All technical risks at a glance: insurance from a single source
Many industrial sectors depend on the operation of complex technical equipment or machinery, which are usually associated with enormous investments. Due to this fact, they must be insured appropriately according to the potential risks they pose, which may even threaten a company’s survival.
As an independent insurance broker and specialist for industrial insurance, Funk offers cover schemes for all areas of technical facilities and activities. For example:
- Portable and transportable machinery such as construction equipment, cranes, work platforms, forklifts
- Stationary machinery such as production facilities, wind turbines, biogas plants
- Electric and electronic facilities and equipment
- Construction measures for structural, underground and civil engineering
- Installations of constructions of all types
Depending on the requirements and risk philosophy of a company, our experts help to protect its individual risks or devise a tailored solution, e.g. for extending production.
Protecting your investments
Extending production in particular is associated with high investments for companies, especially in the case of large-scale projects, major facilities or entire inventories of machinery. Our team of technicians, engineers, insurance brokers and experts in the field of technical insurance helps make the specific risks incurred in the course of implementing an investment more manageable through tailored insurance solutions:
- Machine breakdown insurance: covers property damage to stationary and portable machines
- Business interruption (BI) insurance: covers financial losses caused by interruptions resulting from the damage, loss or theft of technical facilities and equipment or during the building or installation
- Installation insurance: protects against property damage to installations incurred during the process of newly installing, removing and re-installing systems, carrying out renovations or repairs, and in the subsequent testing phase
- Electronic equipment insurance: covers property damage, theft or loss of all electronic and electric equipment and facilities
- Contractors all risk insurance: covers property damage to building projects in the fields of structural, underground and civil engineering
Cross-discipline competency in technical insurance management
Funk has been operating in the field of industrial insurance for many years and supports companies across all industries and economic sectors. Amongst our many teams, for example, you can benefit from the active advice and support of our Heavy Duty/Crane team, Energy team and our cooperation with the Pulp and Paper insurance office. All of our teams offer comprehensive insurance and risk management from a single source – from an independent, reliable partner in constant one-on-one contact with you.
Learn more about technical risks
Selling industrial facilities
When it comes to selling industrial facilities, the relocation itself is not the only risk. For the buyer, the technical performance of the equipment at the new operating site is the most crucial consideration. Funk has developed innovative all-round protection for this.
Grid-use charges
Avoided grid-use payments are a major source of income for municipal utilities. Sometimes, however, a malfunctioning turbine is enough to reduce or even wipe out this payment.
Link: https://www.funk-gruppe.de/en/corporate-blog/insurance-management/avoided-grid-use-payments/
Tailwind for crane systems
Extremely tall and extremely heavy: wind turbines place particular demands on crane systems. This should be reflected in insurance cover.
Link: https://www.funk-gruppe.de/en/corporate-blog/insurance-management/tailwind-for-crane-systems/
Risks
Liability risks
The potential liability of companies varies depending on the industry or clientele. Nevertheless, all companies have one thing in common: even small mistakes can lead to severe losses.
Property damage and BI risks
While property insurance is a basic protection every company should have, the risk of business interruption is increasing steadily as well – especially for globally connected players.
Risks in M&A processes
The M&A market is booming: in a constantly changing market environment, transactions are the key to the success and future viability of companies. But their risks should not be underestimated.
Services
Funk China
Investing and operating outside of China becomes more and more essential for Chinese companies. The Funk China Division supports its Chinese clients in managing the risks, challenges and chances of worldwide outbound investments.
Insurance + risk management
Funk devises and implements holistic risk and insurance solutions for companies across all industries, sectors and countries. In doing so, our experts do not only secure your individual assets but also create genuine added value for your company.
Employee health + benefits
Employee benefits concepts are a sustainable component of a good corporate policy. Funk provides comprehensive, transparent advice with a view towards the long-term advantages for your company and your employees.
