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Anonymous

14 Jan 2022

Insurance

What insurance is important for a tech startup?

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  • Directors and Officers Liability Insurance: Most VCs will require this as part of any investment. Even if you don't raise funding, you'll want to have this to protect the founding team and other executives.
  • Professional Indemnity Insurance: Many clients, especially larger ones like MNCs, often require this as part of contracts that get awarded.
  • Workmen Compensation Insurance: You'll need this to protect your employees.
  • Company Health Insurance: Good to have benefit. You'll find this especially useful when recruiting talent, particularly when trying to attract senior executives from MNCs who may often already have this benefit.
  • Business Insurance Package: If you're renting an office, this will be a simple, all-in-one cover that will protect your office from risks like fire. Also provides public liability coverage to protect you from liability, e.g. if clients come into your office and slip and fall.

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