Insurance Lawyers Warn Small Firms Unprotected From Fines

Law360, London (February 10, 2021, 3:35 PM GMT) -- Small and midsized businesses in the U.K. have been hit with more than £100 million ($138 million) in fines by regulators over the past four years, a law firm has said, as it warned of a "perception gap" over the need for insurance.

BLM LLP has compiled the data on fines from the Financial Conduct Authority, the Serious Fraud Office and the Information Commissioner's Office and released it as a "tracker" to insurers and brokers.

The London-based company said on Monday it hoped the tool would help to overcome the perception among senior managers of small companies that they do not...

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