Insuring core risks: property damage and business interruption
Operating a company entails certain risks. Those that are the most difficult to calculate are unforeseen damages to company buildings, production facilities, machines and inventory. Property insurance is therefore a fundamental insurance cover for any company. The corresponding agreement and cover should be targeted towards the insured interest or risk of the specific client and its industry.
Funk has been supporting companies in a wide range of industries for many years as an independent insurance broker and reliable partner in all matters concerning risk management. Funk offers a wording that goes far beyond the standard terms and wordings of other market players. Our solutions range from classic cover of individual risks, such as fire insurance, to natural hazard insurance and all risk covers. Other optional insurance components for property damage or business interruption (BI) insurance can be added, depending on the industry and risk philosophy of the client. Our experts will create a tailored insurance solution for each client.
Protecting your company from property damage
Property damage can have a massive impact on a company. In addition to the direct damage of property, the business interruption that usually results from a property damage can be even more significant. In addition to loss of earnings and running costs, production backlogs and unmet delivery deadlines can harm your image and may eventually result in a loss of clients. BI insurance provides comprehensive cover of the financial consequences of reduced output and loss of earnings in operation, thus protecting companies from losses that threaten their existence. Depending on the agreement, the insurance cover in particular includes:
- Interruption losses, the ongoing costs in the event of a business interruption and the lost earnings from profit and turnover of manufactured products
- Interdependencies between the insured business departments and subdivisions of a company
- Contingency claims (only by special agreement) for suppliers or customers involved in the supply chain of the insured company
Support in the event of a claim
Our multidisciplinary and cross-industry knowledge enables our clients to precisely match their property and business interruption solutions, so that they only purchase the cover they truly need. We design a tailor-made solution based on our clients’ specific insurance requirements and provide our recommendation for comprehensive insurance cover. We also support international clients in setting up international insurance programs that are tailored to the structure and needs of their multi-national company.
Learn more about material damage and business interruption risks
Plant under water
When a small river turns into a major insurance claim, fast help is important. That’s why Funk sent an expert team straight away when the German company Hörmann Automotive experienced flood damage.
When the boss has to put on wellies
Whether heavy rainfall or heat wave, risks posed by forces of nature and their consequences can cause long-term damage for companies, the more so as the intensity and frequency of such events increase. Modern risk management tools and tailor-made insurance solutions offer protection.
Five fire protection tips
For modern companies, protection against fire damage is often an unpleasant annoyance. An intelligent risk concept has many advantages in this context.
The advantages of sprinkler protection
Companies can protect themselves against the consequences of a fire. However, the requirements for insurance protection are increasing. Sprinkler systems put companies in a good position.
Good insulation is half the insurance
When it comes to insulation for buildings, the idea of ‘price above all’ plays a role in the industry, alongside the properties of the insulation itself. But cheap insulation can quickly lead to precarious situations.
Protecting against terror risks
Acts of terror and politically motivated violence are increasing worldwide – and businesses in rural areas are also affected. What do German companies need to keep in mind to protect themselves?
+86 21 1257 8625