There is only one insurance that is strictly compulsory for any business in Hong Kong: employee compensation.
This insurance is provided through basic and simple packages, which also include property all risks of your office/shop if you get a premise and public liability.
Employee compensation covers the liability of an employer for injury caused to their employee at work. It is strictly defined by the Employment Ordinance from the Labour Department. It should cover your employees regardless of their contractual relationship with your company (part-time worker, contractor, sub-contractor, freelancers).
Employee compensation insurance covers costs incurred when insured employees meet with work-related accidents or diseases, such as:
As stated above, employee compensation product insurance is compulsory for all businesses, and it should include Salary+commission+allowances. At the difference with MPF, employee compensation has absolutely no exception.
Employee compensation product insurance matters because:
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