For the successful operation of a company, capital, know-how and competent employees are vitally important. But it doesn’t stop there. A major factor of any company’s success is also its adequate protection against various exposures. The financial consequences from a loss of property, equipment, machinery, and stocks can easily threaten its existence. And when the damages cannot be recovered immediately, they result in a limited or disabled operation.
In practical terms, this means a loss of earnings while the fixed costs for rent, salaries and charges continue. Business interruption insurance protects you against financial losses by replacing the missing margins and the loss of profit.
GrECo has a skilled team that deeply understands risks in property and engineering and can help you protect your assets and business operations.
Each insurance solution can be tailored to the individual needs of the policyholder. GrECo’s specialists carefully assess your risk situation and later provide you with more specific, individual, and tailored insurance concepts, such as:
- Property Damage and Business Interruption (All Risk Policy);
- Machinery Breakdown and Machinery Business Interruption;
- Construction All Risk and Advanced Loss of Profit (ALoP);
- Natural Catastrophe Cover;
- Alternative Risk Transfer, Captive and Virtual Captive programme solutions;
- Parametric Insurance;
- Excess loss and Layer programmes and many other innovative solutions.
We can assist you in several different ways. The first step is the analysis and arrangement of a tailored bond credit facility. We clarify your individual needs for bonds, and then go on to design the bond facility insurance according to our negotiations with the insurers. Following on from this if your needs or the insurance market change, we will then examine and adapt the contracts accordingly on your behalf.
Our expert team at GrECo continually monitors the insurance markets at home and abroad and will recommend amendments, and new opportunities (such as rental deposit guarantees) available through our international network of specialists. You can count on our help throughout. We are always on hand to answer questions that arise in connection with the processing of the bond and guarantee insurance and to review policy supplements to ensure that they align with the insurance contract and the agreements made.
Businesses of all sizes need a long-term insurance partner with industry experience and capacity, as well as a strong presence in the CEE region. GrECo has longstanding experience in this area and supports you in the analysis of your property and engineering risks. Our risk engineering expertise additionally guarantees that your risks will be properly assessed. Risk engineering depicts risk management professionally and creates an essential basis for the tailored servicing of our clients.
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Nathalie Vantieghem
Group Practice Leader Property & Engineering
T +43 664 96 24 048