fuelled growth of sole traders as demand for cover for 'cottage trades' increases.
Tim Larke, associate partner at Ryan Insurance Group, said the brokerage had seen a 20% growth in revenue from sole trader business in 2009 and that he expected to see the same again this year.
Broker-only insurer Groupama said it had seen a smiliar trend and had been asked to cover a growing number of cottage trades, which involved providing cover for a variety of risks it had little or no experience of.
According to Groupama, the most popular micro businesses it had been asked to cover
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