Should key workers be insured?The majority of small and medium-sized enterprises in the UK are reliant on just one employee, yet many have not taken steps to get this worker insured, it has been revealed.

New research by Scottish Widows reveals that 83 per cent of such firms are dependent on such an individual, but 62 per cent have not had this key role insured.

It was found that those businesses reliant on one main worker would find their profits and the survival of their company seriously impacted in the event of the person’s illness of death, highlighting the importance of absence management.

Richard Jones, protection market director at Scottish Widows, said: “It is concerning that such a high percentage of UK entrepreneurs do not have financial contingency plans for their business in the event of losing key staff.”

He added that the current economic climate emphasised how crucial it is for businesses to review their finances and improve their control over the future and security of their organisation.

General secretary of the Trades Union Congress Brendan Barber recently stated that more needs to be done to help people off sick return to employment.