Responsibility for high-risk facilities

Obligatory insurance of civil liability of business entities for harm, which can be caused by fires and accidents at high-risk facilities.

What can be insured?

• The property interests of the insured, which do not contradict the law, are related to the indemnification of the insured by the insured for direct damage to third parties as a result of a fire and / or an accident at a high-risk facility.

What risks are covered by insurance?

• Direct damage to third parties as a result of a fire and / or accident at a high-risk facility.

Recommendations:

Responsibility for the transport of dangerous cargoes

A compulsory type of insurance covering the risk of liability that may occur when transporting dangerous cargoes.

What can be insured?

• Property interests that do not contradict the law are related to compensation for damage to life, health of individuals, the environment, property of individuals and legal entities during the transportation of dangerous cargoes in the manner prescribed by law.

What risks are covered by insurance?

• civil liability for damage caused as a result of an accident by dangerous cargo that has been transported or forwarded, which provoked death, injury, disability (for working citizens) of third parties, as well as complete loss or partial damage to property of third parties;
  
• responsibility for causing damage to the environment.

Recommendations:

Professional responsibility of customs brokers

Type of insurance that compensates for damage to third parties when providing customs brokerage services.

What can be insured?

• The responsibility of a customs broker for the damage caused to third parties as a result of improper performance of their obligations or violation of legislative acts in the provision of professional services.

What risks are covered by insurance? 

• loss (distraction), shortage or damage to goods, vehicles owned by third parties,
• violation of the terms of the declaration of data on goods and vehicles and their customs regime,
• incorrect and untimely accrual of customs payments,
  
• payment by third parties of overstated customs duties in respect of declared goods and vehicles,
  
• non-payment (incomplete payment) of customs payments in respect of declared goods and vehicles,
  
• non-observance of conditions and restrictions on the use and disposal of goods and means of transport in respect of which the customs clearance has not been completed, prior to their release or their submission to the third party submitted to the disposal in accordance with the chosen customs regime,
• confiscation of goods, vehicles, confiscation as a result of unintentional violations by the Insured of customs regulations,
• disclosure of information received from a third person submitted, which is commercial, bank secret or confidential information.
  

Recommendations:

Professional responsibility of legal companies, notaries, lawyers

Insurance of professional liability of legal companies, notaries, lawyers, allows to provide and protect the property interests of clients to a considerable extent.

What can be insured?

• property interests of the Insured related to the obligation of the Insured to compensate for damage caused to third parties as a result of their professional activities;
  
• costs incurred by the client-company in settling losses, in the case that a claim is brought against it for causing harm to third parties as a result of professional activities.
  

What risks are covered by insurance?

• unintentional professional errors (negligence, omission) in the performance of their duties;
  
• illegitimate interpretation of legislation;
  
• incorrect execution of documents (requests);
  
• failure to notify the client about the consequences of legal actions, which resulted from the client's legal ignorance of causing harm to the client;
  
• reasonable expenses (costs) for legal proceedings and settlement of losses (fees, lawyers who are not employees of the Insured, remuneration of experts, etc.).

Recommendations:

Responsibility of directors and managers (D & O)

D & O (Directors and Officers Liability Insurance)- voluntary type of insurance, which makes it possible to limit the amount of liability of the company's top management in the event of litigation directly related to the performance of their duties.

What can be insured?

•  responsibility of the company's top management (CEO, top managers, board members, independent directors) to owners, shareholders and third parties in case of claims for compensation of damage arising from management decisions and actions.

In case of occurrence of an insured event (a covered claim against directors, officers or a company), the following shall be reimbursed:

• Costs of escort and defense in court (legal costs);
  
• Associated expenses for investigation, restoration of reputation;
  
• Compensation for damage caused by a judgment;
  
• Compensation for damage caused by extrajudicial settlement.

Recommendations:

IT liability insurance

An innovative type of insurance that protects the IT specialist/company from errors in projects, products and more...

What can be insured?

• Professional activity under many contracts per year or one specific project in which you participate or lead it.
• The minimum term of insurance for one-time contracts with one customer is 3 months.
• There are two options for insurance coverage - Worldwide, including the USA and Canada, or Worldwide, excluding the USA and Canada.

What risks are covered by insurance?

• Direct financial losses of the customer (which can be calculated and confirmed) – losses due to an error at any stage of the project, for example: an error in the formulation of the technical task, in the project architecture or in coding (usually, in contracts, this type of insurance is defined as professional indemnity, errors and omissions or product/service liability insurance);

• Costs for investigating the circumstances, experts for damage assessment, pre-trial and court costs - full support of the client, assistance in negotiations, selection of necessary specialists, payment of the cost of their services, court costs (if necessary).

Recommendations:

Thanks to this product, we are one step closer to the status of a country with a European culture of insurance.

In addition, we recommend to insure your civil liability (in case of receiving a claim for compensation for damage to life, health/property of third parties caused during business activities), as well as employer's liability (covers losses due to damage to the life and health of employees).

Buy innovative insurance products only from proven and modern insurance companies. Send us an application for insurance and we will help you make the right choice.