11 Types of Insurance Every Small Business Needs

| November 2, 2015

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Small businesses particularly need to have extensive insurance coverage more so than large businesses with limited liability. As a small business owner, you will need to provide coverage for your employees in the event of a job-related injury or worker’s compensation coverage should illness or injury strike. A plan may also be tailored to your employee health, benefits and pension needs.

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HCF Australia

At HCF our purpose is to champion our members’ health. From humble beginnings in 1932, to our long-standing position as Australia’s largest not-for-profit health fund, we provide genuine value to our 1.5 million members through health and life insurance, community care, travel and pet insurance. As part of our 2020 vision we are committed to making health care understandable, affordable, high quality and customer centric. We empower our members with the knowledge and information to make informed decisions about their health. Through our HCF Catalyst program we invest in the future of Australia’s health by supporting small businesses with big ideas, and we fund researchers working to improve health outcomes for all Australians, through the HCF Research Foundation.

OTHER ARTICLES

What’s Driving Innovation and Transformation in Insurance?

Article | March 5, 2020

According to Gartner analyst Kimberly Harris-Ferrante, in the report Innovation Insight for Artificial Intelligence in Life and P&C Insurance*, “Adoption and maturity of AI are increasing among insurance early adopters as they test new use cases and technologies. Insurance CIOs can benefit from greater awareness of AI fundamental use cases and the impact of AI to help guide innovation.” At Shift, we couldn’t agree more.

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Can You Get Business Insurance without a Business License?

Article | March 16, 2020

Opening a business brings many questions, and the very fact that you’re interested in learning more about insurance for your company demonstrates your responsibility as an entrepreneur. In most cases, you don’t need to have your business license yet to purchase insurance for your company, which means you can get started on this critical task right away. However, you should know there are certain types of insurance you may be required to carry in order to get or maintain your business license. There are also other types you should obtain to protect you from the consequences of lawsuits or unexpected events down the road.

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Business insurance coverage in the COVID-19 era

Article | April 7, 2020

Businesses globally are reeling from the multiple impacts of COVID-19: lost revenue, expanded workers’ compensation claims, and potential third-party liability, to name a few. As the losses grow and uncertainty continues, businesses are turning to their insurers for coverage. Whether and to what extent coverage will be available will depend on the facts, the science, the law, the policy, and, inevitably, the courts.

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Top Features of an Effective Claims Management System

Article | March 12, 2020

Claims are a critical part of the insurance business. Even if your insurance company is not as big as Axa or Allianz, you need to have an efficient claims management system. Clients’ mindset and expectations are different from what they were 10 years ago. A recent survey called Insurance 2020: The digital prize — taking customer connections to a new level has brought to light some fascinating facts.

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Spotlight

HCF Australia

At HCF our purpose is to champion our members’ health. From humble beginnings in 1932, to our long-standing position as Australia’s largest not-for-profit health fund, we provide genuine value to our 1.5 million members through health and life insurance, community care, travel and pet insurance. As part of our 2020 vision we are committed to making health care understandable, affordable, high quality and customer centric. We empower our members with the knowledge and information to make informed decisions about their health. Through our HCF Catalyst program we invest in the future of Australia’s health by supporting small businesses with big ideas, and we fund researchers working to improve health outcomes for all Australians, through the HCF Research Foundation.

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