(Free Press Release) Cheltenham based insurance broker Contact Insurance has urged small and medium sized businesses to review their business protection cover in light of recent research carried out by Scottish Widows.
It has been reported that 80 per cent of small businesses have no cover if an important employee is unable to work due to critical illness or death. A serious illness or accident is not only bad news for the employee, but for small businesses it could have a severe impact on business performance.
David Yates, Head of Marketing at Contact Insurance said: “Due to the current recession many small businesses are more concerned about cash flow rather than prepare for the unexpected loss of a crucial member of staff.”
It‘s natural that the majority of us take our health and well being for granted, but with one in five sole traders admitting that having at least one employee absent through critical illness, accident or even death would have a negative effect on business survival.
Before a company takes out any Business protection it is advisable that they seek some guidance from a broker such as Contact Insurance, who can talk a small business through what policies are available and suggest appropriate cover according to the company‘s needs and requirements.
As a specialist in Business protection, Contact Insurance feel they are ideally placed to help companies with their business cover options. They are able to search the whole of the market for the most competitive deals in Keyman (Key person) insurance, Shareholder protection, Business medical insurance and Death in Service protection. Their website http://www.contactinsurance.co.uk allows companies to search through a list of options via their quote engine, before speaking to a trained advisor.
For more information or guidance on Business protection options for your business, Contact Insurance provide a free quote service on 0800 328 5773, or visit the website at http://www.contactinsurance.co.uk for a online quote.