To protect you and your company and minimise risk, it is critical you research and implement the right insurance.
Certain insurance is mandatory and others will depend on the type of business you are operating. As a startup, you should be addressing the fundamental needs exclusively. Basic coverage for business property safeguards against incidents such as petty theft, while public liability insurance protects against situations like slip and fall accidents, through to professional indemnity which protects your business from recommendations that may not favour your customers' or clients' needs.
Key insurances to consider
When considering the types of insurance that a startup needs, you will need to start by considering the basics:
Other factors
Compulsory insurances
Australia
Mandatory insurance includes workers compensation. This is a form of insurance payment to employees if they are injured at work or become sick due to their work. Employers in each state or territory have to take out workers' compensation insurance to cover themselves and their employees.
Workers compensation includes payments to employees to cover their:
Workers compensation is governed by individual states and territories, and each state and territory has its own regulator that administers and gives advice.
Contact the workers compensation regulator in your state or territory:
Other countries’ compulsory insurance
This list is not comprehensive of every country
This resource, and any guidance within it, must not be relied on as legal advice. We recommend that you seek professional advice to deliver an outcome best suited to your specific situation.
To protect you and your company and minimise risk, it is critical you research and implement the right insurance.
Certain insurance is mandatory and others will depend on the type of business you are operating. As a startup, you should be addressing the fundamental needs exclusively. Basic coverage for business property safeguards against incidents such as petty theft, while public liability insurance protects against situations like slip and fall accidents, through to professional indemnity which protects your business from recommendations that may not favour your customers' or clients' needs.
Key insurances to consider
When considering the types of insurance that a startup needs, you will need to start by considering the basics:
Other factors
Compulsory insurances
Australia
Mandatory insurance includes workers compensation. This is a form of insurance payment to employees if they are injured at work or become sick due to their work. Employers in each state or territory have to take out workers' compensation insurance to cover themselves and their employees.
Workers compensation includes payments to employees to cover their:
Workers compensation is governed by individual states and territories, and each state and territory has its own regulator that administers and gives advice.
Contact the workers compensation regulator in your state or territory:
Other countries’ compulsory insurance
This list is not comprehensive of every country
This resource, and any guidance within it, must not be relied on as legal advice. We recommend that you seek professional advice to deliver an outcome best suited to your specific situation.
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