Most ordinary insurance policies do not cover against earthquake damage. More
Risk Insurance – Builders, Financial, High Risk
Builders Risk Insurance
This type of insurance is used to indemnify the builder or construction firm against damage to buildings while they are undergoing construction. It usually covers such things as fire and vandalism but will not usually cover natural disasters.
Financial Risk Insurance
Financial risk insurance would cover a number of types of risk to your business and would include key person insurance, debt reduction insurance, guarantor protection insurance, tax and legal issue insurance and business expense insurance. Other categories of financial risk include credit and market risks, operational risks, liquidity risks and currency risks.
High Risk Liability Insurance
Some businesses run higher risks than others and require a higher level of liability insurance to protect against specific risks. Businesses that would benefit from having high risk liability insurance protection include building companies, scaffolding companies, welding contractors, tree surgeons, lumberjacks, roofers, and steel erectors and high rise window cleaning companies.
Other industries and employees that require high risk liability insurance include railway workers, power station employees, airport staff and demolition contractors. High risk liability insurance would cover employees, tools and equipment, plants and machinery and would also cover heat, height and depth work.
Risk Insurance – Other
American companies that relocate their staff to other countries will often secure Expatriate Insurance to cover their employees’ medical costs whilst they are oversees. Expatriate Insurance can also cover international auto insurance and personal property.
Kidnap and Ransom Insurance
Businesses and corporations with operations and interests in high risk locations may choose to take out this type of risk insurance to indemnify the company against personal accident loss caused by kidnapping. The policy also covers the reimbursement of the random paid, as well as paying for crisis management consultation.
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See the next page for more types of Risk Insurance.