CEOs lack commercial cover awareness, says ALP
Nearly one in four CEOs don’t know what claims or eventualities their business is covered for under their commercial insurance policy, according to The Protection Gap survey commissioned by Abbey Legal Protection (ALP).
When questioned about whether a variety of potential claims would be insured for in their work place, 21% of CEOs and 18% of senior management admitted that they didn’t know.
According to the findings, senior management believe a standard commercial insurance policy covers the business for:
Personal injury (57%)
Damage to company property (55%)
Employment law claims (42%)
Dispute over an employment contract (33%)
Disgruntled employees (20%)
Tax investigations (18%)
Loss of crucial
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