Businesses are failing to obtain enough liability protection to protect their bottom line, but a majority of company owners say the amount of risk they foresee does not justify purchasing the coverage, an insurer's survey has found.
Warren, N.J.-based Chubb Group of Insurance Companies sponsored the 2008 Chubb Private Company Risk Survey of 469 U.S. for-profit company risk managers.
The survey found 37 percent of U.S. companies do not purchase any type of management liability or professional liability insurance. Sixty-three percent do not purchase employment practices liability; 66 percent fail to purchase crime insurance; 63 percent do not purchase directors and officers liability coverage; and 91 percent do not buy cyber liability insurance.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
