Alas, in this world no one is protected from risks. For most people, insurance is directly related to the person or his property like a house or a car. But there are still many aspects of this matter that are known to relatively narrow sections of the population. One of them is insurance of legal entities. What is it like? What are the nuances here? These, as well as a number of other issues, will be considered in the framework of this article.
general information
It is believed that enterprise insurance should be carried out in several areas. A common set of different policies and products is necessary to guarantee complete protection of the business from risks. What can act as an insurance object? These are property, inventories, financial risks. You should also carefully discuss the conditions under which it is considered that an insured event occurs. If this is approached negligently, then there is a chance that the organization will not receive anything when a problem occurs.
Property insurance
This is the most famous and popular approach. It includes insurance of buildings and structures. Although you can get by with individual structural elements where inherent communications are laid. If you expand this option, then also include elements of external and internal decoration. We should not forget about equipment insurance. Although here, as a rule, a number of restrictions are stipulated. So, in the event of internal defects or improper operation, one cannot count on damages. By default, equipment insurance is carried out in case of fire, powerful disaster or other generally accepted risks. But if complex and expensive cars are used, then it is advisable to extend their protection also to the option of internal damage.
Inventory Insurance
Most often, this service is used by retail companies. After all, the main assets of the company are directly available inventory. And if they are lost, then potentially it can even lead to bankruptcy. Although it is not necessary that everything should be considered from this point of view. So, this option is also interesting for manufacturing enterprises that have a large number of materials and raw materials in stock. Indeed, in the event of a landslide or fire, it is likely that they will be lost. And this will significantly affect the ability to produce products. While insurance against fire, or a landslide, or other force majeure, you can get the amount of money that will help to stay afloat.
Financial risk insurance
Entrepreneurs or senior management personnel often want to protect themselves from potentially problematic issues. For many, these are financial risks. In this case, the insurance of the company is aimed at compensating for possible defaults from buyers, bankruptcy of suppliers, intermediaries and other entities. It should be noted that this product itself is useful and reliable. But if there is an unstable economic and political situation, then insurance companies prefer not to conduct activities in such a market, as this is fraught with excessive losses.
Organization employee insurance
There are a fairly large number of types of businesses where the main asset is people. Therefore, everything is done in order to support them in the event of adversity and to ensure a more rapid recovery in the ranks. Conventionally, there are two directions. The first is health insurance. It is created to cover the costs of hospitalization, medication, treatment, payment for specialist services, etc. The second direction is insurance of people against accidents. The basic package includes what happens at the workplace, and the expanded one also includes what's outside of it.
Important points
Let's say that you need to reduce the risk in something. Negotiations were held, and the company insurance contract is being prepared for conclusion. What should be considered to ensure reliability? Initially, the property that is insured should be correctly and fully described. The information requested by the organization with which the contract is concluded should be as detailed and reliable as possible. Why? Suppose an insured event has occurred. And if it becomes clear that there are significant discrepancies in the real state of affairs and the previously provided data, this may lead to a refusal to pay compensation payments.
Let's look at a small example. We have several warehouses where the processed wood is in the form of boards. Moreover, only one has a fire extinguishing system. When concluding the contract, this should be mentioned, not generalized and said that it is installed on the site. Otherwise, fire insurance will be carried out, but when an unpleasant situation arises and it turns out that the system is not everywhere, but only in one place, the company will refuse to compensate for the damage because it was misled. Therefore, it is necessary to provide all the information that will allow to accurately reflect the whole picture of the object that is insured. If you do not pay enough attention to these points, then in case of risk, the company will get in trouble in the form of the impossibility of receiving the expected compensation.
Payout Amount
You should seriously approach the money that will be paid in case of problems. You must choose the current value, but do not take the bar too high, otherwise you will have to make significant amounts that are not the fact that they will pay off.
As an example, when insuring real estate, claims for payment can be formed as the cost of building an identical object at the current moment, where its project, materials, work and services are included. This will make it possible, if a problem arises, not to search for the necessary amounts, but to proceed immediately with the restoration. Goods insurance can operate with the average monthly value of stocks in a warehouse for the last year. To account for inflation, you can additionally provide for an increase in the amount of 10-20% in the contract over the duration of the contract.
What are the most popular options?
So, most often insurance of legal entities implies protection:
- Buildings, structures, their internal communications, trim elements and glass surfaces.
- Machines and equipment.
- Production inventory.
- Various conveyances (e.g. containers).
- Inventories, finished products, raw materials.
- Objects under construction.
- Computer facilities.
- Audio, television, video, photo equipment.
- Library stock, print media, technology documentation.
- Monuments of history, architecture and culture, objects and documents that are valuable, precious metals and more.
- Cash.
- Otherwise.
And what is the insurance of the company from? Here is a short list of popular options:
- From fires, explosions, lightning strikes.
- From the actions of natural phenomena.
- From water damage.
- From theft with penetration, robbery or robbery.
- From the actions of third parties.
- From the fall of aircraft.
- From arrivals of land vehicles.
- From the sudden destruction of the building.
- From defects in materials, errors in their design, manufacture and installation.
- From exposure to electric current.
- Other circumstances, but only by agreement of the parties.
As you can see, there are quite a few reasons to insure legal entities.
Conclusion
The article examined the
insurance of the enterprise, what it represents, what types are, what and what they protect against. We should not forget that this is a fact-finding article, and more detailed information on the specifics of work can be provided by a specialist of a company that deals with risks. He will tell you in detail about the rules of insurance of property of enterprises, inventories, employees, as well as the specifics of interaction with the company with which cooperation is planned.