Business insurance is a critical component of risk management for companies operating in Poland. While some forms of insurance are optional, others are mandated by law to ensure the protection of businesses, their employees, and the general public. Liability Insurance mandated by law is called OC - “odpowiedzialność cywilna” in Polish which is the bare minimum for successful and low-risk operation in Poland.
Having appropriate third party liability insurance is not only a legal requirement, but also an important element of risk protection for many types of business activity in Poland. Entrepreneurs should carefully review applicable regulations and ensure that their businesses are adequately insured to avoid potential claims and financial losses if any accident would occur including IT, Retail and Manufacturing sectors.
Attitude towards insurance in Poland is different than in Finland. In Poland, insurances for the workers and liability insurances are mandated and taken very seriously while in Finland, companies usually have only Liability Insurance, that covers everything - worker’s safety, machinery, damage to third parties and similar. As Finland has a very strong social security system, companies are not worried about getting sued by workers after an accident as social security will take care of the workers in the best possible manner. Meanwhile in Poland, if the company does not have Liability and Employee Insurance, the company is at high risk being sued if an accident occurs From our experience, it is always worth two have at least two insurances - Liability Insurance (OC in Polish) and Employees Group Insurance (called Ubezpieczenie Grupowe Pracowników).
How to find a suitable and well-tailored Liability Insurance as a new business in Poland?
There are 58 insurance companies operating in Poland, so it is very time consuming, stressful and inefficient to contact each and every one in a search for a tailored solution. Consultation with a Financial Advisor can help you select appropriate insurance policies tailored to the specific nature of your business and keep your company safe. Our Partner, Financial Advisor Jaan Popov, will take care of all of your insurance needs in five languages and a personal tailored approach to your specific needs. Apart from Polish and English languages, he provides service in Finnish as well. Let him take care of you and free you from long, stressful and mundane search for insurance.
Stay insured and stay ahead!
Poland Business Insights Team
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