Property and loss of earnings insurance
If buildings, equipment and/or supplies are destroyed, damaged or lost as a result of insured property damage, property insurance protects companies from the financial consequences.
In addition to the protection of material assets, the financial consequences of a business shutdown due to material damage should not be disregarded, especially as these often represent a threat to the existence of the company. For example, profits can no longer be made during a shutdown, but the fixed costs continue to run, so that many companies have to resort to reserves to secure liquidity or are forced to take out additional loans.With a loss of earnings insurance, companies can insure themselves against the consequences of a business interruption. For example, if operations are interrupted by insured property damage, the loss of earnings insurance not only compensates for the loss of profit but also for ongoing costs, in particular wages and salaries, commissions and rents and leases.
What do typical insurable risks in property and loss of earnings insurance look like?
In industrial property insurance, named and unnamed risks are insured:
- fire hazards, such as fire, lightning, explosion, collision or crash of aircraft, its parts or cargo
- Burglary including vandalism after a break-in, robbery
- Tap water, extinguishing system leakage
- Vehicle impact, smoke or supersonic pressure waves
- Glass breakage
- Civil unrest
- Malicious damage
- Strike or lockout
- Storm, hail
- Flooding, backwater
- earthquake, tsunami
- subsidence, sinkhole, landslide
- Snow pressure, avalanches
- Volcanic eruption
What solutions does the SCHUNCK GROUP offer?
The SCHUNCK GROUP reviews existing insurance contracts and, based on an individual risk analysis, creates an insurance solution that is specially tailored to the needs of your company. The solution combines the best on the market and therefore guarantees you optimum security.
Our experts are your advantage
- Worldwide individual cover, specially tailored to the needs of your company
- Assistance in the calculation of the insured sums to avoid a disadvantageous under- or overinsurance
- Best possible terms
- Active risk management for loss prevention and reduction