Company Insurance
What is Company Insurance?
Corporate insurance is a type of insurance cover usually used by large organisations to protect their business against operational risks such as theft, financial losses, employees’ health and accidents. It is comprehensive business insurance that benefits the past or present employees as well as the company itself. Corporate insurance provides you with absolute lawsuit protection due to incorrect decisions proved unintentional or negligent on the part of the management or employees. Insurance companies can even seek legal help when it must disburse a claim under corporate insurance. Some of the popular insurance types under corporate insurance -Property Insurance, Professional Liability Insurance, Worker’s Compensation Insurance, Group Health Insurance, Product Liability Insurance, Business interruption Insurance.
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Types of Company Insurance
Property Insurance
Professional Liability Insurance
Worker’s Compensation Insurance
Group Health Insurance
Product Liability Insurance
Business interruption Insurance.
Advantages of Corporate Insurance
Corporate insurance helps build and improve clientele and network of vendors. Companies tend to look into the financial stability of the client before entering into a contract with them. One of them is whether or not the client is insured against business risks. Some even insist that their clients be insured before proceeding toundertake transactions with them.
Employees are the irreplaceable assets of any company and help flourish the business of the company. Hence, taking care of their health and well being becomes vital. Companies can take group insurance health cover for their employees. Additional keyman insurance is an essential aspect of corporate insurance. It, in turn,provides a sense of security to the employees too, thereby improving their productivity.
Corporate insurance primarily protects the company from the loss of income caused because of any severe disasters.
Corporate insurance is needed to protect the physical assets of the company, such as furniture, computers, stock, etc. to be compensated for any damages by natural disasters or loss by theft.
