[location-weather id="7878"]

Dynamic Business: 62% of SMEs likely to be underinsured

18 November, 2019 | 
Pureprofile 

Originally published: Dynamic Business, 18 November 2019

Almost 9 out of 10 small business owners agree that an insurance claim has the potential to put them out of business, cause them to lose revenue, or dry up cash flow.


Despite these statistics, 62 per cent of SMEs said they are unlikely to have the right insurance in place to protect their business.

The QBE SMEs and Insurance: A pulse check on risk trends for businesses report, launched last week, surveyed over 600 Australian SMEs[1]on their insurance habits. The results revealed that if faced with a claim, a majority of SMEs would likely run up large personal debts to pay these, with 33 per cent admitting to simply not knowing where the money would come from or how they would finance the legal costs.

[1] Pureprofile research study of 609 Australian SMEs completed for QBE Insurance during April 2019

Read the full article >

Continue Exploring

More data, insights and media from the experts

Infographic

2024 Paris Olympics: 14 days to go

How do people prefer to follow the Olympic Games? We asked 2,796 people in Australia, New Zealand, the UK, the US, Singapore, the Netherlands and Germany how they prefer to

SIGN UP NOW

Stay up to date with our latest news, insights and trends reports

SIGN UP NOW

Stay up to date with our latest news, insights and trends reports