Businesses are failing to obtain enough liability protection to protect their bottom line, but a majority of company owners say the amount of risk they foresee does not justify purchasing the coverage, an insurer's survey has found.

Warren, N.J.-based Chubb Group of Insurance Companies sponsored the 2008 Chubb Private Company Risk Survey of 469 U.S. for-profit company risk managers.

The survey found 37 percent of U.S. companies do not purchase any type of management liability or professional liability insurance. Sixty-three percent do not purchase employment practices liability; 66 percent fail to purchase crime insurance; 63 percent do not purchase directors and officers liability coverage; and 91 percent do not buy cyber liability insurance.

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