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Liability insurance [Haftpflichtversicherungen] (excerpt)
Corporate liability insurance [Betriebliche Haftpflichtversicherung]
This covers damage to property, injury to persons and/or damage caused to third parties by the company itself or its employees. If someone slips on the wet floor in your restaurant and hurts themselves, they can, for example, claim for damages.
Professional liability insurance [Berufshaftpflichtversicherung]
Protection against third party claims for damages resulting from the exercise of one’s profession. In addition to injury to persons and damage to property, it also covers damages that are purely financial in nature as well as errors in fulfilling contractual obligations which are often not covered by corporate liability insurance. This insurance is compulsory for some industries.
Third-party financial loss liability insurance [Vermögensschaden-Haftpflichtversicherung]
Protection against third party claims for financial loss such as poor advice or programming errors. Often integrated into professional liability insurance.
D&O (Directors-and-Officers) insurance
Financial loss insurance for the management of limited liability companies, for example.
Product liability insurance [Produkthaftpflichtversicherung]
Covers the liability risk for injuries or damages to third parties arising from the production and sale of products and services, for example in the food industry. Whether the manufacturer or merchant is at fault is not relevant. Coverage can be extended to financial losses. It is usually offered in combination with corporate liability insurance.
Statutory accident insurance [Gesetzliche Unfallversicherung über Berufsgenossenschaften]
Statutory accident insurance is one of five mandatory insurances within the German social security system. It covers accidents at work or on the way to or from work, and recognised occupational illnesses. This insurance may be compulsory for the entrepreneur. It is always compulsory if you employ people. The German Social Accident Insurance Institutions [Berufsgenossenschaften] are organised according to sectors. An entrepreneur founding a new business in Germany must register it within one week with the responsible Social Accident Insurance Institution. If you are unsure which Social Accident Insurance Institution is responsible for you, please either contact one of the institutions directly, or dial the toll-free phone number 0800 60 50 40 4 or send an E-Mail to obtain further information.
Information and consulting
Business start-up portal of the Federal Ministry for Economic Affairswww.existenzgruender.de
Bund versicherter Unternehmer e.V. (industry association)www.bund-versicherter-unternehmer.de
German Insurance Association [Gesamtverband der Deutschen Versicherungswirtschaft] – insurance company searchwww.gdv.de
Social Accident Insurance Institutionwww.dguv.de