Guaranteeing clients the highest degree of protection for their property in case of unexpected events.
For this purpose, we have developed rules and guidelines, accepted by the major insurance companies, for coverage in the event of: Fire, weather events and other material damages:
- Damages as a result of Business Interruption
- Theft and robbery
- Socio-political events, terrorism and sabotage
- Natural disasters (earthquakes, flooding, etc.).
Protecting our clients from risks related to civil liability is central to our insurance programmes.
For this purpose, we have created technically competitive rules and guidelines, which have been accepted by the major insurance companies, for the following types of coverage:
- Third Party Liability
- Employer’s Liability
- Product Liability
- Product Recall
- Pure Financial Losses
- Professional Indemnity
- Directors and Officers Liability Insurance (D&O)
- Environmental Damage and Pollution Liability.
Companies that own goods must take into account the “transport risks” for incidents arising from the transport of said goods.
Damage and loss can give rise to considerable damages. To prevent this risk, it is essential to have a Marine policy that guarantees compensation for the real value of goods both purchased and sold.
A Marine policy will protect your company’s goods from:
- Acts of God (storms, ice, lightning, floods, etc.)
- Accidents involving the means of transport on which the goods are being transported
- Acts by third parties (theft, robbery, etc.)
- Damages arising from the nature of the goods themselves (fermentation, spoilage, putrefaction, etc.)
- Damage arising from poor preparation or execution of the shipment (unsuitable packing, etc.).
Insurance policies for coverage of operational, financial and professional risks, for protection against pecuniary losses.
These are specific insurance policies for coverage of operational, financial and professional risks, for protection against pecuniary losses and to cover the costs from which banks, financial institutions, managers, professionals and businesses wish to protect themselves. The main insurance products available on the market are:
- D&O – Directors & Officers Liability
- EPL – Employment Practice Liability
- M&A (Mergers & Acquisition) Products
- BBB (Bankers Blanket Bond).
Professional Indemnity Insurance offers coverage for financial losses suffered by third parties as a result of a mistake made while conducting your business and for which you are held civilly liable.
This coverage also insures mistakes made by individuals under your charge.
Area Broker & QZ, on the strength of its expertise in this field, is able to recommend solutions for professional service providers in any sector and for those for whom insurance coverage is mandatory under the law:
- Legal area
- Technical consulting
- Real Estate
- Consulting in general
- IT (Information Technology)
Types of insurance coverage capable of protecting businesses’ intellectual property have long existed in English and American insurance markets.
These formulas basically cover the legal costs and damages that can arise as a result of disputes in this field.
If it is true that intellectual property is commonly acknowledged to be one of a business’ critical assets, it consequently follows that it must be protected, with a particular focus on tangible assets.
Types of insurance coverage in this field include:
- Intellectual Property Litigation
- Asset protection
IP Litigation covers the company in terms of costs arising from disputes related to intellectual property. Professional fees of independent contractors and expenses incurred to enforce compliance with contractual conditions, to defend the ownership, validity or the title to your intellectual property rights, and to prosecute any who violate them, are included in said coverage.
This type of coverage can also be used to defend yourself in the event you are held liable by a third party for violations of the same sort. Every type of intellectual property right can be insured, from patents to copyrights, from trade secrets to domain names.
Asset Protection policies focus instead on revenue streams generated by IP rights and from their perceived value. In the event of a violation of another party’s rights and the consequent forced withdrawal of a product, the following are covered:
- for products still in the design phase: research and development costs
- for products just launched on the market: loss of expected profits
- for mature products: loss of profits calculated on the basis of historical data.
To protect yourself from the risk of non-payment on the part of your clients, it is a good idea to consider a trade receivables insurance policy.
This instrument, in addition to considerably limiting the danger of insolvency, has the following characteristics:
- It protects the insured party against the risk of its customers’ technical or actual insolvency.
- It is the insurance firm that takes on the risk, after having checked on the debtors’ state of solvency.
- Operations for the recovery of outstanding debt can be performed by the firm.
A party who is required to provide a security to guarantee fulfilment of the obligations he has assumed may choose to use a surety bond issued in favour of the creditor of the bond.
A surety bond presents the following benefits:
- It does not tie up lines of credit, leaving these available for the normal financial requirements of the company business.
- It uses an instrument accepted by all public and private beneficiaries which, for a limited cost, makes it possible to avoid tying up money, stock or other collateral securities.
