The failure by many firms to learn lessons from the economic slump and reinvent their business model to cope with sector changes could leave them vulnerable and without commercial insurance.
Peter Cullum, owner of commercial insurance broker Towergate, told the Daily Telegraph that "more than ever", there is a need for companies to reinvent and ensure they can withstand the after effects of the recession.
Mr Cullum said that while he can understand the level of trauma seen by many firms during the downturn, it is essential that they move away from the over-used reasons for lack of performance and consider more dynamic changes.
Indeed, such concerns could be holding businesses back and leaving them open to unnecessary risk, which in turn could increase the chances of having to make a business commercial insurance claim.
Meanwhile, a study published by the Institute of Chartered Accountants showed a fall in business confidence, which could signal a slowing down in the pace of the economic recovery.
