Our company serves corporate clients comprehensively. Therefore, we naturally have in our arsenal such type of insurance as property risk insurance. Often the requirement to insure the office comes from the landlord, sometimes these are corporate rules for doing business, and sometimes the objective need to insure expensive property.
This type of insurance is quite simple from the point of view of its administration (in comparison, for example, with the same medical insurance). But from the point of view of workflow, there are a number of features that you need to know when concluding a contract.
Firstly, this is the correct filling out of the insurance application. Depending on the type of property to be insured, the application can be either a shortened form or a detailed one. Description of the main characteristics of the object, its features from the point of view of fire hazard, water supply, protection against attacks by intruders, etc. It is quite important both for the insurance company and for the subsequent insurance service. The more detailed information will be provided in insurance companies, the more fair the tariff can be calculated and the easier it will be at the stage of settlement of the insurance event.
Secondly – this is the insurance contract itself. We are forced to state that 70% of property insurance contracts that we had to deal with, unfortunately, in one way or another give the right to the insurance company not to pay or not fully pay insurance indemnities. The existence of discrepancies, vague wording, which often conceals a possible failure, cross-references, etc. – All this abounds in the contracts of almost any insurance company. Therefore, the importance of contract deduction is difficult to overestimate – this is the minimization of cases in which the insurance company will not be able to pay insurance compensation. But since there is still no ideal contract, the third important step in property insurance is the right choice of an insurance company.
An important role is played by the financial performance of the old company, its reinsurance coverage, its insurance portfolio and other factors. We recommend our clients to take a comprehensive approach to the assessment of insurance companies, and when analyzing, in addition to objective financial indicators, also include subjective indicators: reviews of existing customers, media reports, personal experience (including brokerage), experience of other clients.
In addition to classic property insurance, we have experience in concluding and maintaining other insurance contracts, usually referred to as property insurance:
- Liability insurance (including producer for the quality of goods, professional liability)
- Business Interruption Insurance (BI)
- Damage insurance for industrial equipment
- Construction risks insurance
We accompany our Clients on all the types of insurance described above, our experience and market knowledge allow them to be confident in the high quality of both insurance documentation and the quality of the insurance company’s service.