1

Self-employment

2

Review your business idea

3

Prepare a business plan

4

Financing & public support

5

Business or liberal profession

6

Legal structure

7

Taxes & Accounting

8

Company insurance

9

Social insurance

10

Networks & contacts

Company insurance

Company insurance can protect you from financial risks that, if left uncovered, could quickly threaten your livelihood. In order to find the insurance coverage that’s right for you, you should consider what the typical risks of your industry are and what insurance options are available.

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 (e.g. poor advice, programming error). 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 (e.g. 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]

This insurance is compulsory if you employ people. Covers accidents at work or on the way to or from work, and recognised occupational illnesses. This insurance may also be compulsory for the entrepreneur.

Information and consulting

Business start-up portal of the Federal Ministry for Economic Affairs

www.existenzgruender.de

Bund versicherter Unternehmer e.V. (industry association)

www.bund-versicherter-unternehmer.de

German Insurance Association [Gesamtverband der Deutschen Versicherungswirtschaft] – insurance company search

www.gdv.de

Institutions for statutory accident insurance and prevention

www.dguv.de