The UK’s SMEs are forced to ignore Brexit planning as they have fallen behind on issues such as GDPR compliance and cyber security, new research reveals.
Almost a quarter (24%) of respondents to insurance firm Zurich’s latest broker survey said their SME clients now ask them about GDPR on a regular basis. Regular enquiries about Brexit were recorded by just one in 10 (10%) brokers and more than a third (35%) said that their clients never asked about exiting the EU.
Data from the recent study suggests a lack of resource to address both immediate and long-term planning could be a problem. Almost half of insurance brokers (43%) have seen a significant increase in enquiries about GDPR cover and compliance since the deadline passed.
Paul Tombs of Zurich, said: “While Brexit contingency planning seems to be all over the headlines, we are registering very low levels
of engagement with the issue among smaller businesses in the UK as less strategically important issues take centre stage.”
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