Research Shows Lack Of Cover For Staff Abroad

by Stewart Douglas

Story link: Research Shows Lack Of Cover For Staff Abroad

Security group ArmorGroup International has today published research which shows an underlying lack of insurance cover for employees and company assets based outwith the UK, reflecting a significant minority of companies exposing themselves to potentially business-threatening damages.

The alarming report published today also showed that the majority of those companies don’t provide cover even where assets and staff are located in dangerous regions and conflict areas such as Iraq and Afghanistan, which has been cited as a potentially risky strategy, particularly in the case of certain critical business assets.

The research published today was targeted at company executives and urged them to reconsider their duty of care to employees and the potential for increased litigation around areas where insurance cover is lacking, particularly given the shocking lack of risk management procedure implemented across business in the UK.

ArmorGroup risk management divisional director Neil Young was critical of the lack of cover. “UK workers can face a range of threats irrespective of whether they are employed in a country such as Iraq or a seemingly safe European state.”

“It is the duty of employers to ensure that they receive the necessary training and support before being sent abroad and are given the right level of insurance and protection when they are there.”

Transport and construction ranked highest amongst sectors least likely to insure their workers, whilst manufacturing firms were more likely to take precautions and insure their staff and assets when utilised abroad, reflecting a growing divide amongst different industries when it comes to insurance and risk management.

The ArmorGroup report has been designed to enlighten top level management as to the potential risks to their staff and assets based abroad and in conflict areas, whilst encouraging proactive action in handling risk management procedures.