4 Main Type of Corporate Insurance Singapore

corporate insurance singapore

Corporate insurance is also referred to as business insurance, which is a kind of insurance which is to protect business from the losses due to the fact that some unexpected events happen during the process of business operation. Sometimes, buying corporate insurance singapore may help you win a big client. Sometimes, failing to hold corporate isnurance may cause you lose the chance to make a deal with your a big company. This is why the first type of corporate insurance come in.

General liability

In some situation, you may have to make concessions during the process of negotiation due to fail to hold general liability. Because it can protect the property damage and bodily injury which your products or services, your employees or you cause to the third party. When doing business, some companies will require you to show a proof of general liability insurance before they build business relationship with you. From this point, if you don't want to lose the potential business opportunities, do not hesitate to pay general liability.

Professional liability

Professional liability work like general liability, which protect the company against claims from clients' negligence and errors. However, the biggest feature of this type of corporate insurance singapore is that it can provide professional services for the event of negligence. Ans different states have different requirements towards corporates. Some states may require corporates to hold professional liability, some may not. But if your business has fall into these line like healthcare, consulting, accounting finance and law insurance, then you have to buy professional liability.

Property insurance

Needless to say, doing business can not without office space. Regardless of your office space value or not, once there is an event like fire, theft, vandalism and etc. happen to your office space, you will receive the compensation for the loss of damage of corporate property if you hold property insurance. On top of that, these things like computer, printers, photocopiers and fax machines and other office equipments should consider into an investment in property insurance.

Directors and officers insurance

Directors and officers insurance also called D&O. This type of corporate insurance singapore protect directors and officers from claim of mismanagement of corporate affairs. The most important is that it can extend to defense costs arising out of criminal and regulatory investigations or trials. Not only it is good for those directors and officers who work in public corporates, but also those directors and officers who work in privare corporates can get benefits from directors and officers insurance.