Property, Engineering, and Hull
Coverage for your personal/commercial property, heavy equipment, or vessel
The Cover
Coverage for your property, whether residential or commercial in nature, against sudden or accidental loss or damage. Insurance of your property means that in the event of an accidental loss, you are indemnified according to the terms of the policy.
Insurance for engineering risks, meanwhile, refers to coverage for construction projects, electromechanical works, machinery, and even heavy equipment, where accidental losses are indemnified depending on policy terms.
For those with aircrafts or ships and pleasure craft, these vessels can also be insured against accidental loss or damage through what is known as aviation hull or marine hull insurance.
Our Capability
Our approach to property is insurance simple yet comprehensive: a named perils or specified risks policy can be old-fashioned and tedious on insureds, who will have to verify against a checklist of perils whether their loss can be validly claimed or not.
What we recommend and generally arrange is an all risks cover, which is simpler and more elegant in that it only requires the insured to check that accidental loss was not due to any of the policy’s exclusions. In other words, all risk insurance reimburses the insured for damage to the subject matter from all causes save for those explicitly excluded, broadening the scope and coverage of your insurance. This kind of policy also shifts the burden of proof from the insured, who no longer has to prove that the loss falls within the policy’s provisions on coverage, to the insurer, who must now establish that the loss falls within an exception to the policy. The other question we never fail to ask is how you arrived at your insured values, unlike other brokers or agents who will only ask you for a number and nothing more. In property insurance, which is subject to average condition or co-insurance depending on the percentage of under-insurance, this is crucial to being appropriately covered.
We are also capable of providing Contractors All Risks (CAR) insurance and Erection All Risks (EAR) insurance for construction projects and electromechanical works, respectively, where cover is also for all risks.
In many cases, we can also enhance your coverage with insurance for Sabotage and Terrorism, or with cover for Extra Expenses or Business Interruption so that income lost while the property is damaged or out of commission is recouped and can be channeled into getting your business up and running once more.
The bottomline? We take pains to get insured values right and to cover for all risks because we recognize that protection for your property also impacts your bottomline.
