Fire, Earthquake, Flood and Other Property Insurance
In residence, workplace, factory, hotel, warehouse, stock, machinery and other asset insurance, the link between the cause of the loss and the scope of the policy is decisive. Fire, earthquake, flood, storm, hail, water damage, theft, machinery breakdown, electronic equipment damage or other risks may be subject to different limits, deductibles and special conditions within the same policy.
In this scope:
- DASK and voluntary earthquake coverage
- Fire and additional coverages
- Flood, water damage, storm, hail and landslide
- Theft and allegations of breach of trust
- Building, fixtures, merchandise and stock losses
- Underinsurance, overinsurance and co-insurance
- Debris removal, reconstruction and price increase clauses
- Machinery breakdown and electronic equipment damage
- Loss of rent, business interruption and loss of profit
- Cause of loss, technical examination and appraisal reports
- Denial, underpayment of compensation and recourse claims
are examined. The scope of DASK and that of a residence or workplace policy are not the same; the ranking of compulsory and voluntary coverages and the sharing of the loss are determined on the basis of the policies.
Business Interruption, Loss of Profit and Income Protection Insurance
Where physical damage stops or reduces a business’s operations, not only the physical loss but also, if the conditions are met, gross profit, fixed expenses, additional working costs and the period of interruption of operations may become the subject of a dispute. A loss of profit policy is often tied to physical damage within the scope of coverage; the waiting period, the indemnity period, the trend and growth effect, saved expenses and alternative business possibilities matter in the calculation.
In these files, financial records, production and sales data, reservations or orders, prior-period performance, measures taken after the loss and an independent financial review are assessed together.
Construction, Erection and Technical Insurance
Construction all risks, erection all risks, machinery breakdown, electronic equipment and project-related liability insurance can create a multi-layered structure among the project owner, main contractor, subcontractor, supplier, financing institution and other project parties.
Our work in this area:
- Definition of the insured and inclusion of the project parties in the policy
- Construction or erection period and maintenance period
- Exclusions for design, material, workmanship and manufacturing defects
- Existing structure, surrounding property and third-party losses
- Delay, advance loss of profit and business interruption coverages
- Cause of loss, technical report and repair method
- Recourse relationships of the contractor and subcontractor
- Connections with the letter of guarantee, surety and building completion insurance
- Consistency of the project contract with the policy provisions
Related practice area: Construction Law and Construction Litigation
Agricultural Insurance and State-Supported Systems
In crop, greenhouse, livestock life, aquaculture, beekeeping and other state-supported agricultural insurance, the policy, the tariff and instructions, the risk assessment, claim notification, appraiser determination, loss of yield or quality, exclusions and the scope of support are examined. Separating the agricultural loss from the risk within the scope of the policy may require a meteorological, veterinary and agricultural expert assessment.
Three Separate Files in a Company Loss
Physical damage, business interruption and liability to third parties may rest on separate policies. The cause of the loss, the start of coverage, the deductible, the waiting period and the sum insured are read together. In the business interruption calculation, recorded income, continuing expenses and the link between the loss and the interruption are assessed with financial experts.
Do not confuse DASK with other policies
Compulsory Earthquake Insurance is a limited cover for damage to the building. Claims such as contents, loss of profit and business interruption are not within this scope; if there are separate policies, their conditions are examined. DASK and voluntary insurance files may have different counterparties and documents.