Property & Casualty
It goes without saying that buildings and property must be insured, but does your business have the appropriate additional coverage? Utilize our expertise to regularly tender your insurance policies, ensuring that you get the best tailored coverage and prices. Below is an overview of typical coverages for property and assets.
A building insurance policy covers, among other things, fire, water, and natural damages. Well-maintained buildings with good security measures achieve lower premiums.
Insurance coverage for assets includes all of the company's machinery, equipment, goods, and furnishings. Your business should have considered whether there are any machines or equipment that are particularly important for operations. There may be a need to expand the insurance coverage to include more types of damage.
Especially important machines
A machine insurance policy will cover more types of damage than a regular property insurance policy. For example internal damages such as mechanical failure not caused by external factors. Such coverage may also be relevant if the machine is used outside the company's premises.
We recommend having extended insurance coverage that specifically covers expensive individual items, such as art, and costly laptops that are naturally taken outside of the office address. The reason is that valuable item insurance policies cover more types of damage than a regular insurance policy. When there is a need to insure art collections, there are special insurance products that are specifically tailored to this. The art will also be covered when it is borrowed or sent for restoration.
A business liability insurance, also called general liability insurance, covers your company's legal liability for damages.
Legal liability refers to liability that can be imposed by the courts. Negligence is the minimum requirement. A business liability insurance helps your company to manage claims for damages, and covers legal costs and legal assistance.
Serving on a board is a lucrative position for many. You get to help decide the direction of the company, be where the action is. But did you know that it is one of the riskiest things you can do? All the decisions you make, even the ones you disagree with, can result in personal financial ruin for you.
Professional liability insurance is required for anyone who provides advice in one form or another. Lawyers, accountants, fund managers, etc. It is characterised by covering financial losses incurred by the customer/client. If your business provides bad advice that results in a customer or client incurring a financial loss, your business can have this loss covered.
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