In Luxembourg, professional insurances are essential for covering the risks inherent to each activity. The legal obligation encompasses:
- contribution to the joint social security centre (CCSS) for health coverage, workplace accidents and employee retirement, as well as,
- civil liability insurance for company vehicles
- compulsory civil liability insurance for certain sectors (lawyers, health professionals, architects, etc.)
However, it is recommended to opt for more comprehensive additional guarantees depending on the specificities of your business.
We offer solutions adapted to each type of business, whether you are self-employed, an SME or a large company. Discover how to protect yourself, your employees and your activity.
Professional insurance is insurance that aims to protect you, your employees and your company in the context of difficulties related with your activity.
There are different types of insurance, and given the uniqueness of each situation, your insurance contract must be able to adapt to better cover the risks you face in your professional activity.
In Luxembourg, two main insurance obligations are imposed on companies. The first is to contribute to the joint social security centre (CCSS), which covers employees for illness, workplace accidents and retirement pensions. The second obligation concerns insurance of company vehicles. All vehicles used for professional purposes must be insured, at the minimum, for Civil Liability.
Other insurance obligations may apply depending on the nature of the company’s activity. For example, certain regulated professions, such as medical or legal professions, must take out professional liability insurance. This insurance covers damaged caused to third parties during exercise of the activity.
It must be noted that non-compliance with these obligations may lead to criminal penalties.
Professional liability insurance is designed to protect you against claims for compensation from third parties injured due to errors or omissions committed during the exercise of your activity.
Yes, professional liability insurance is obligatory in the context of undertaking certain activities, for example, estate agent, lawyer, notary, accountant, etc.
Read our article on professional liability insurance to find out more.
Whether you are self-employed or a business manager, two solutions are available to you.
As a self-employed person or business manager, you can establish a supplementary pension by contributing to the RCPI – the self-employed supplementary pension system.
This involves building capital available to you when you retire, an income in case of incapacity for work or even a death benefit, while benefitting from tax deductions.
As a business manager, you can offer your employees a supplementary pension and retirement system.