Majority of insurance brokers do not perceive the UK’s departure from the European Union as a risk to their business and SME clients, according to a new survey by insurer
RSA.
The company’s
Future Impacts report revealed that 32% of brokers expect Brexit to have a positive impact on their firms, while another 32% do not see any effect at all.
Based on the research findings, 32% of brokers also believe that leaving the EU would bring positive effects to their SME clients, while 31% predict that Brexit will not have an impact.
Only 17% of brokers said Brexit will have a negative impact on their companies and SMEs.
Most SMEs themselves do not view Brexit as a threat to their business, with 27% saying it would bring positive effect and 43% expecting no impact at all.
According to the survey, only 17% of SMEs ranked Brexit as one of the top three risks to their growth in the next 12 months. Also, only 7% of brokers placed Brexit among the top three risks to their SME clients.
“The disparity between the overall positive outlook SMEs have about Brexit with the economic uncertainty that SMEs perceive as the most major risk is notable,” RSA said in the report. “While Brexit is not perceived as a risk in itself, the uncertainty it is causing could be having an indirect impact.”
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