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Commercial legal expenses insurance in Switzerland
When you run a business, you deal with plenty of people every day: customers, suppliers, competitors, employees, tenants and so on. Unfortunately, the more interactions with people, the greater the likelihood of a dispute. In business, disputes can very quickly end up in court and incur serious expenses. It’s an unnecessary distraction that keeps you from focusing on what’s most important – running your business.
You should also keep in mind that in Switzerland, you must pay litigation and court fees in advance if you want to sue someone. These costs are usually much higher than the lawyer’s fees. Because of this rule, many companies avoid taking the official court route, even if the law is evidently on their side.
Even if you win the court case, it does not mean you will quickly recover all money spent and receive adjudicated benefits. If you were the one to file a lawsuit, you have to arrange for reimbursement.
There is only one sensible protection against all that risks – commercial legal expenses insurance. If you have such coverage and find yourself in a situation where going to court is the best option, you don’t need to worry about not getting any benefits despite winning the dispute. Should the opposing party be unwilling to pay, the insurance company will handle the risk for a really low premium compared to potential costs.
When your business involves property management, you need coverage for any tenant issues. If, for some reason, they refuse to pay rent or damage the property, you need someone to advise you and stand by your side.
Contracts are an integral part of any business activity, whether it’s employment, rental, sales or production agreement. Failure to comply with contract provisions can lead to serious financial consequences. If you purchase supplemental contract law insurance, you will obtain comprehensive support in disputes against customers, employees or suppliers.
Unpaid invoices are sadly a part of everyday business life. Sometimes they are merely overlooked, but all too often, a customer simply does not want to settle an invoice by avoiding it or finding a reason to refuse the payment. Entrusting the writ-of-payment proceedings or the initiation of debt recovery to a collection agency can be expensive. In such cases, the costs of required proceedings are covered by insurance.
Internet identity is a make-or-break factor for many companies. You don’t exist if you can’t be found on Google. On the other hand, anyone can write a review on the Internet, not necessarily truthful. Supplemental coverage of personal interests protects against various related risks, including online violations. An insurance company also steps in if you have problems with your website administrator. Likewise, it provides aid in case of unauthorized credit card use online.
This supplemental insurance covers all events related to company vehicles. Among others, it applies to contract law, be it lease agreements or dissatisfaction with the repair of a company car. Insurance also covers the costs of other contracts related to your vehicle fleet. Additionally, it comes in handy when the taxation of vehicles is unclear or legally disputable.
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