7 IMPORTANT INSURANCES EVERY CORPORATE SHOULD HAVE

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7 IMPORTANT INSURANCES EVERY CORPORATE SHOULD HAVE

• FAST COLLAB

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Description

• From the day when an entrepreneur begins a
  business, he exposes himself to certain risks.
  Even before the first employee is hired, business
  is in danger, making it necessary to have the
  right insurance compulsory in place. One claim or
  catastrophic event could be sufficient to wind up
  a small business before it even can get off the
  ground.
• Fortuitously, businesses have access to the wide
  range of insurance policies and types to protect
  them against these risks. Here are some insurance
  types that the company must have in place as soon
  as possible.

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1. Professional liability insurance

• Professional Insurance that protects the
  professionals such as accountants, lawyers
  physicians against claims initiated by their
  clients. Depending on the business, professional
  liability insurance might have various names,
  such as medical malpractice insurance for
  doctors, and errors omissions insurance for the
  real estate agents. Professional liability
  insurance is a specialty coverage that has not
  provided under homeowners endorsements, in-home
  business policies or business owners policies.
  It merely covers claims made during the policy
  period.

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2. Property insurance

• Whether the business owns or leases its space,
  property insurance is the must. This insurance
  covers equipment or materials, signage, inventory
  and furniture in the event of fire, storm,
  earthquake, theft or some other weather damage.
  It includes specific forms of insurance such as
  flood insurance, fire insurance, home insurance,
  earthquake insurance, or boiler insurance.

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3. Workers compensation insurance

• Workers compensation insurance is required to be
  added to the business insurance policy once the
  first employee is hired. This policy covers
  disability, medical treatment and death benefits
  in case an employee is injured or is demised as a
  result of his work within the work premises. Even
  if employees are performing apparently low-risk
  work, slip-and-fall injuries or medical
  conditions such as (CTS) carpal tunnel syndrome
  could lead to a preposterous claim.

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5. Product liability insurance

• Product liability insurance protects against
  claims of personal injury or property damage
  caused by products sold or supplied through your
  business. It provides protection against
  financial loss resulting out of the legal
  liability incurred. It is designed to help
  protect your business by ensuring that if this
  happens, you dont have to pay any legal or court
  costs. The coverage possible can be tailored
  particularly to a particular type of product.

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6. Vehicle insurance

• Vehicle insurance is the insurance purchased for
  the cars, trucks, motorcycles, other road
  vehicles. The particular terms of vehicle
  insurance alters with legal regulations in every
  region. If company vehicles have used, those
  vehicles should be adequately insured to protect
  against liability if an accident should occur. If
  workers are using their cars for business
  purpose, their personal insurance will cover them
  in the event of an accident.

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7. Business interruption insurance

• Business interruption insurance is also called as
  business income insurance and covers the loss of
  revenue that the company suffers in a disaster.
  The loss of income in the claim can be due to the
  disaster-related closing of the enterprise
  ability or due to the rebuilding process after
  the catastrophe. Business interruption insurance
  compensates the company for its lost income
  during these situations.
• FastCollab is a Marketplace for all your Business
  Services supported by All-In-One Platform. At
  FastCollabs Marketplace, companies can raise a
  request to book any kind of insurance which can
  be fulfilled through various high quality service
  providers we bring on to the platform. Customers
  can save huge money by receiving competitive
  quotes and choose from multiple vendors.

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Thanking You

• BY
• FAST COLLAB
• http//www.fastcollab.com/