Entrepreneurs need to take the right steps to avoid unnecessary losses in their business. As a business owner, you will be constantly exposed to risks from different directions. Protecting yourself with the right commercial insurance in Singapore is essential to prevent your business from crashing and burn as soon as it begins.
At Accord Insurance, we offer you the expertise and coverage your business needs. Get business insurance in Singapore from us to protect your company assets at a lower cost, and to get protection against business risk such as:
In Addition, we also provide performance bonds in Singapore, which ensure you the payment of a substantial sum of money in case the contractor fails in the full performance of the contract. For more information, don’t hesitate to contact us
A corporation is a complex business, with a number of different liability risks. Running a corporation means that you will have to cater to the needs of many employees and make sure that they have a decent place to work in. The board of directors of the corporation is responsible for making all important decisions and will have a major impact on the overall functionality of the corporation itself.
However, the board of directors won’t be held personally liable in case anything goes wrong. It will be the corporation, which is treated as an artificial person by the law, which would be held liable. It’s the corporation that is liable for profits made or losses sustained in the markets. Therefore, if a disgruntled employee decides to sue the corporation, the charge will be held against the corporation, and not against the board of directors or the owner of the corporation itself. It doesn’t matter what kind of product you sell, purchasing a corporate insurance policy is an absolute must. At Accord Insurance Agency, we will help you find the best possible insurance policy for your corporation.
Do You Own a Small Business?
If you own a small business, you should seriously consider buying a corporate insurance policy. Small businesses generally have very little profit margins, and most of the working capital is tied up in fulfilling the orders of different clients. A small business is like a baby. It requires all of your attention if you want it to grow. The absolute worst thing that can happen to your business is if somebody files a liability claim and you have to pay a small fortune in litigation. It’s a major setback, and most businesses virtually never recover from such a big financial outlay at such an early stage.
Do You Run Your Business from Home?
If you run your business from home, it will still be classified as a registered entity, and the room from which the business is run will be regarded as the office. Again, if something happens to you, your business will come to a stop immediately. Having corporate insurance at least provides the certainty that there will be a significant financial cushion for your family.
Keeping Your Employees Safe
Another major reason why you should get a corporate insurance policy is because it helps keep your employees safe. In case there’s an incident in the workplace, work injury compensation can be hefty, but the corporate insurance policy will cover the costs of treatment for any employee. Before calculating the insurance premium, we will require details of the number of employees working in the business as well as the nature of your business.
Corporate Risk Management
The insurance premium is calculated after considering all risk factors that your business is exposed to. To calculate the insurance premium, we employ professional risk management teams. Here are some important things that you should know about our risk assessment teams:
The corporate insurance policy from Accord Insurance is designed to give business owners mental relaxation so that they can focus on what matters most: growing your business. The insurance policy will cover any sort of liability for your business (as long as it falls in the coverage) and allow you to avoid making any unnecessary losses.
For any prudent business man, it’s important that you purchase a corporate insurance product. With Accord Insurance, you will have certainty that we are always available in case a claim arises. We will be there to guide you in filing a claim and make sure that it gets settled as quickly as possible.
Why Accord Insurance?
Working with some of the best insurance companies and leading risk advisors in Singapore, Accord Insurance has a strong reputation in the country. We are very proactive when it comes to settling claims. If you are willing to trust us with your business, let us reassure you that we will be there in your time of need. If you want to know about our insurance policies or wish to apply, contact us today.