The purchase of insurance is part of the obligations and rules that govern companies. This is essential to protect the company’s assets and for the well-being of its employees. Indeed, no company is safe from disasters and also from accidents. On the other hand, no definite list of insurance policies must be taken out. These vary according to the company’s sector of activity and the number of employees. Find out in this article which insurances are mandatory for certain activities.
What Are the Essential Insurances for a Company?
Whatever its sector of activity, a company can be the victim of a disaster (fire, etc.). However, if the damage is more serious, the company’s cash flow may be unable to help. Taking out insurance, can compensate for the damage caused. To benefit from maximum coverage in case of need, the company must choose according to its real needs and the risks related to the activity. It is also possible to seek advice from an insurance broker.
For the building sector
The BTP insurance is essential to the companies whose activity is linked to construction as :
the frame ;
The construction insurance includes the ten-year civil liability, the guarantee of good functioning, and the guarantee of perfect completion. The subscription to the decennial insurance is compulsory for the builders. It can cover the company for 10 years from the date of acceptance of the work. The insurance subscription must be done before the beginning of the building site and concerns the construction projects as well renovations. The decennial insurance can intervene if the company is held responsible in case of problems such as faulty workmanship. On the other hand, to protect itself from damage that may be caused to a third party and the property surrounding the construction site, the company can also take out risk and guarantee insurance.
Health professionals must also protect themselves against the risks of the trade. The most exposed are those who have a self-employed status or liberal status. These are dentists, nurses, anesthesiologists, etc. According to the law of March 4, 2002, self-employed health professionals must take out civil liability insurance. This type of insurance includes legal protection and covers the costs in case of damage caused to a third party.
In addition to civil liability insurance, they can also choose complementary health insurance that will cover them in case of health problems and hospitalization. In addition, to protect their property from possible damage or theft, they can also take out business premises insurance.
However, some insurance are required for all companies regardless of their activity.
Worker’s Compensation and Illness Insurance
As soon as a company hires employees, it has responsibilities toward them. Indeed, they must be compensated in case of accidents occurring in the workplace or on the way to work. Insurance can help with medical care and prostheses. It also provides compensation if the accident results in the worker’s incapacity. In case of death, the beneficiaries will also receive a pension.
Professional Multi-Risk Insurance
This insurance is very interesting for companies, since it offers guarantees covering all the goods and activities of the company. The professional multi-risk insurance concerns all companies whatever their size, their sector of activity, their turnover and also their status. Indeed, companies can be victims of equipment theft, fire damaging the premises, or other more serious problems. If they do not have insurance, they will be obliged to cover all the costs.