UK employees are in danger from inadequate risk management procedures, warns security company ArmorGroup International, in a feature published on the Strategic Risk website. Click here for the full story.Almost one in ten (9%) UK-based companies fail to insure their employees and other critical company assets when they are deployed abroad, according to new research by Armorgroup. The security provider also reveals that the majority of these companies do not provide insurance cover abroad, with only a fraction (3%) doing so in high risk regions such as Iraq and Afghanistan.
ArmorGroup warns senior company executives that this lack of adequate insurance cover is a glaring example of companies’ failure to properly address the critical issue of duty of care to their employees and could leave them open to litigation as a result. ArmorGroup believes that this failure is due in part to the fact that around one in five (19%) companies has absolutely no risk management programme in place.
The sectors least likely to insure staff or assets abroad are transport/storage and construction firms, with just a third doing so compared to manufacturing firms who tend to make adequate arrangements.
