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Authored by Natalia

Coverage For Company Financial Risks

While running a business you face good and worse times because of unseen accident and damages that caused by any disasters. Let suppose running a company of candle production you need insurance for your company and candle maker insurance as well to protect your company assets and workers.The object of insurance is the property interests of the Insured associated with the implementation of entrepreneurial activities (possible losses as a result of a break in production associated with the destruction or damage to the production assets of the Insured, which occurred as a result of non-supply of electricity, fuel, water and other resources necessary for the implementation of production activities due to fire, accident at the supplier, on the power lines, etc.).

 Insured & risks caused

Legal entities of any organizational and legal form, owning production assets by right of ownership, under a contract of employment, lease, rental, etc., for the safety of which are financially responsible, carrying out production and having concluded an insurance contract with the Insurer. Losses of the Policyholder incurred as a result of interruption in production due to:

  • Accidents in heating, plumbing, fire-fighting and sewerage systems.
  • Fire, including as a result of a lightning strike.
  • Explosion of gas, boilers, machines, apparatus.
  • Penetration of water from neighboring (foreign) premises.
  • Falling flying objects or any of their debris.
  • Theft of equipment, raw materials, components and assemblies, other illegal actions of third parties.
  • Cuts in the supply of electricity, fuel, water, as a result of fire, accidents (on power lines, other sources of supply of fuel, water, other resources, etc.) or natural disasters.

 

  • Policyholders

The objects of insurance are property interests associated with harm to the health of citizens, as well as death as a result of an accident or illness.

  • Legal entities: banks and / or other credit organizations that have permission to carry out banking operations, issued loans (credits) to the Insured Persons on a reimbursable basis
  • capable individuals, regardless of citizenship

Insured persons under an insurance contract for group (collective) insurance are individuals - borrowers of a credit institution who have entered into loan agreements with a credit institution (hereinafter: the Loan Agreement), who have expressly expressed their voluntary consent (will) to extend the validity of the insurance contract in respect of them, and indicated in the List (Register) of insured persons.

 Beneficiary

An individual or legal entity specified in the insurance contract with the written consent of the Insured, who has the right to receive insurance benefits in the event of an insured event. If the Beneficiary is not specified in the insurance contract, then the Beneficiary under the contract is the Insured, and in case of his death - the heirs of the Insured.

  • Temporary incapacity for work of the Insured as a result of an accident or illness.
  • Permanent complete or partial loss of general working capacity by the Insured as a result of an accident or illness with the establishment of a disability group.
  • Death of the Insured as a result of an accident or illness.
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