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No-fault liability in the case of fire and explosion

Property

You are legally required to take out insurance if you operate a ‘place accessible to the public ’. This insurance protects your company against any claims by third parties for physical and material damage they suffer as a result of a fire or explosion.

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Contact: Jan Braekman
  • Property

    Storm op komst!

    De weersvoorspellers kondigen voor de komende uren hevige rukwinden aan. Een verwittigd man (of vrouw) is er twee waard! Enkele nuttige tips: sluit...
    31 January 2022
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  • Transport insurance

    LiabilityTransport

    The likelihood of goods being damaged or lost during transport is greater than most companies realise. Your goods can be seriously damaged owing to all kinds of factors, such as the time a journey lasts, goods moving or being displaced during the trip, theft and bad weather. It is a mistake to think that transport operators always bears the costs of this damage. So who is liable for your damaged goods? And what part do international agreements play in settling claims concerning your transported goods? Keep control of your transport insurance rather than leaving your suppliers or buyers to take charge of your goods.

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    As in the case of other classes of insurance, transport cover makes a distinction between ownership and possession. Ownership is protected via material damage insurance, possession via liability insurance. Basics Transport operators are not always aware of the value of the goods being transported. Nor do they know what liability they are assuming through the transport agreement. The law provides various limits on financial liability by way of CMR conventions. CMR conventions reimburse the damage incurred according to the weight (roughly €10 per kilogram) and not according to the actual value of the merchandise. If your company makes ultra-light but costly computer chips, you will not receive any compensation for the damage suffered. In the event of damage during transport, it is not at all easy deciding which parties are liable so that your company may have to wait for a long time before being reimbursed for the damage incurred. Goods insurance offers your company further financial protection against transport risks. Your goods lose their value in transit in the case of damage or theft. Costs are incurred to prevent impending damage or to limit damage that has already occurred. It might also be a question of vessel, freight or cargo maintenance costs (general average). Not to mention the risks for your merchandise in the event of strikes or the risk of war. Goods insurance covers all in-transit costs, including loading and unloading. It takes account of the type of transport, the packaging and the type of merchandise due to be transported and the destinations. Two types of goods insurance 1. A goods insurance policy is taken out according to the chosen terms and conditions of delivery or Incoterm. If you transport goods only occasionally, it is reasonable to take out insurance on a per-shipment basis, opting for a one-off or optional policy. 2. A selected-transactions policy is a better alternative if you transport goods regularly. You may choose between a turnover policy or a declaration policy. ADD has developed a selected-transactions policy with specific clauses. Apart from the extensive insurance conditions companies also have opportunities for: trade fairs/exhibitions; contingency insurance ( insurance in the interests of the purchaser, in the interests of the seller) storage, even in their own storage facilities, plants, … participation in the favourable outcome of the selected-transactions policy 

  • Fraud insurance

    LiabilityR&D

    Theft of data, misappropriation of funds, malpractices involving company cars and petrol cards, ... your company is vulnerable to fraud in many areas. Fortunately, the damage is sometimes limited but often that is not the case. Hence the need to take out fraud insurance.

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    Some companies with a high staff turnover or in the midst of a difficult restructuring process are definitely susceptible to fraud lurking behind the scenes. However, all organisations have to take this issue into account. The more complicated an organisation is, the higher the risk. Anywhere where ICT is business critical, damage caused by fraud is lurking around the corner. What does fraud insurance cover? Fraud is particularly annoying because the damage has a direct impact on your business performance, while shattering confidence in your company and hurting your reputation. Fraud insurance has to face up to the risks. That is why we advise you to opt for a policy that covers any material loss caused by fraud, including the costs incurred for restoring your company's image and other resulting damage. The coverage applies starting from the day when the fraud is discovered. You may extend the cover with insurance for the investigation costs, data reconstruction costs, crisis management and communication, ...