Commercial Insurance
To put it simply, commercial insurance is insurance that protects businesses. It covers businesses against losses, arising from things like damage to property or injury to employees, and is a term commonly used to label core business insurance covers like public liability and employers’ liability.
Some examples of commercial lines insurance are:
- Business Liability Insurance
- Commercial Auto Insurance
- Commercial Property Insurance
- Fire Business Interruption Insurance
- Goods in Transit Insurance
- Money Insurance
- Fidelity Guarantee Insurance
- Burglary / Theft Insurance
Consider this, ABC Sdn Bhd, a T-shirt printing company received a large order from a long-standing customer for the customer’s 20th anniversary celebration. Unfortunately, a fire broke out at ABC’s premise and destroyed all its machinery and equipment overnight. ABC suffered a direct loss which is its machinery; but the indirect losses are even greater, as the company cannot produce any T-shirts, still need to pay for the worker’s salaries and service the mortgage, and may even lose its customer from failing to deliver on its obligations.
So, what insurance do I need for my business? We hear this question often, but there’s not a simple answer. That’s because the types of business insurance coverage that you need for your business depends on what your company does and the industry you are in.
Click here to find out how we can help protect your business.
