Property insurance

Property insurance protects against the risk of physical loss and damage to equipment and other property, including real estate. This insurance coverage may include lease payments if the return of insured leased equipment is not possible or delayed due to loss or damage, as well as business interruption, loss of income and increased costs due to loss or damage to insured property and blocked berths.

Insurance is carried out on the principle of “unspecified risks”, that is, for any reason, including mechanical and electrical breakdowns and malfunctions, as well as risks of strikes, civil unrest, riots and terrorism. If property is damaged as a result of any incident, the insurer will ensure its prompt replacement with similar (or not worse) equipment, or pay for its repair.

Most often, property and business interruption insurance is offered in addition to liability insurance, protecting the insured against any accidental risks: man-made and natural disasters, equipment breakdowns, associated additional costs, and/or loss of income as a result of such incidents.