Protection of company’s property and operational activity

Protection of company’s property and operational activity

Protecting the operational environment of our partners and the place of their value creation is of particular importance that, however, is a very diverse task. The terms and conditions of insurance companies provide a good framework for this task and can be further extended by individual, ad hoc agreements or by the scope of insurance events as well as by elaboration of the terms and conditions. Of course, to develop tailor-made solutions in case of any person or company seems possible only after obtaining accurate knowledge and physical examination of the site, the last one in the majority of the cases makes our work much more efficient in the majority of the cases.

There are two basic types of property insurance,

– The first one relative to the defined risks undertakes to settle damages in the cases fixed in the agreement (typically implies cases of fire and elemental damages);

– The logic of total property insurance (or otherwise, All Risks) system is reversed, apart from pre-determined exceptions, all losses are settled by the insurance company providing the coverage.

During physical examination of the site from the point of insurance besides the normal operation, also matter the construction material of the properties, the method and the year of construction as well as the protection of the site against fire and burglary and damage backgrounds too.

If a machine or an equipment is to be insured not only due to the external impacts, the insurance system can also be extended with detailed list of various breakage insurance, which enables, among other things, the settlement of damage events due to internal breaks or operator error.

When developing the protection of office electrical equipment and computer devices, it should be also considered if the device in question leaves the premises (for example, a laptop), as in this case its protection must be guaranteed outside the premises too.

After ensuring the protection of movable and immovable property, the prudent determination of sums insured, the well-defined classification of assets and the corresponding risk management, it is also necessary to present property insurance methods that can guarantee smooth operation or operation with minimum level of disturbance, if a damage event occurs.

As an example consider the downtime insurance 2 main types of which are known

  • On the one hand, a forced downtime caused by property-damage event (in the life, e.g. due to the firecase an entire production site or a part of it is destroyed that blocks the production itself)
  • On the other hand, in the event of downtime insured due to machine-breakage (i.e if the production line has a point whose failure interrupts the entire production, mainly due to its unresolved replacement).

In these cases, the above method is able to cover (for a predetermined time) the profit loss and the fix costs until the recovery of production.