Your Essential Guide to Business Insurances Required by Indonesia Companies
Business insurance has various advantages, including increased efficiency and protection of the workers. To add to all that, it makes the company seem all the more credible to outsiders.
Knowing where to start in terms of business insurances required may be quite tricky, but that’s what this article is for. Here, you’ll find all the information you need to get the insurance your business needs.
Also, if you’re just starting up, here’s a link to a lot of information about Indonesia company incorporation.
Health Insurance
In Indonesia, every company must offer health insurance to their employees. This is taken in very high regard given that the government has been making many moves to improve healthcare in Indonesia.
Not only does it protect those who work for the company, but it also upholds their rights. Now and then, employees may become ill during work hours or on a workday, and this insurance exists to provide support for them.
Compensation Insurance
Compensation Insurance offers support in the form of medical aid and financial aid in the event of an injury or accident in the workplace.
This insurance protects the employee by assuring that their health and wellbeing are taken care of in the situation of an unfortunate accident.
This also protects the employer from being sued by their employee due to potential negligence if anything happens to them.
Liability Insurance
Liability insurance is another one of the business insurances required by companies in Indonesia. It protects the insured from any liability resulting from damages to other people or property.
From an employer’s point of view, liability insurance ensures that they will receive some form of compensation for any property damage as a result of an accident.
Property Insurance
Property Insurance is for the sole benefit of the employer and the business as a whole. This policy offers compensation during unforeseen accidents such as a fire, tornado, or theft that can damage a building.
Vehicle Insurance
You need to ensure your company vehicle. Doing so will allow you to get compensation in case of theft or accident.
Conclusion
It may seem like a lot, but all of these business insurances required are vital for a company’s success. 3E Accounting is the way to go for any additional business demands you may have in terms of accounting or legal matters. We’re an Indonesian firm that specializes in accounting and legal concerns while keeping their prices low enough for everybody to take advantage of our services. Contact us for more information.
