Corporate property insurance

Emergencies usually result not only in losses due to damage / loss of tangible assets, but also in the interruption of production activities. During the time required to restore production to the previous level, the company loses the profit it would have received if the damage had not occurred. Business interruption insurance is a solution designed to protect the company when similar situations occur.

A business interruption insurance policy can only be taken out as additional coverage to the property insurance policy.
Business interruption insurance covers the loss of revenue / profit, fixed costs or additional costs caused by a forced interruption in the production / activity.

Thus, the insurance covers the following costs:

loss of profit
current expenses (salaries, social security payments, rent payments, taxes and fees, interest on loans, depreciation charges)
It is important to have a reasonable approach to determining the amount of compensation for losses from business interruption, which should depend primarily on the type and activity of the insured company and the specifics of income in this particular industry.

UNIVERSALNA offers insurance protection of valuables belonging to banks or other organizations against unforeseen circumstances and their consequences.

What can be insured:
cash in national and foreign currency
valuables kept in safe deposit boxes

What risks can be insured against:
fire, explosion, lightning
natural disasters
subsidence (sinking) of the earth’s surface, rising in the groundwater levels
earthquake
impact of water or other liquids (from water supply, sewerage, heating systems, adjacent premises, fire extinguishing systems)
collision of land vehicles
falling of aircraft, their parts, fragments or cargo
illegal actions of third parties, namely: theft, robbery, hooliganism, burglary, attack by an armed gang, arson
falling trees and other foreign objects (glass, slate, buildings or their debris, advertising signs, etc.)

Insurance coverage is a key element in the successful execution of a large contract. Insurance of construction and installation risks will allow the construction company to minimize financial costs in unforeseen situations, and to implement the project on time.

What can be insured:

construction projects
erection projects
machines, equipment and mechanisms used in construction and installation works

What risks can be insured against:

fire, explosion
natural disasters
subsidence of the soil, flooding by groundwater
errors in construction or installation
illegal actions of third parties, theft, robbery and burglary
failures of engineering systems: water supply, sewerage, heat supply
post-start warranty obligations
losses of delay in commissioning of construction and installation works (ALOP / DSU)

In addition, liability to third parties related to the construction may be insured, which has resulted into the Insured’s liability to compensate for the damage caused by:

life and health of a third party (related to medical treatment of a third party, the third party’s disability (temporary or permanent), death of a third party)
third party’s property (related to the loss, damage or total destruction of third party’s property)
The insurance contract is concluded for the period of construction and installation works, or for a period agreed by the Parties.

Both separate units of machinery and equipment and the whole complex of enterprise equipment can be insured.

What can be insured:

machinery and equipment that have been tested and inspected, are in good working order and meet all the formal and legal requirements (have certificates, permits, technical inspections)
Apparatus, machinery, mechanical equipment and/or technological systems
Sum insured shall be established in the amount of replacement value of machines and mechanisms or replacement of property with the same new or similar to it in purpose, functioning and other technical characteristics.

The financial flow and therefore the stability of the company depends on the safety of key assets. In order to protect the budget from excessive costs and increase the stability of the business, you can insure the property complex.

What can be insured:

administrative and industrial buildings
office property
Industrial, trade, technological and other equipment
machines and mechanisms
inventory
land plots
other administrative and industrial purposes

What risks can be insured against:

fire, explosion, lightning
natural disasters
subsidence (sinking) of the earth’s surface, rising in the groundwater levels
earthquake
impact of water or other liquids (from water supply, sewerage, heating systems, from adjacent premises, fire extinguishing systems)
collision of land vehicles
falling of aircraft, their parts, fragments or cargo
illegal actions of third parties, namely: theft , robbery, hooliganism, burglary, attack by an armed gang, arson
falling trees and other foreign objects (glass, slate, buildings or their debris, advertising signs, etc.)

Cargo transportation is often associated with high risk and potential material loss. Difficult climatic conditions and not always satisfactory condition of roads complicate the transportation of goods. Infrastructure is evolving, but the likelihood of emergencies is still high. Cargo insurance will help the cargo owner or the carrier not only to worry about the cargo, but to be sure that in any case it will receive a refund of its value.

UNIVERSALNA guarantees compensation for damages which can occur as a result of unforeseen accidents and dangers during cargo transportation by any means of transport, both in Ukraine and abroad.

The insurance contract may be concluded under the following conditions:

with liability for all risks
with liability for damage (partial accident)
without liability for damage, except for complete destruction or loss

In addition, the insurer may provide insurance coverage against destruction, damage or loss of cargo:

during loading / unloading
during storage in the intermediate storage warehouse
The contract is concluded for the period of cargo transportation , for the implementation of a certain amount of transportation a general contract for a specified period (year, half year, quarter) may be concluded.

Mortgage insurance against risks of accidental destruction, accidental damage or deterioration is a compulsory type of insurance and is regulated by the Resolution of the Cabinet of Ministers "On Approval of the Procedure and Rules of Compulsory Mortgage Insurance against Risks of Accidental Destruction, Accidental Damage or Deterioration" No, 358 of 06.04.11.

Insured event is the occurrence of an event at one or more insured risks: natural disaster; fire; explosion; damage through smoke; conduction of works related to the construction / reconstruction of adjacent facilities; falling of manned aircraft; collision with the insured property or collision with technical means; accidents in heat-, water-, gas supply systems, electrical networks, industrial accidents; illegal actions of third parties; effect to water and / or other liquids, etc.), which led to the destruction, damage or deterioration of the insured property and caused damage to the insured.

The sum insured under the Mortgage Insurance Agreement is determined in the amount of the full (actual) value of the property that is the subject of mortgage, but not less than the value specified in the mortgage agreement.