Small and medium-sized enterprises (SMEs) are increasingly worried about the various risks posed to their businesses and are taking up more insurance plans.
They face the obvious risks of fire or other property damage. But there are other contingencies too, such as the sudden death of the SME’s head honcho, that many are starting to contemplate.
Insurers and banks which deal with many of these smaller business owners said they have observed an increase in the take-up rate of business insurance, the Straits Times daily reported.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Singapore Newsroom; Editing by Sunil Nair)