{"id":4804,"date":"2017-01-29T07:50:30","date_gmt":"2017-01-28T23:50:30","guid":{"rendered":"https:\/\/zegal.com\/?p=4804"},"modified":"2024-12-27T17:55:57","modified_gmt":"2024-12-27T09:55:57","slug":"insurance-solutions-startup-hong-kong","status":"publish","type":"post","link":"https:\/\/zegal.com\/en-au\/blog\/post\/insurance-solutions-startup-hong-kong\/","title":{"rendered":"Insurance Solutions to Consider for Your Startup in Hong Kong"},"content":{"rendered":"

You\u2019ve taken the leap and started a new company which you hope will fill your need to do things differently, better or improve the world in some way. With it you are brimming with ideas, drive and motivation \u2013 planning your budget, organising marketing campaigns, hiring staff, looking for office space… This list is almost endless and can be daunting at times. But you press on and check off the endless items from the endless to-do list.<\/p>\n

Read:\u00a0<\/strong>Legal documents every business should have<\/a><\/span><\/em><\/p>\n

In many instances, insurance is perhaps the last thing on the list, but protecting yourself and your company is a vital part of managing the risk inherent in a startup. From the moment you pay for your business licence and begin trading, it doesn\u2019t take much to quickly run into financial trouble and without adequate protection for the business, its assets and yourself, you are left vulnerable. However, despite what many people think, managing the risk through effective cover and protection doesn\u2019t need to cost the earth and can be kept within an affordable budget.<\/p>\n

\"Insurance<\/p>\n

As a startup, you want to be mean and lean with your finances and your operations, to start quickly, harvest the low hanging fruit and build a solid foundation to build upon. To limit your financial exposure with insurance, seeking out a plan with a higher deductible could result in lower monthly premiums and less pressure on your cash flow.<\/p>\n

Below we take a look at the most vital types of insurance that startups in Hong Kong should consider:<\/strong><\/p>\n

\"Zegal<\/a><\/h3>\n

<\/span>Commercial General Liability Or \u201cSlip and Fall\u201d Insurance<\/strong><\/span><\/h3>\n

In layman\u2019s terms Commercial General Liability (CGL) insurance is commonly referred to \u2018slip and fall\u2019 insurance and concerns negligence toward a third party. A CGL policy can actually cover a lot more than this and will extend to cover the majority of property damage and bodily injury caused by your employees or your company.<\/p>\n

Often this is contractually required when you enter into an agreement with a vendor or distributor. In short, this type of insurance is a must for any business.<\/p>\n

Some Examples Of CGL Claims<\/strong><\/p>\n