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Insurance brokerage for companies and professionals

Our team of consulting partners leads the study of risks and their placement, ensuring the best service and the best possible solution for your company.

Property Damage and Loss of Benefits

Property insurance protects the insured against damage caused to the company’s tangible assets or loss thereof.

Did you know that there are specialized insurers that only underwrite property damage, providing 100% capacity up to €1,000 million and without coinsurance? We can advise you on material damage insurance and access the best providers on the market if your company is sensitive to prevention.

The coverage included in Material Damage Policies “loss of gross margin or profits” protects against losses in the income statement or lost profits as a result of a damage claim.

In material damage insurance there are different levels of coverage quality, from ” all risk” coverage to “listed risk” coverage and the clauses of the policies contemplate exclusions or extension of various coverages (machinery breakdown, supply failure, fire in supplier, theft, franchises, etc …), all to be defined for the design and negotiation of the best damage program for your company.

Currently, it is important to know how to evaluate the UNE or NFPA standards, as well as receive good advice regarding construction materials, compartmentalization, hydrant or sprinkler installations if necessary. The experts at ABK Risks and Insurance know this matter well in order to guide the quote towards the best insurer..

General Civil Liability

Civil Liability insurance protects against third- party claims because of personal or material damage and its consecutive consequences such as non-material damage (loss of profits).

These are some examples:

  • Property damage: a fire causing damage to neighboring buildings.
  • Personal injury: the traffic accident of a worker during working hours.
  • Consecutive non-pecuniary damage: The adjoining factory stops manufacturing due to the fire, and claims 2 months of billing for not being able to manufacture.

There are several coverages within the Civil Liability policy:

Exploitation Civil Liability

Coverage of third-party claims in the place where the activity of a company is carried out for the operation of a business. When the damage or loss is caused in the company’s facilities or in any of the locations where the company’s activity is carried out.

Employers Civil Liability

It covers the claims that the workers of a company may exercise against it, either for personal injury or material damage. If, for example, a worker has an accident during his work duties and ends up suffering disability, he can sue the company. In case of death, their relatives could do it.

Product Civil Liability

Coverage of third-party claims for material or personal damage caused by the products sold or services provided.

Union and Mixtures Civil Liability

The Union and Mixtures CL covers the possible claim of a client for the supply of a defective intermediate product that has caused losses in the final product. Covering the products joined and mixed by third parties to the intermediate product supplied.

Product Withdrawal or Recall Civil Liability

Covers the costs of withdrawing defective products from the market whose cause corresponds to the insured.

It is important to know that said coverage does not include the cost of the “product itself to be destroyed”. For this, there are specialized coverages for the Accidental Contamination of the product.

Civil Liability for Directors and Officers (D&O)

Covers the claim against the assets of thepeople who make up the board of directors or act as directors of the company. An example of this would be if by action or omission (without intent or fault) a company goes bankrupt and the workers, banks, suppliers or shareholders claim the administrators for the losses suffered.

Environmental Civil Liability

In industrial processes, complex machinery is often used, and products that can cause damage to the environment if not used properly due to negligence or accidents. This insurance covers possible expenses to replace damage to biodiversity or cleaning property of a third party or own land, as a result of an accident.

There are some industries that have the obligation and responsibility to contract a specific Environmental CR insurance, following the guidelines of Law 26/2007 extended on October 15, 2021.

Did you know that more than 60% of the companies subject to this Law either do not have the insurance contracted, or their Environmental CR policies do not meet the requirements?

Professional Civil Liability

Intended for professionals, with the need to cover customer claims for errors or omissions in the work carried out. Supplementary insurance to the general RC described above (material and personal and consecutive damages).

Cyber Risk Coverage

The insurance known as ” Cyber ” offers coverage related to losses as a result of cyber risks against virus attacks and hackers. They are intended to protect companies from the risks, both online and offline, to which they are exposed and which can lead to large losses of increased costs, reduced sales, third-party claims and consulting expenses.

We work together with technology partners and the best insurance companies to offer complete cybersecurity solutions for companies. All this includes advice and services related to the management of your company’s computer security so that all your data and corporate information are safe.

Collective Accident and Life Insurances

They refer to insurance contracted by companies as part of the company benefits program for employees. These insurances offer death or disability coverage for employees and directors, as well as medical expenses.

This is a practice inherited from Anglo-Saxon companies and is increasingly on the rise in all companies.

Health Collective Insurances

Like Collective Accident and Life Insurances, it is an insurance offered by companies to their employees (Employee Benefit Programs).

There are significant tax incentives when health insurance is paid for by the company. Companies offer to pay for their employees health insurance policies as a complement to social security.

Vehicle Fleets

Fleet insurance, by its side, includes all the vehicles owned by a company in the same policy. It works in a similar way to vehicle policies, but with the difference that it groups them all under the same contract.

It is an efficient and comfortable solution for those companies that have multiple vehicles, and it ends up being cheaper. Fleet insurance offers a standardized solution for all vehicles, with coverage and unique conditions for the entire fleet and is more efficient than taking out individual insurance for each vehicle.

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