Construction technical branch, equipment and machinery breakdown

Technical branch insurances include those that mainly require the continuous intervention of engineers to be underwritten. They are also appointed under the name of Engineering Insurances. A pool of this type of policies is defined by the period of duration of coverage; these are mainly annual renewable agreements that will provide coverage against: Caldrons and vessels under pressure, machinery breakdown, equipment required by contractors, heavy mobile machinery and electronic equipment. It is also possible to cover the loss of incomes arising in consequence of delays in the building process due to an insured risk (ALOP- Advanced Loss of Profits). There is a second group defined by the fact that coverage ends after delivery of the project. Under this insurance, good performance of the machinery, devices and installations of the project and construction are covered, until project is handed to the owner and after the trial period is over. Coverage includes: machinery assembly, civil works in process of construction and finished civil works.

Gross profits might be covered if, in consequence of a loss occurrence, the insured sustains the risk of loss of incomes.

Securities, monies, armoured transportation and works of art

This policy provides coverage against the theft or loss of cash, security titles and other negotiable instruments, such as bank drafts, promissory notes, cheques, shares and other debt instruments.

Basic coverage is made of two parts; the first includes all risks inside the premises, considering theft of safe boxes or safe-deposit vaults and cash registers, as well as the resulting material damages. Losses or damages to property due to fire and/or explosion are covered. On the other hand, basic coverage implies any loss occurrence that takes place off the premises; that is to say, the loss, damage or theft of the goods in transit. Hence, jewelleries, pawn houses and commercial businesses require this type of insurance coverage.

Regarding the works of art, “nail-to-nail” coverage is considered, which means that coverage is effective as of the moment the piece is unhooked from the point of origin, during the period in transit and until it is again relocated at the new spot. This coverage is attached by museums or carriers specialized in works of art.

Civil, Professional and Product Liability

The liability insurance policies is intended for businesses or firms that, in the development of their activities, might be susceptible to generate damages to third parties, either personally or materially. Damages to third parties arising due to the business activities taking place will be covered, same as the real property used in the business operations. Basic coverage is extended to grant protection against potential legal claims the insured might receive as result of any loss occurrence. It is likewise possible to get additional coverage: Tenant insurance, Cross Liability, Cargo loading and unloading actions, Parking Lot Accidents, Contractors, Pollution and Contamination, etc.

A Professional Liability Insurance is designed to cover businesses or individual professionals, such as lawyers, physicians or managers in the performance of their professional activities, in response to claims that might be filed against them.

The Products Liability Insurance protects against claims from damages caused to third parties due to a defect or malfunction of the products manufactured, distributed or sold by the insured. This coverage is intended to protect the insured from any economic consequence that might give rise to liabilities resulting from property damages, bodily injuries or damages to third parties just from the mere use, property or existence of products traded, or in circulation in the market; either by the insured business or through third parties, both in Mexico or abroad.

Air, Marine and on land Cargo

Under this policy, both the means of transportation and the goods stowed are covered. This insurance will indemnify the owner of transport vehicles because of the damages and losses these might sustain from accidents in the performance of their operations (material damages, collisions, liability, damages to goods, etc.). Damages or injuries that the crew might likewise suffer in consequence of the said transportation accidents are covered.

Should the merchandise in transit do not arrive on timely basis, in consequence of occurrence of a covered peril and, therefore, commencement of works or assembling processes are delayed, the loss of profits will be indemnified (DSU- Delaying start up).