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AVIATION

Coverage for aircraft and helicopters for private use or for commercial and industrial companies. It covers total or partial loss of the hull and Civil Liability for damages caused to third parties such as those transported (passengers, luggage and cargo), those not transported (third parties on the surface) and Aeronautical Personal Accidents (crew seats).

BANCASSURANCE

Due to our connection to all international insurance and reinsurance markets we are able to identify products that are being developed in other countries. Through the support of our suppliers we offer capacity, advice, pricing and consultancy to our cedents and retrocedents so that they can provide it in their various selling points. These coverages range from unemployment, home care, cyber home, data protection, etc.

CONSTRUCTION & ENGINEERING

Contractors’ All Risks insurance covers material damage during construction of architectural or civil engineering works. These are temporary policies (duration of the work), although if desired, floating policies can be acquired for professional fitters. In addition to the construction site itself, construction equipment such as scaffolding, huts, tools, etc. are guaranteed through this insurance. As well as construction machinery such as cranes, excavators and compressors, but not trucks and other vehicles. Personal Effects of Employees and Labourers, Debris Removal Expenses, Fire Fighting Expenses, Overtime and Urgent Dispatches in the event of a loss, and Damage to Pre-existing Property can also be covered.

CYBER ATTACKS

While this type of risk sometimes seems complex or only affects governments and large companies, it is SMEs that are most vulnerable to cybercriminals. In fact, they are the target of 70% of cyber attacks, and Spanish companies in particular are among the most vulnerable to this type of crime. This is why it is important for companies to consider taking out cover against cyber attacks and cyber risks.

Though nowadays there is no standardised offer for this type of insurance, it could be said that there are two types of coverage: Cyber liability which covers damage to third parties, incident management, investigation, and notification of those affected. Direct losses or personal damage as a result of a cyber attack which includes damage caused to the company in the event of malware such as ransomware, exploits, DDos, etc. And legal aspects in the event of domain theft, defamation, etc. Coverage of the cost of recovering stolen data; compensation for losses and expenses arising from the cyber attack; containment of the reputational crisis.

ENERGY

Aimed at covering operational risks that may affect different types of activities related to the production of conventional and/or renewable energies. Contemplates possible damages that threaten physical assets, whether installations, equipment, and machinery, among others. It also includes coverage for economic damages, offering protection against economic damages that may arise from physical damage that paralyses or interrupts plant operations.

It is possible to obtain both All Risks coverage as well as a comprehensive and emerging Civil Liability coverage. Some examples of the insured activities are: Hydroelectric Generation, Thermal Generation, Wind Generation, Solar Generation, Refineries, Petrochemical Plants, Gas Pipelines, Oil Pipelines, Chemical Plants, Fertilizer Plants, Pulp and Paper Plants and Oil & Gas Storage Terminals.

FINANCIAL LINES

In an increasingly sophisticated financial and commercial environment, companies are at risk of losses through new criminal activities. The traditional threats of theft and robbery have been largely overtaken by white-collar crime, and even more so by cybercrime, the consequences of which are mainly experienced by the customers of the company or financial institution. The different categories of crime coexist with each other and the type of industry or the size of the business no longer matters.

For this reason, we designed a comprehensive crime coverage that adapts to the new forms of crime but does not neglect the traditional ones. This programme is divided into several sections and covers the classic offences of Employee Dishonesty, Embezzlement, Forgery, Computer Fraud, Theft, Errors and Omissions, Directors and Officers Liability, as well as more sophisticated coverages such as Internet Hacking, Social Engineering, Cyber Fraud, Cyber Extortion, and other criminal acts.

LIFE & HEALTH

It is a life insurance that offers protection in difficult circumstances. It is intended for family members so that they can face the future without worries and unexpected circumstances. It also covers the health risk for highly complex surgical interventions.

LIABILITY

The Comprehensive Liability and Specific Risks coverage protects the organisation’s assets against claims from third parties for the development of its activity and at the same time covers the risks arising from the ownership, use, operation and/or exploitation of a specific asset, such as livestock, antennas, towers or signs, among others. It also extends coverage to expenses for the removal of defective goods.

