All Risks
The All Risks policy provides cover for accidental destruction or damage to the insured property (buildings, contents and stock).
There are three categories of exclusions:
A) Causes which are not insurable in a property policy, such as its own inherent vice, wear and tear, sonic bangs, trade risks, pollution, settlement of structures, property in the open, property insured by a marine policy or elsewhere, war and terrorism, radioactive contamination and consequential loss.
B) Causes which may be insured under another type of policy, such as gradually operating causes, inventory shortages, empty property, pressure plant, machinery breakdown, collapse or cracking, computers, motor vehicles, buildings in the course of erection and livestock.
C) Causes which may be added as buy-backs, such as dishonesty of employees, theft, subsidence, jewelry, goods in transit, glass, sanitary wear, money, civil engineering works and trees.
Customer Profile
Three segments:
1. Major Multinational
2. Middle Market
3. Small Commercial
Suitable for Manufacturing, Industrial / Commercial enterprises, Health Care facilities, Real Estate, Municipalities, Public Utility Corporations and Service Industries.
Value Added / Advantage
- Policies are written in clear easy to understand Greek or English.
- Policies offer the same type of coverages as standard UK.
- Each account is underwritten individually.
- No classes of business are excluded from consideration.
Controlled Master Program
Globalized Property Damage and Business Interruption coverage for Multinational companies. May be written on a program basis, including the jurisdictions of the USA and Canada. Program would consist of a Master Policy issued to the parent corporation and "underlying" policies issued to the parent corporation's business units in the countries where they are located.
FEATURES
- Customized Master Difference in Conditions policies to protect the Parent Companies interest
- Locally admitted policy issuance capability in 130 countries and jurisdictions to meet insurance needs of client's business units overseas.
- Centralized underwriting control
- Uniform Coverage Worldwide
- Worldwide Risk Engineering service
- Worldwide Claim Service service
- Bulk Purchasing Power
- Large Program Deductibles
- Pre-Cursor to Multinational Programs
- Minimum Program Premium - US $ 500,000
- Flexible premium allocation among the policies comprising the program.
WHO SHOULD BUY THIS
Companies with Multinational exposures and an interest in obtaining uniform coverage for all operations worldwide from a AAA-rated insurer with the best service capabilities.
Fire and Special Perils (Business Interruption)
The available coverages for Business Interruption are Fire and Special Perils. The perils included in the standard policy are: Fire, Lightning, Explosion, Aircraft, Riot, Civil Commotion and Malicious Damage, Earthquake, Storm or Flood, Escape of Water, Impact, Sprinkler Leak, Explosion or Collapse of Steam Pipes, Vessels, Boilers or Economisers Subsidence.
Customer Profile
Three segments:
1. Major Multinational
2. Middle Market
3. Small Commercial
Targeted classes are Manufacturing, Industrial / Commercial enterprises, Health Care facilities, Real Estate, Municipalities, Public Utility Corporations and Service Industries.
Manufacturing: including, but not limited to, metal working, cement factories, food processing, medicine, computer equipment.
Service Industry: including, but not limited to, commercial real estate, hotels, TV and radio broadcasting, shops, professional offices.
Value Added / Advantage
- Policies are written in clear easy to understand Greek or English.
- Policies offer the same type of coverages as standard UK policies as they are based on the ABI recommended wording of Standard Fire and Special Perils Policy (Business Interruption).
- Each account is underwritten individually.
- No classes of business are excluded from consideration.
Fire and Special Perils (Material Damage)
The policy provides cover for the destruction or damage to the insured property (buildings, contents and stock). The perils that are included in the standard policy are: Fire, Lightning, Explosion, Aircraft, Riot, Civil Commotion and Malicious Damage, Earthquake, Storm or Flood, Escape of Water, Impact, Subsidence, Burglary.
There are extended coverages available as follows:Debris Removal, Architects fees, Temporary Removal, Electronic Data, Municipal Authorities, Contract Price, Cold Storage, Reinstatement of Sum Insured, Floating Charge, Declaration Basis, First Loss, Reinstatement Memorandum, Plate Glass.
Customer Profile
Three segments:
- Major Multinational
- Middle Market
- Small Commercial
Suitable for Manufacturing, Industrial / Commercial enterprises, Health Care facilities, Real Estate, Municipalities, Public Utility Corporations and Service Industries.
Suitable for Manufacturing, Industrial / Commercial enterprises, Health Care facilities, Real Estate, Municipalities, Public Utility Corporations and Service Industries. Value Added /AdvantagePolicies are written in clear easy to understand Greek or English. Policies offer the same type of coverages as standard UK.Each account is underwritten individually.No classes of business are excluded from consideration
Goods in Transit
The Goods in Transit policy indemnifies the insured for any loss or damage to or destruction of the insured property by fire, theft or accidental means, whilst being loaded upon, conveyed in or unloaded from any vehicle or trailer.
Customer Profile
Targeted classes are Manufacturing Industries, Retail Businesses, Municipalities, Public Utility Corporations.
Light-medium hazard manufacturers: including, but not limited to, metal goods, electronic equipment, beverages.
Value Added / Advantage
- Policies are written in clear easy to understand Greek or English.
- Policies offer the same type of coverages as standard UK policies.
- Each account is underwritten individually.
Net Advantage Security Product
Ned Advantage Security Product policy that provides coverage for "cyberspace" risks relating to the Internet under a single policy. There are four basic coverages involved:
- Liability (written by Financial Lines PC)
- Media (written by Financial Lines PC)
- Extortion (shared by Financial Lines and Property)
- Assets & Income Protection (written by Property)
Property Coverages Involved:
- Injury to Data caused by failure of computer system security (e.g., data is destroyed/stolen/corrupted by a hacker, or data is damaged/deleted/destroyed by a virus/worm); subject to a monetary amount deductible.
- Business Interruption and Extra Expense as respects the Insured's internet business, resulting from failure of system security (e.g., down time due to hacker or virus/worm); coverage is on "actual loss sustained" basis that is essentially the same as provided in a Fore BI Policy; subject to a waiting period deductible (normally 12 hours or more).
- Contingent Business Interruption and Extra Expense as respects the Insured's internet business, resulting from failure of a supplier's system security (e.g., down time due to hacker or virus/worm); policy specifies a $100,000 sublimit; subject to a waiting period deductible (normally 12 hours or more.
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