Starting a new business and exploring new market is always challenging, pursuing new opportunities exciting, but also fraught with risks. When you shift these activities into foreign markets, unfortunately, at some point it’s inevitable you’ll experience unforeseen problems. When you suddenly find yourself caught up in unpleasant commercial legalities, which can be difficult enough to navigate in your native country, in unfamiliar territory it is much worse, quickly snowballing into a catastrophe.
Even businesses who are well-established and have a highly qualified legal team at their disposal get nervous at the prospect of dealing with complex German and EC regulations. The usual employee responsibilities like health and safety, plus transport, ecology and other generic necessities turn alien.
Enlisting the services of an experienced insurance professional to steer you through the complex regulations is paramount; an expert who is proficient and will protect your assets. An insurance specialist who is familiar with the area is the same as having a local legal representative on side for a local dispute. They know their territory and understand the risks.
Checklists are an invaluable guide. All good insurance professionals should provide one similar to this:
- To first analyse the company’s circumstances and identify potential risks.
- Devise a risk management plan specific to the clients needs; standard protocols don’t always serve businesses who offer unique products or services.
- Routine checks to monitor that set protocols are effective in anticipating and dealing with changing risks, both internal and external to the company.
- Fast, efficient and easy-to-understand assistance when dealing with claims. Delays very quickly lead to insolvency in Germany!
- A single point of contact who’s competent in dealing with company pension plans, insurance, and financial matters.
- Cross-border and international expertise for solving problems regarding healthcare plans and other employee benefits.
- Global 24/7 cover for staff and management against liability and compensation claims, plus illness, disability, accidents and death. An emergency hotline while travelling for business.
- Help with translation.
Not only does Germany have the fourth strongest economy globally, it is Europe’s largest, with a committed, highly skilled workforce. Having a reliable insurance specialist by your side means you get to do what you do best: run a successful business.