A whopping 69% of UK businesses have no risk management plans in place.
This is among the findings of major new research by QBE Business Insurance, which also revealed that over one in four British organisations admit they are not prepared to deal with unforeseen circumstances.
In addition, only 16% carry out stress tests while 13% concede they make no preparations whatsoever for unexpected events.
QBE polled senior business executives in the UK, France, Germany, Italy, Spain, and the Nordic countries. It found that companies in Britain are the least equipped of those surveyed to handle surprises.
Also worthy of note – although perhaps not surprisingly – is that 45% of UK executives consider political uncertainty as the biggest risk facing their business. For European business leaders, the percentage stood at 33%.