This is a non-exhaustive list of some insurance policies you may consider taking out to protect your company, its functionality and assets…
Workers Compensation Insurance
In Australia, workers compensation insurance is a compulsory, statutorily governed form of insurance taken out by employers to cover accident and injury in the workplace.
Professional Indemnity insurance protects you against claims of breach of your professional duty, in the form of error, act or omission. Such a claim has the potential to severely hinder or even bankrupt companies, and, as such, professional indemnity is a no-brainer for most practitioners in the professional services sector.
This policy covers your liability for accident, injury or death to a third party’s person or property resulting from or connected to your business activities.
Business stock, technology, office space and the personal effects of employees are very valuable and often costly assets. If you were to be without any of them due to theft, fire, floods, breakdown, business interruption, damage in transit or fraud, as basic examples, your business capability may be severely obstructed. Enter a business insurance policy to ensure that in times of unforeseen distress your business remains functional.
This information is of a general nature only and does not constitute professional advice. You must seek professional advice in relation to your particular circumstances before acting.
Updated — Sep 9, 2015