Close to half a million workers in the UK are at risk today because Britons do not know enough about insurance, it has been claimed.

Not just at an individual’s level, the levels of knowledge at the employer and business levels have been found to be very low.

According to a research by a price comparison website, employers are now cutting on insurance costs in order to counter the recession.

According to the findings of the study, there are close to 33 percent of workers in the UK who are not covered under basic liability insurance for the workplace.

Even as a matter of employer’s liability, insurance in case of an accident in the workplace, these workers will stand uncovered.

Something as basic and obligatory as employer’s liability insurance has not been initiated in one third of the workplaces.

In addition to this, those workplaces that already have this kind of insurance are looking to reduce this cover or cut it out completely.

A policy advisor has expressed his concerns about this current trend, saying that many people assume wrongly that their lives are protected financially and adequately. They look up to the government and their employers to provide them with protection.

In such a situation, an individual life insurance policy becomes something of a necessity.