THE IMPORTANCE OF INSURANCE FOR THE SMES SECTOR
Journal Title: Zeszyty Naukowe Wyższej Szkoły Humanitas Zarządzanie - Year 2014, Vol 15, Issue 1
Abstract
Small, medium and micro-sized enterprises constitute the largest group in Poland and have a significant share in the GDP , while the degree of insurance against the risk of this group of companies is insufficient. Risk management through its transfer to the insurer is particularly important for SMEs, which are more than large corporations are exposed to various risks, among others.: from fluctuations in economic conditions, decreases in demand in times of economic slowdown and increased competition. The risk of doing business involves various areas of either property (material damages involving the sudden and unexpected loss, damage or destruction of property) and civil liability (for management decisions, mismanagement, errors of employees, responsibility for the product). Using of insurance is correlated with the risk assessment, the level of insurance awareness of entrepreneurs and the financial situation of the enterprise. Insurance for SMEs enterprises carry certain advantages but also risks and costs. In recent years, Poland has made the evolution of offers for SMEs from the insurers, among others. the more flexible insurance packages and their adaptation to the specific risks of different groups of small and medium enterprises as well as by the introduction of all-risk insurance and assistance.
Authors and Affiliations
Ewa Wierzbicka
Keywords
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- EP ID EP66131
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