What Types of Business Insurance Are Available in Poland?
Businesses in Poland can choose from various insurance policies, depending on their industry, risk exposure, and legal requirements. The most common types of business insurance include:
• Third-Party Liability Insurance (OC for Businesses) – Covers damages caused to clients, business partners, or third parties due to company activities. This insurance is essential for service providers, manufacturers, and businesses dealing with the public.
• Property Insurance – Protects company assets, such as buildings, equipment, and inventory, against fire, theft, vandalism, and natural disasters.
• Business Interruption Insurance – Compensates for financial losses when business operations are halted due to unforeseen events, such as fire or equipment breakdown.
• Professional Indemnity Insurance (OC for Professionals) – Required for certain professions, such as lawyers, doctors, and consultants, this insurance covers legal costs and damages in case of professional errors or negligence.
• Employer’s Liability Insurance – Covers costs related to workplace accidents, employee injuries, and employer liabilities under labor law.
• Cyber Insurance – Protects against cyberattacks, data breaches, and IT-related damages, which are increasingly relevant for businesses handling customer data.
• Credit Insurance – Helps companies protect against losses due to unpaid invoices or insolvency of business partners.
Is Business Insurance Mandatory in Poland?
Some types of business insurance are legally required in Poland, while others are optional but highly recommended. Mandatory insurance includes:
• Third-party liability insurance for certain professions – Lawyers, doctors, architects, and real estate agents must have professional indemnity insurance.
• Employer’s liability insurance – Required if the company hires employees.
• Vehicle insurance (OC for company cars) – If a business owns vehicles, third-party liability insurance is mandatory.
Other types of insurance, such as property insurance and business interruption insurance, are optional but can prevent significant financial losses in case of unforeseen incidents.
What Are the Common Mistakes When Choosing Business Insurance?
Many business owners in Poland make mistakes when selecting insurance, which can lead to financial difficulties in the future. The most common errors include:
• Underestimating risk exposure – Some businesses choose minimal coverage to save money, only to realize later that their policy does not cover essential risks.
• Not reading policy exclusions – Certain insurance policies contain exclusions that may limit coverage in critical situations.
• Failing to update insurance coverage – As businesses grow, their insurance needs change. A policy that was sufficient in the past may no longer provide adequate protection.
• Not comparing multiple offers – Different insurers provide different coverage options and premiums, so it is essential to review multiple offers before selecting a policy.
• Handling claims without expert support – Many businesses struggle with claim settlements due to a lack of knowledge about policy terms and legal procedures.
How Can an Insurance Broker Help?
An insurance broker can assist businesses in Poland by:
• Assessing business risks and recommending appropriate insurance coverage
• Comparing offers from multiple insurers to find the best protection at competitive rates
• Explaining policy terms, conditions, and exclusions to avoid surprises
• Negotiating better coverage and premium rates on behalf of the business
• Providing support in case of insurance claims to ensure fair compensation
With expert guidance, business owners can ensure they have the right insurance coverage to protect their company from financial risks and legal liabilities. Working with an insurance broker simplifies the process and helps businesses focus on growth without worrying about unexpected losses.
