UK companies lack proper insurance.
Position | Update |
UK companies are exposing themselves to significant risks because of the flaws in their corporate insurance policies, according to a commercial risk study by research specialist Mactavish and advisory firm PricewaterhouseCoopers.
The report reveals serious deficiencies in how corporate insurance is arranged and the role of boards in governing those arrangements. This is leaving firms vulnerable in the event of a large loss and subsequent dispute with their insurer.
The current system has "prioritised low transaction costs above reliable insurance policies", according to Bruce Hepburn, CEO of Mactavish. UK firms, especially medium-sized...
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