Property and loss of income insurance
If buildings, operating equipment and/or stocks get destroyed or damaged or are lost due to insured property damage, property insurance protects companies against the financial consequences.
Besides the protection of physical items, financial ramifications and production outage due to property damage should not be ignored either, especially since they frequently constitute existential threats to the company. For example, during production outage no more profit is earned, but the fixed costs continue to be incurred so that many companies have to fall back on reserves to ensure liquidity or are forced to take on additional loans.
With loss of income insurance, companies can hedge against the consequences of an outage. If operations are interrupted due to insured property damage then loss of income replaces running costs as well as lost profits, and in particular salaries, provisions and rent.
What do typical insurable hazards in property and income loss insurance look like?
In industrial property insurance identified and unidentified hazards are insured. This may be:
- Fire hazards, such as a fire, lightning strike, explosion, collision or a plane crash, its parts or its Cargo.
- Theft through burglary including vandalism after a break-in, robbery
- Tap water, extinguisher leaks
- Vehicle collision. Smoke or supersonic boom waves
- Glass breakage
- Internal disturbances
- Malicious damage
- Strike or lockout
- Storm, hail
- Flooding, water backup
- Earthquake, tsunami
- Subsidence, landslides, mudslides
- Snow pressure, avalanches
- Vulcanic eruptions
What solutions does the SCHUNCK GROUP offer?
The SCHUNCK GROUP reviews all existing insurance agreements and produces on the basis of an individual risk analysis an insurance solution that is especially tailored to the needs of your company. The solution combines the best of what is on the market and thus guarantees you an optimum of security.
Your advantage lies in our experts
- Worldwide individual cover, especially tailored to the needs of your company
- Assistance in quantifying the insurance amounts needed to avoid any damaging, inadequate insurance or any excess insurance
- Optimum terms
- Active risk management for damage prevention and containment