What risks must a company insure?
Social insurance schemes, such as OASI/DI and unemployment insurance, are compulsory, as are accident insurance and occupational pensions pursuant to OPA. In certain sectors where there are high levels of potential risk, public liability insurance is also required.
Other insurance that is voluntary, but in many cases recommended, includes illness daily allowance insurance and business property insurance, which covers losses and damage to business assets, such as goods, facilities or machinery, caused by fire, water or theft.
For many companies, cyber-risks are nowadays the main business risks. This applies not only for companies who conduct their business online, but for all companies – if cyber-criminals steal data, install malware on systems or take down servers, companies can face losses totalling millions, damage to their reputation and even disruptions to their business that could place their existence at risk.