Hong Kong Business Insurance
If you’re situated in one of the largest business hubs in Asia, then you are probably looking for a quality company insurance package that will safeguard your business and help retain and attract employees to your firm. Pacific Prime is well equipped to consult and deliver premium business insurance to companies based in Hong Kong with our 20 years of experience in the field.
Get a quote from our team of experts to upgrade your company insurance plan and boost employee engagement in your firm today!
Where do I find the best business insurance plans?
Business insurance can be hard to come by for startups and SMEs. This is because the most comprehensive plans are catered for large conglomerates, leaving startups and SMEs with sub-par plans that are not worth their investment.
Big businesses, on the other hand, face the opposite problem. With so many packages available on the market, making the decision to invest in the right plan for your business can be difficult. Business insurance plans require rigorous benchmarking to ensure maximum return on investment. Without experienced veterans who specialize in company insurance, this policy benchmarking can be timely, costly, and inaccurate.
With Pacific Prime’s guidance, you will be able to leverage our innovative quoting tool to find the best startup, small business, and large corporation insurance that truly addresses your needs.
What are the main types of company insurance solutions?
1. Group health insurance
A quality group health insurance package is among one of the strongest pull factors when it comes to attracting and retaining employees in any company. By delivering health insurance packages that are superior to your competitors, you’ll be able to attract the best talents in Hong Kong to your firm.
Group health insurance benefits can include:
Pre-existing medical conditions treatments
2. Group life insurance
Group life insurance policies will provide a monetary settlement to employees who have been critically injured or have passed away. This type of insurance is not very common in Hong Kong, but there are plans available nonetheless. Offering group life insurance to employees will make your business stand out from the rest of the crowd, helping you secure top level talents from around the world.
3. Employee’s compensation insurance
All businesses operating in Hong Kong are required to offer Employee Compensation (EC) insurance. EC insurance provides coverage in cases where employees suffer an injury resulting from an accident or during the course of their job.
For instance, if an employee in your company suffers from a workplace accident, it makes your business liable to any financial compensation for that employee. With EC insurance, your business and your employee will be protected from these liabilities.
4. Professional indemnity insurance
Businesses in Hong Kong are not required to provide professional indemnity insurance, however, most firms in Hong Kong can still benefit from professional indemnity insurance. This type of insurance will protect your company against claims from clients that arise from the failure of your employees to adequately carry out their duties.
5. Property insurance
Replacing office assets can be costly for your firm. With property insurance, you’ll be able to ensure that your staff are equipped with the right office tools, so that they can deliver quality services to your clients. Property insurance will protect both your business’ building and the contents within it against unforeseen damages.
6. Group travel and accident insurance
Traveling to meet potential clients and business partners can incur unexpected costs for your firm, especially if an accident occurs. With group travel and accident policies, your business will be covered against any travel or accident-related costs.
7. Cyber insurance
Business insurance packages are always evolving. Today, cyber insurance is extremely important regardless of the size of your firm. Cyber risks can occur from both outside and inside of your business, posing significant threats to your business’ private data. A cyber insurance plan will safeguard your company from cyber-related losses that may occur down the line.
How do I design and implement the right company insurance solution?
There are many moving parts involved in designing and implementing the right company insurance solution for your business. The key takeaway is that a company insurance solution should address the company’s risks holistically. This means that for each significant risk your company faces, the company insurance solution should address.
Check out Pacific Prime’s School Insurance Guide for deeper insights and examples on designing and implementing company insurance solutions.
How do I find the best business insurance broker in Hong Kong?
When choosing the best business insurance broker in Hong Kong, there are three factors you should be accessing.
The broker’s experience - does the broker have extensive experience in delivering company insurance solutions to clients?
The broker’s relationship with insurers - how many insurers does the broker work with?
The broker’s consulting approach - how comprehensive is the broker’s consultation approach?
By choosing Pacific Prime, you’ll be working alongside industry experts with over two decades of experience that have successfully delivered competitive business insurance plans to over 4,000 companies around the globe. We also work with 60 of the world’s more reputable global insurers, including Bupa, Aetna, AXA, and Cigna.
Finally, our consultation approach is designed to empower your business with the industry know-how of choosing the right company insurance for your firm. Our consultation session includes market intelligence, risk assessment, legal and compliance, global offices, claims analysis, and much more.
To get the best company insurance in Hong Kong, click the below button to receive a free plan comparison and quote today.