MARINE HULL & CARGO

This coverage guarantees the risks of navigation that may affect the ship or the different vessels such as sailing ships, speedboats, barges, boats, self-propelled vessels, vessels without their own propulsion (dredgers, floating cranes, flatboats, etc.) and other means of navigation. The main navigation risks include: total loss of the vessel, shipwreck, collision, fire, natural events, etc.

Regarding cargo, the insurance covers damage to goods transported by air, land or sea: from the moment when the transporting vehicle (having loaded the goods that are the object of the insurance) starts to move for the initiation of the journey at the agreed place; it continues during the ordinary course of the transport, including normal stops, stays and transshipments; until the vehicle’s arrival at the final destination.

PERSONAL ACCIDENTS

This coverage includes bodily injuries suffered by a person in the event of an accident or death caused by an accident, either in their private life or in the course of their professional activity. It covers any type of activity such as professional sportsmen and/or risky activities such as diving, skiing, mining, etc.

PROFESSIONAL INDEMNITY

In recent times, legal actions against professionals and institutions have increased in frequency and severity, making this product a necessity for the protection and continuity of the professional career.

This insurance protects the assets of the professional against the need to respond to a claim or lawsuit made by a client due to civil liability arising from acts or omissions carried out with fault or negligence during the exercise of the profession.

OPERATIONAL RISKS

This coverage is destined to compensate the insured for the material losses directly suffered in an asset of his patrimony. All types of risks are covered subject to a list of exclusions. It can be extended to cover breakage of machinery, interruption of operations (loss of profits), interruption of access, interdependence and extension to customers and suppliers.

CONTINGENCY & SPECIAL RISK

Contingency coverage offers the insured the possibility of insuring the commitments, compensations or economic indemnities acquired with third parties at the moment of organising any type of event. In this sense, the contingency insurances are those that are contracted in relation to the organisation of events, to protect a possible economic damage in the event that, as a consequence of something unexpected (contingency), the event cannot take place.

The typology is extensive and varied, the best known are: Suspension/Cancellation of musical, cultural, recreational events, etc.; Cancellation of trips; risk of something uncertain and difficult happening (such as, for example, getting the golf ball into a hole in one shot, popularly known as “Hole in One”); covering excess gifts for the success of a commercial campaign; bonuses or prizes to players for team results (promotions in category, reaching a classification), or on an individual basis, prizes to elite sportsmen and women for reaching a goal.

SPECIE

Specie or valuable goods coverage is a niche product that protects valuable property such as cash, bullion, diamonds, works of art, valuable documents and even cryptocurrencies, when on site, at a third party location or in transit. Coverage is normally provided on an all risks basis for physical loss or damage. The main risks covered include damage or loss caused by natural perils, such as fire, flood and windstorm, as well as theft or physical damage. Generally, bullion/precious metals in their purified form, ore mined to refineries, stored in a bullion bank, diamonds and precious stones are covered.

It also covers cash and valuables in armoured vehicles that approach banks and other financial institutions to collect and then move large amounts of cash. Works of art, manuscripts, ceramics, historical artefacts, textiles, books and other artistic pieces can also be insured.

Cryptocurrencies present a new form of risk that can be hedged under Specie. Like physical currency, it is a very attractive target for theft and reinsurers must be prepared to provide protection against these emerging risks.

TERRORISM

Covers material loss or damage caused by an act of terrorism or sabotage. An act of terrorism means an act or series of acts, including the use of force or violence, by any person or group(s) of persons, whether acting alone or on behalf of, or in connection with any organisation(s), committed for political, religious or ideological purposes which include the intention to influence any government and/or to create fear in the public for such purposes. In turn, acts on behalf of any organisation(s) committed for political, religious or ideological purposes, including the intention to influence any government and/or to generate fear in the public for such purposes, are considered acts of sabotage and/or subversive acts.