Corporate insurance
Property Insurance
Property insurance is among the basic types of insurance, intended to protect property dedicated to business operation against possible financial loss that might arise due to its damage or destruction.Business Interruption Insurance
Interruption or restriction of business operation due to material damage on property dedicated to business operation may cause substantial financial loss. Such loss may be a multiple of the material damage on the property itself. A prosperous business built up for years may get into serious financial trouble in a single moment.Liability Insurance for Statutory and Supervisory Bodies
Liability of statutory and supervisory bodies of the company is among the strictest types of liability. In legal terms, members of statutory and supervisory bodies are subject to a far greater liability than they would be under labour law. Their personal liability for the performance of their positions is nearly unlimited.Insurance of Machinery and Electronics
Machinery and electronics, like appliances equipped with mechanical and electronic elements, are intended primarily for performing work. Therefore, there is much greater scope of possible causes of damage than in other type of property. These risks may be both external, like for instance service staff error, as well as internal, like for instance damage due to overvoltage or short circuit.Construction All Risk (CAR) and Erection All Risk (EAR) Insurance
CAR and EAR insurances are standard insurance products indispensable for any major construction or development project.Carrier's and Forwarder's Liability Insurance
Liability of carriers and forwarders for the shipped consignments represents a specific type of operational liability. Risks related to inland and international road transport can be effectively reduced by insuring the carrierís / forwarderís liability.Environmental Risks Insurance
Today, the likelihood of industrial pollution to the environment is far greater than in the past and becomes relevant to ever more industries and areas of service. Financial losses due to environmental damage can be prevented by high quality insurance. Environmental risks insurance is an inseparable element of risk management in any company that understands the high risk of financial impact and tarred image in case of an environmental damage.Liability Insurance
Anyone is liable for damage caused by violating their statutory obligations, regardless whether caused by action, inaction, or relation. Individuals or legal entities are liable for health, life, or property injury incurred to a third person, as well as for other damage.Cargo Insurance
The value and volume of transported goods is ever increasing in todayís world. With it, the risk of the consignment damage or loss is growing, too. Most carriers are aware of the potential financial loss and therefore apply cargo insurance as an adequate protection against this type of risk.Accounts Receivable Insurance
Supplying goods or providing services to international and domestic markets may be accompanied by numerous risks. Accounts receivable insurance covers the risk of goods or services unpaid by the customer due to insolvency or protracted default.Product Contamination and Withdrawal Insurance
Mass production, ever increasing technical demands for production, ever extending obligations of manufacturers, stricter legislation, and many other factors result in the growing number of contamination and subsequent withdrawal of products from the market in any business field. Such situations attract media coverage which in turn may have a disastrous impact on the product, brand, and the economic situation of the manufacturer or distributor. These financial impacts can be eliminated by insurance covering product contamination and withdrawal from the market.Product Defect Liability and Withdrawal Insurance
Product defect liability belongs to the elementary insurance protection of any business.
Liability for damage caused by a defective product and its withdrawal from the market represents a great threat to manufacturers, as a defective product causes not only financial loss, but also loss of brand prestige. In todayís competitive environment it is vital to win and retain the trust of consumers.
Insurance cannot prevent the occurrence of damage/loss, but can minimize the economic impact of such event on the manufacturer which in some cases can be a matter of existence or non existence of the business. The question is not whether or not to arrange the product liability insurance, but in what extent with respect to the product nature, potential risks, and territorial distribution.
Employee Benefit Schemes
Stabilizing the staff through a quality employee benefit scheme is a good way to prevent excessive staff turn-over, thus reducing the costs of new staff recruitment and training. Insurance products like life insurance for managers, pension supplementary insurance, or capital life insurance have become indispensable in employee benefit schemes. The employee has the opportunity of highest possible financial yield, while the employer still saves social security and health insurance costs (the amount of saving depends on the applicable legislation).Staff stabilization schemes are prepared by our specialists of the RESPECT Life division.
