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Can I purchase Public Liability insurance if I have not yet registered my business? (small rental office)
If you are attempting to purchase public liability insurance for a company which is not yet registered you will be able to receive an indicative quotation on the coverage, but will not be able to formally bind a policy without a Business Registration Certificate (BRC).
Hong Kong Insurance Companies require full disclosure of all relevant information about a company’s operations when providing public liability insurance coverage. This includes the company’s registration status in Hong Kong, its primary industry, and its estimated annual revenues – additional information may be required upon application depending on the insurance provider offering the coverage.
Unfortunately, without having registered the business it will not normally be possible to receive coverage for public liability concerns, the excepting being with regards to specialist Event Insurance products which can be obtained on an individual basis for the coverage of a specific event or gathering. It may be possible, however, for the general insurance brokers at CCW Global to give you an indicative quotation for what you may expect in terms of premium and coverage when your business is registered.
Finally, if you do not have a registered business you may not actually require public liability coverage as you are not exposed to the general public.
Answered on: 31 March, 2017 14:44
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