Asset Protection

Protecting business assets such as buildings, machinery and stock is of paramount importance to any company. Without adequate funds to replace items lost, damaged or destroyed a business could be left in ruin.

Before even looking at what range of insurable perils are to be considered the selection of an adequate sum insured is essential. Whilst on the face of it this would appear to be an easy task the reality is that this is incredibly difficult as additional factors, other than just the reinstatement cost of an item it its existing form, need to be taken into account. For example when fixing a sum insured for a building the following costs have to be included:

• Shoring up costs and site security
• Site clearance and debris removal costs
• Architect, Surveyors and Professional fees
• Compliance with the latest buildings regulations resulting in an increased specification

Whilst all of these costs will generally be covered under a policy the sum insured must be adequate to cover them all in addition to the basic building work. We work with clients to help arrive at the correct sum insured and can also recommend specialists to assist in the process.

The range of perils which can be insured against is very wide and not just limited to obvious damage from Fire, Weather and Theft losses. Losses resulting from the following need to be considered:

• Subsidence
• Terrorism
• Electrical and Mechanical Breakdown
• Computer Virus Contamination
• Food Spoilage
• Loss of Metered Water

In addition polices are available to cover Latent Defects within buildings not insured under standard Property Policies

The scope of available cover is constantly changing and it is important to regularly review potential exposures and suitable insurance solutions.

For further information or a quotation please go to the enquiries page.