A business insurance package in Hong Kong will give your business the comprehensive protection that it deserves. While similar to an Office package policy, the policy has a broader scope than coverage for a purely office-based risk. As well as core covers, it is possible to have extended coverage for business property, such as machinery and equipment, as well as for Business Interruption.

Lifestyle Insurance can advise on the protection your business needs at every stage of its development, from start-ups to SMEs and larger corporates. As your business grows over time, its protection needs will change, and it’s therefore vital that you have a trusted advisor on hand.

All businesses must have a robust business insurance policy in place. However, in the early stages, many small businesses with only 1 or 2 employees may decide to only meet their statutory obligations by putting Employees’ Compensation and MPF in place. We recommend caution in this approach, and indeed, when you have your premises with a greater investment in business property and the revenue of the business, it is imperative that you transfer the risk to the insurer.

This will be tailored to the business’s needs, such as employee earnings, premises features, profitability, and company-owned property. Standard coverage limits exist for Employees’ Compensation and Public Liability.

This will depend on the size of your business. Larger companies will have more property with bigger premises and more employees and so the premium will go up accordingly.