As someone who runs a business, a key investment is in insurance coverage for your company. Business insurance is designed to protect your business from losses that may occur due to a variety of unforeseen circumstances. In this article, learn more about what business insurance is and where you can buy it to get a good deal.
What Exactly Is Business Insurance?
Business insurance is a type of coverage that is designed to protect businesses from losses that can occur due to unexpected events or circumstances.
During the pandemic years, many people decided to move out of the big city to get away from large numbers of people and to change their lifestyle for good. You may have decided to follow that lead and considered setting up a small business that may help you live off the land. Even if you only intend to set up what's known as a "hobby" farm, you still need to look at costs, longevity and exposure.
Whether you are an employer or an employee, workers compensation insurance is a critical consideration in every workplace. Workers compensation refers to insurance that covers medical and rehabilitation costs as well as lost wages for employees injured at the workplace. It is a requirement by law that all employers ensure that their employees are covered against work-related injuries.
In Australia, workers compensation is regulated by the state government. In Tasmania, Western Australia and Northern Territory, insurers underwrite the scheme.
