Lack of planning leaves SMEs in Australia vulnerable to business interruption

11/7/2018 4:55:00 AM

Source: Business Insurance

A report by Australia-based MetLife Insurance Ltd. found that more than a third of local small and medium-sized enterprises do not have a succession plan in place, Asia Insurance Review reported. More than half of SMEs would be able to operate for only up to a year if key persons were unable to work. Several SMEs did not have insurance for absence of key persons, trauma and disablement, the report added.