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Seven of 10 uninsured SMEs in Spain disappear after losses: Study

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Spain-based insurer Mapfre S.A. has said in a study that seven of 10 uninsured small and medium-sized enterprises in the country disappear after incurring a loss, Cincodias.com reported.

Only 30% of SMEs in the country have a policy that covers costs in events of disasters, under condition in which the business has been partially or fully affected, Mapfre said. About 86% of SMEs do not have directors and officers liability insurance, added Mapfre.

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