Leave insurance grows among SMEs and the self-employed

With an eye toward minimizing the economic impact suffered by SMEs and the self-employed in the current context of pandemic, sick leave insurance will experience an increase of more than 60% throughout 2021.

Being protected against unforeseen events that can affect business continuity is one of the main reasons that are leading SMEs and the self-employed to choose to take out sick leave insurance.

This is at least clear from the data provided by BBVA, according to which, BBVA Allianz Seguros insurance solutions have grown more than 60% in Spain throughout 2021. This increase is due to the growing interest of these professionals in having a policy that covers the costs associated with sick leave by accident or illness.

Not in vain, temporary work disability insurance BBVA Allianz Seguros offers compensation that complements the public benefit in the case of sick leave to SMEs and the self-employed. In addition, the insured knows what compensation they will receive in advance without having to wait for the end of their sick leave to collect it.

Warning, scroll to continue reading

As pointed out by BBVA, the contracting of temporary work disability insurance already represents more than half of the insurance contracted by SMEs and the self-employed, growing only during the months of January to October of this year by 64% compared to the same period of the year. last year.

According to data from the Ministry of Labor for 2020, they indicate that last year there were almost 31,000 work accidents among self-employed workers that required the processing of medical leave, with the consequent reduction in their income that this entailed. It must be borne in mind that, in SMEs and the self-employed, there are fixed expenses that must be paid even if they are on sick leave and no or minimal income is received.

Even in the development of the activity, and consciously or unconsciously, damage to the environment can be caused that is also important to cover. The Environmental Responsibility Law 26/2007 establishes the payment for these damages, so that the Environmental Responsibility policies are also attracting more and more interest to cover these expenses.

In this sense, and with an eye toward avoiding natural disasters, some insurances such as BBVA’s cover the expenses involved in implementing preventive measures.

Cybersecurity insurance

The fact that more and more freelancers and SMEs are betting on having insurance, highlights the need for these professionals to have financial sustainability. Something that also contributes to having cybersecurity insurance.

According to the data handled by the INCIBE (National Institute of Cybersecurity), cyberattacks can lead to losses ranging from 2,000 to 50,000 euros in small companies. An economic outlay that, in many cases, leads to the bankruptcy and disappearance of these businesses.

This problem is also causing more and more SMEs to decide to take out insurance to protect them from computer attacks that block their equipment, or the theft of data, or any other incident that entails the paralysis of their activity and, consequently, the entry of income.

Proposals such as BBVA Allianz even offers you services of IT and legal assistance to help these businesses to prevent these attacks and to cover civil liability against third-party claims and sanctions from the AEPD (Spanish Agency for Data Protection) as a result of the loss or theft of data due to a cyberattack.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *