All Risks Combined: Property Damage and Business Interruption Insurance

All Risks Combined: Property Damage and Business Interruption Insurance provides the most comprehensive insurance protection for business assets – buildings, machinery and equipment, goods and inventories, as well as vehicles without registration numbers, information media, and cash in metal boxes.

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The insurance is offered in 2 options, described below

Property Insurance

The object of insurance is buildings, machinery and equipment, goods and inventories, as well as vehicles without registration numbers, information carriers, money in metal boxes.

It is contracted based on:

Stated risks – fire, direct lightning strike, explosion, malicious acts, natural disasters, earthquake, theft by burglary (including vandalism and robbery), snow pressure, rockfall, etc.
All risks – damages to the insured property caused directly by any sudden, accidental and unforeseeable event are covered, except those expressly excluded in the General Terms and Conditions of the insurance.

Business Interruption Insurance

It protects against loss of income due to the interruption or disruption of the Insured's business due to property damage resulting from a risk covered under the policy.

Period for which indemnity is payable: 1) Until the business is restored; 2) Until the expiry of the maximum indemnity period agreed in the policy

The gross loss of profit the business would have earned without business interruption is indemnified, and such an indemnity may not exceed the insurance amount.

Costs to minimize the loss of profit may also be included in the coverage.

Business Interruption Insurance upgrades Property Insurance

Main coverages

The main coverages in this insurance product are:

Fire, direct lightning strike, explosion, aircraft crash

Civil disturbance, malicious acts, strikes, lockout

Vehicle impact, smoke, supersonic shock wave

Sprinkler leak

Water leakage from pipework

Storm, hail, heavy rain

Flooding, water level rise of natural water bodies

Earthquake

Glass breakage

Burglary, including vandalism and robbery

Snow pressure, rockfall, landslide

Additional coverages

Indirect lightning strike

An explosion caused by explosives

Leakage of molten material

Rope lines and chair lifts, cable damage from a lightning strike

Radioactive isotopes

Robbery during transport of insured property

Smoking installations

Benefits

Main benefits

Ability to tailor cover to the Insured's requirements in terms of risks and type of coverage (Property Insurance alone or in combination with Business Interruption Insurance)

Automatic underwriting of newly acquired properties up to an agreed limit
Advance payment of part of the insurance indemnity
Automatic reimbursement of the insurance amount after payment of the indemnity without paying an additional premium by the insured

Additional benefits

Application of an equalization clause to the insurance amounts of the various types of property to avoid underinsurance
Option for applying an investment coverage clause for investments and improvements made during the contract period up to an agreed limit