Hybrid working practices are posing increased risks to businesses in relation to computer insurance, according to research.

Insurer HSB's study shows that 46% of respondents have lost or damaged IT work equipment with laptops and mobiles accounting for 64% of items, followed by computer accessories and desktop computers.

Whilst taken from a relatively small sample of around 350 workers, the findings point to confusion and misconceptions about computer insurance cover which could leave some businesses exposed if they are not adequately covered.

Despite 54% reporting that their business insurance policy covers work equipment used at home, according to the findings. Some 13% specified that it doesn’t, while one third of respondents admitted they were unsure.

Typical causes include wear and tear, physical damage from trips or falls, spillages and theft.

Commenting on the survey’s findings, Mat Prentice, cyber product leader at HSB, said: “The popularity of modern working trends must be balanced with understanding the potential risks of businesses not being covered for their computer equipment. With the value of IT equipment having risen sharply over the past two years, some businesses could be underinsured if the sum on their policy doesn’t cover the cost of replacing or repairing computer-related assets. To reduce risk, it’s vital that they review what their exposure is and check they have adequate insurance cover for repairs and replacements to their computer equipment.”

Share Story: