Compulsory, necessary and advisory insurances
As an employer, you will need to provide compulsory accident insurance and a pension scheme for your employees. To protect the company from having to pay the salaries of employees who can’t work due to illness, we recommend you take out an insurance policy to cover this potential liability.
As the owner of a sole trader company, such insurances are still compulsory for your employees but you yourself are not automatically included. We recommend you take out voluntary insurance to protect yourself.
Do you have any key employees? Businesses often depend to a large degree on the skills and experience of certain key individuals. If one of your key people died suddenly or suffered a critical illness, you may have to hire in a more expensive replacement or extend the project period due to training needs, with potential cashflow effects. If they were also a partner or shareholder you may also have to pay out large sums to their dependents unexpectedly, or even give up control of the business. We can recommend appropriate life insurance solutions to protect your company from the financial costs of such losses.
The company will also need company goods and liability insurances.
For all these insurances, there are various products available from banks and insurance companies. Grether MacGeorge GmbH helps you work out your company’s needs, gets quotes for you, evaluates the best solutions, and helps with the application forms and subsequent paperwork to ensure you have exactly the cover you need from both the legal and business point of view.