Making your choice

Discover the most frequently asked Business Insurance questions

What business insurance do I need?

Many business representatives or executives, such as business owners, chief financial officers, or legal advisers ask themselves one question: what business insurance do I need? Well, just what business insurance they do need will depend on the kind of risk they want to cover, or be insured against.


Several insurance products cover the risks related to the equipment necessary for the normal fulfilment of daily operations:

- tool insurance covers the risks related to the loss of tools necessary for production, or to their being stolen or damaged;

- business equipment insurance insures businesses against risks related to the theft of company equipment, or accidental damage to this equipment;

- business contents insurance insures businesses in case material goods owned by the company get lost, stolen or damaged;

- business stock insurance insures policyholders against the accidental damages on the stocks of goods held by the company, or if they are lost or stolen;

- when businesses want to insure goods which they have purchased, but which they have not received yet, goods in transit insurance covers what can happen to the merchandise during shipping.

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If corporate executives wonder what business insurance they do need, in a very broad sense, to insure their customer relations, they can look at credit insurance, which protects them against the insolvency of their clients, or their being unable or unwilling to pay their bills according to terms.


If corporate executives wonder what business insurance they need to cover risks related to third parties, the following can be subscribed:

- in order to be protected against claims following injuries suffered by the employees within a policy holding company, businesses must subscribe an employer’s liability insurance;

- public liability insurance protects businesses against damages suffered by their customers if products become faulty or hazardous;

- professional liability insurance protects businesses against damaging consequences of mistaken recommendations or designs made for a client.


Finally, other policies protect businesses against:

- financial consequences of a business interruption caused by an unfortunate event - business interruption insurance;

- the death or long-term unavailability of a key person or executives in the company, without whom business just can’t go on as usual - key person insurance;

- what may happen during a business trip - business travel insurance.


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