SMEs not protected for loss of key staff members

SMEs not protected for loss of key staff members

According to the Yorkshire Post, research from Royal London has shown that one in four SMEs have insurance policies covering key personnel. It found more than half of senior decision-makers in British SMEs have heard of this type of insurance not thinking it is important to have in a policy.

This all comes despite three out of 10 of all SMEs having experienced the loss of a key employee for three months or more due to a serious illness. Of those SMEs aware of each type of cover nearly two-thirds believe it is important to insure their business premises, stock and equipment.  Read more

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