Branch Office Registration | Bangladesh

The concept of insurance is still very much at its adolescence in Bangladesh along with the South East Asian region in general. Insurance being such an important theme to the safety and security for businesses and society and the impact it can have long term is still not realized to the required level. A big issue may be the understanding of this concept. A lot of people remain under the impression that paying for insurance is not a worth-while investment, because you are not getting returns from it on a regular basis. Some who pay for it might never have to claim insurance.

But this idea does not make insurance a loss-making concept. In fact, insurance is one concept which has repeatedly saved many businesses and individuals from being completely destroyed and provided a second chance. Out of the personal schemes that is life insurance and health/ medical insurance there are also other schemes, which pertain to businesses and employees in businesses, mainly in the form of group insurances. Legal requirements with regards to insurance has also become more and more important these days.

There are some industries where insurance have become must for example in the freight forwarding business, where most cargoes are insured to ensure that if something happens to the goods, the cost of the same can be recovered. This is important because during freight forwarding and travel, the cargo change ownership and are sometimes in unchartered territories. For every plane ticket that is bought the airlines pays a premium to the insurers to ensure that if something goes wrong or there is an accident, they are able to compensate the passengers or their next of kins. Airlines also insure the baggage and the aircrafts as well. Another type of insurance caters to rare objects like artworks and artifacts which are extremely expensive. Other than that the basic car insurance, education insurance etc. are all there.

So, understanding the clauses of insurance and when a claim would be successful is very important. FMCI being a very reliable consulting firm can take care of your total business package from legal issues such as company set up and registrations, labour etc. to your financial requirements such as taxes, VAT, payroll etc. Similarly, FMCI also able to provide the best advice with regards to the necessity of insurance and can also address any insurance related disputes. FMCI and its extremely diligent team has experience in providing such advice.

The best part is with such a diverse and efficient team, FMCI is able to provide tailored advice for any business which will be most appropriate for that particular business in terms of the requirement of insurance, disputes, legal and financial issues.