Reap the rewards
A growing SME market could provide an ample harvest for brokers and insurers, says David Overall.
It is estimated that there are four million SMEs in the UK. According to the Department for Business Innovation & Skills (BIS) in 2009 they accounted for 99.9% of all enterprises, 59.8% of private sector employment and 49% of private sector turnover. Together these businesses represent a massive body of insurance purchases, which comprise the bread and butter of many brokers and UK commercial insurers.
Fortunately, the importance of the prosperity of these companies has not been underestimated
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