Since few years, Hong Kong and Shanghai area have become new technology centers with the development and rise of numbers of Startup companies.

Startup and technology companies are facing what we could call “traditional consulting company liability risks”. But also new kind of risks which reside in their vulnerability to their data and technology.

Further to traditional Professional Liability, has been developed Cyber Insurance to protect those business.

Besides this, here are a set of cover that shall study any Startup or Technology Company to limit their risks.

Startup Insurance

Property All Risks Insurance

Property All Risks

Property All Risks Insurance is one of the most basic insurance policy. It is designed to cover your tangible assets from accidents.

It essential to protect your premises, equipment, inventory and vehicles against accidents or risks to your business.

You can also get extension to cover typhoon or earthquake in certain country.

Business Interruption Insurance

Business Interruption

It comes in addition to Property All Risks and/or Machinery Breakdown Insurances.

Business Interruption policy cover the company when facing a downturn often long resulting in significant financial consequences.

The policy allows the company to offset the impact of lower revenue and covering the fixed charges (depreciation, taxes, rent, staff salaries , loan interest …).

This insurance will also help the company to incur extraordinary costs consequential loss.

Public Liability Insurance

Public Liability

Public Liability Insurance covers any injury to property and persons that happens within your place of business.

It protects your company for the risks but also covers your legal expenses in the face of lawsuits.

It is most of the time extended to your employees liability when their jobs brings them out of your premises.

Employer Liability Insurance

Employer's Liability

Employer’s Liability Insurance Policy covers the liability of employers for injury and disease caused to their employees at work.

Depending on the country where your business is located, the law will imposes duties on employers to protect their employees and third party in the workplace.

Breaching this responsibility which is resulting to injury or disease to an employe can be a criminal offense.

Professional Liability Insurance

Professional Indemnity

Professional Liability Insurance covers the professional against the legal liability to compensate any persons who may have suffered monetary loss as a result of their own professional mistake or that of their employees.

Professional Liability insurance was historically restricted to few professions like solicitors, accountants, doctors, architects and engineers but it is now extended to other professions like advisers and consultants.

Cyber Insurance

Cyber Insurance brings protection to risks involved to information technology infrastructure and activities. Those risks cannot be included in a traditional Commercial General Liability Insurance (CGL).

It covers financial consequences to the company and its third party liability in case of data destruction, hacking, service attacks but also may covers their Errors & Omissions.

Directors and Officers Liability Insurance

Directors & Officers Liability

Directors’ and Officers’ Liability Insurance (D&O) is a coverage that aim to protect personal property and liability of directors, managers and executives, for claims related to their actions or decisions taken in the course of their duties .

If at the origin this type of policy were dedicated to D&O of large company to protect them against claims from their shareholder, more and more D&O of SMEs are now considering those policies to protect themselves against risk of their functions.

Employees Benefits

Employees Benefits

Employee Benefits (EB) are getting more and more attention in Asia where business environment is very competitive.

It includes Accident insurance, Group Medical insurance, Term Life insurance, Critical Illness insurance, hospitalization allowance and maternity.

Those benefits can be extended to your employee’s family.

Fidelity Guarantee Insurance

Fidelity Guarantee

Fidelity Guarantee Insurance is most often sought by companies where employees are constantly exposed to cash, stocks or other assets.

The coverage has been designed to indemnify the Company for the loss of money/stock/assets sustained as a direct result of acts of fraud, theft or dishonesty by one of its staff.