Financial Risks Insurance

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Description

Insurance cover for financial losses following a fortuitous incident.

What's Covered

Business Interruption

The loss of revenue that your business may incur as a consequence of material loss or damage is coverable under a Business Interruption Insurance. Although the scope of contingencies covered follows that of the material damage insurance policy, there are several extensions that may be arranged to cater for specific business interruption exposures.

Increase in Cost of Working

Compensation is provided against additional costs that your business incurs as a consequence of a material loss in an effort to minimize the ensuing potential loss of profits or revenue. This policy is generally arranged in cases where loss of profits may not necessarily directly materialize following a material loss claim, such as in the case of certain service providers.

Advance Profits

This cover is designed to cater for the loss of revenue exposure that is faced by a new business in the event of the occurrence of material damage that delays its planned commencement of operations.

Money

The cover provides compensation against loss of money in transit, whilst on your premises or in a bank night safe. The policy may also be extended to provide personal accident assault benefits.

Fidelity

This policy protects employers against financial loss resulting from fraud committed by their employees. Coverage may be arranged on named basis, on category basis or on open cover basis.

Key Contacts

Mark Scicluna

Associate Director

ACII

Julian Paul Caligari

Assistant Divisional Director

ACII - Chartered Insurance Broker

Frequently Asked Questions

What can be insured?

Any income or financial exposure as long as being of a lawful nature.

On what value is the property usually insured for?

This is customarily based on the estimated gross profit. This is calculated to cover the period the business can return to the same level of income prior to the loss. This period which is referred to as the indemnity period can range from one month to two years.

What is generally excluded?

Losses caused by or attributable to:

  • Property Damage
  • Inherent vice
  • Interruption triggered by the authorities
  • Pandamics
  • War and Terrorism

Renew Insurance

To effect renewal you may:

Pay over the internet using APS, BOV or HSBC Internet Banking and quoting the payment reference appearing on your renewal notice

Call on +356 234 33 234 and provide us with your Credit Card or Debit Card details

Send a cheque payable to Mediterranean Insurance Brokers (Malta) Ltd. by post

Visit our offices and talk to one of our advisors