A legal protection policy covers your business’ legal and experts’ fees, accrued in its defence in disputes with third parties.
A legal defence policy is applicable in the following situations:
- Civil and/or criminal defence
- Recovery of damages
- Disputes with customers
- Disputes with suppliers
- Disputes with employees
- Disputes arising from contracts/subcontracts
- Violations of privacy law
- Administrative liability of legal persons
Cyber Risk policies are intended for those who wish to protect their businesses against the numerous IT-related risks that threaten companies every day.
Subscribing to a Cyber Risk policy will allow you to be protected from the following risks:
- Civil liability for personal and corporate data breaches
- Protection from hacker attacks on company computers and servers
- Business interruption caused by fire affecting the IT systems
- Security breaches by treacherous employees
- Outsourcing of systems in the event of a crisis (denial-of-service attacks).
Insurance against technological risks arose from the need to protect businesses that use electronic and technological equipment.
Insurance against technological risks arose from the need to protect businesses that, during the course of their activities (ERECTION – CONSTRUCTION – ENERGY), use electronic and technological equipment and therefore require effective coverage to safeguard not only their own means of production, but also their industrial and civil projects, both during construction and once they are in operation.
Technological risk policies can be divided into three areas or, better yet, into three time periods during which the risks may occur:
- Assets under construction
- Assets in operation
- Assets after construction
The insurance policies to protect assets under construction are:
1. The EAR (Erection All Risk) Policy, designed to protect industrial plants and machinery from the risks of breakage or damage that can occur during assembly
2. The CAR (Contractor All Risk) Policy serves principally to protect the manufacturer from problems that may arise during the construction phase and cause damage to the project itself.
The insurance policies for assets in operation are:
1. Accidental Machinery Malfunction Policy
2. Electronics Policy.
The insurance policies for assets after construction are:
1. The ALOP (Advance Loss of Profit) Policy, more commonly known as “Delay in Start-Up” insurance, serves to complete the EAR.
2. Decennial Liability Insurance Policy is the natural continuation of the CAR policy, providing coverage in case of serious structural defects arising from improper execution of the project.
ACCIDENT & HEALTH
Flexible benefit plans promote and encourage people to sign up for healthcare benefits. They are intended to be used by our clients in the context of company welfare plans.
Flexible benefits, in addition to representing a leap forward in terms of company welfare plans, also have other advantages:
- Benefits packages can be extensively personalised.
- Employees are free to choose the services most suitable for them.
- They do not constitute income that has an impact on purchasing power.
- Both parties can enjoy more advantageous compensation policies.
Life Insurance policies are essential instruments when it comes to guaranteeing family members the availability of capital in the event of the sudden death of the principal or only family breadwinner.
These products can also provide appropriate protection for companies’ assets.
The following are the main types of coverage that Area Broker & QZ is able to make available to its clients:
- Term Life Insurance
- Long Term Care (LTC) Insurance
- Dread Disease Insurance
- Key Man Insurance
The Fine Art policy provides an ALL RISK guarantee to cover all of the risks associated with the conservation of a work of art, including accidental damage during transport.
The protection of works of art, unique objects with variable value, calls for a unique and specific sort of insurance coverage.
Our team will help you to draw up a list of the art works in your collection, complete with the updated current market values, recommending types of coverage that do not, at the time a claim is made, call into question the value assessed and agreed upon by the parties at the time of the contract’s signing.
The Fleet policy is conceived to manage the insurance needs of a fleet of motor vehicles owned by a business.
This solution is intended for companies that wish to insure their fleets of vehicles (regardless of their type or intended use) and to optimise the expenditure and management associated with said insurance, by including in a single policy coverage for Civil Liability and diverse risks such as fire, theft and acts of vandalism.
The Fleet policy requires a detailed study of the assets included and the operations they perform, the aim being to highlight possible risks, possible types of insurance coverage and potential extensions of warranties, intended to cover the majority of types of damage caused by an accident.
Competitive solutions for companies with “fleets” are available on the national and international markets, offering the following advantages:
- A single policy with a single renewal date for the entire fleet
- Rationalisation and optimisation of costs
- Homogeneity of coverage for the entire vehicle fleet or by vehicle type
- Immediate addition/removal of purchased/sold vehicles with only the pro-rata premium recorded.