Property
Property insurance can protect the physical assets of your business and your future income. It can be arranged for defined perils such as fire, earthquake etc or on an “all risks” basis.
Property is considered to be a commoditized line of insurance, where basic cover is commonly available from many insurers and the premium rate is the only factor to consider in choosing your insurer. We strongly disagree with this approach.
Our Property clients find that we use the following parameters to enhance their Property program:
- Security: Insurers should have the financial strength to underwrite our clients’ risks.
- Coverage: Our Property policies take into account just-in-time logistics and losses from damage to neighboring property.
- Coinsurance: Cyprus based insurance companies are small. Due to lack of financial capacity they use reinsurance markets for support.
- This practice increases cost.
- We take control of this process and usually structure local coinsurance agreements involving a number of insurers. This ensures that the client gets the best possible terms and understands fully who will sign the cheque in case of a major claim.