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Object and subject of insurance

The object of insurance is movable and/or immovable property that is owned by the insured or for which the insured is responsible.

The subject of insurance are damages to the insured property and/or expenses that are a direct result of the occurrence of the risks covered by the insurance.

The insurance can be concluded in favor of creditor bank.

Insurance coverage

Section A – Industrial Fire

Basic coverage

• Fire, incl. the consequences of extinguishing the Fire;
• Explosion;
• Implosion;
• Lightning strike directly hitting the Insured Property;
• Collision of aircraft (incl. its parts or cargo);
• Expenses for minimizing the damages resulting from an insured event made by the insured with due care.

If the insured property includes glass (including doors, windows, showcases, and other permanently installed glass) that are not explicitly described in the insurance policy, damages to the glass are covered up to the limit specified in the insurance policy are subject to compensation when they occurred as a result of a covered insured event. If the lenses are explicitly described in the insurance policy and an insurance amount has been agreed for them, the insurer's liability is up to its full amount.

Additional coverage

• One or more of the following risks may be covered by agreement:
• Natural disasters: Storm; Hail; Torrential rain; Flood; Weight from a natural accumulation of snow and/or ice; Freezing; Falling trees, branches and other external objects as a result of Storm and/or Hail.
• Earthquake;
• Leaks from piping
• Malicious actions of third parties, incl. vandalism;
• Damages during transportation in case of change of the address specified in the insurance policy in accordance with Institute Cargo Clause "A", provided that the insurer was given written advance notice.
• Vehicle impact (land or rail) or animal impact;
• The Vehicle impact (land or rail) or animal impact risk shall cover Damages to insured property caused by contact with a road or rail vehicle, or an animal.
• Short Circuit and electric shock;
• Sliding and/or collapsing of land;
• Accident in the course of loading and unloading works;

As well as part or all of the following additional expenses as a result of an insured event:

• for the removal of debris and remains; for cleaning the Insured Property from sediments as a result of a covered risk comprising a Natural Disaster  and for legally required dismantling or demolition of parts of destroyed or damaged insured property;
• for relocation, protection and storage of insured property for the period from the date of the insured event until the removal of its consequences, but for no more than 3 months.

The coverage for the glass explicitly described in the insurance policy can be extended on an "All risks" basis.

In addition to the insurance cover under Section A – Industrial fire and against the payment of additional premium, the Insurance may provide cover under Section B – Burglary and/or Section C – Loss of income or parts of them:

Section B – Burglary (optional)

Basic coverage

• Burglary pursuant to Art. 195, paragraph 1, p. 3 of the Penal Code       
• Damages to property caused by the perpetrators (incl. damage to partitions, doors and locking devices)   

Additional coverage

In addition to the Basic coverage one or more of the following risks may be covered:

• Theft committed using a technical means, within the meaning of Art.195, paragraph 1, p. 4 of the Penal Code as subject to indemnity are  also the damages to property caused by the perpetrators;
• Robbery under Art. 198 of the Penal Code as subject to indemnity are also the damages to property caused by the perpetrators

Section C – Loss of income (optional)

Insurance coverage under this section shall apply only for damages comprising losses and/or expenses occurred  as a result of a covered insured event under Section A – Industrial fire.

Basic coverage

Subject to indemnity are the damages, comprising by the insured, consisting losses and expenses from Business interruption.

Additional coverage

Compensation is payable for damages incurred by the insured, taking the form of Additional expenses - If the insured party's business is organized in a way where an insured event under Section A – Industrial fire does not lead to business interruption, but to increased expenses for it (additional costs), the difference in which these expenses  exceed the usual inherent expenses is covered.

The insurance coverage under Industrial fire insurance shall only apply to Damages occurring at the address where the insured property is located,  specified in the insurance policy.

Sum Insured

The Sum Insured for each section is agreed upon separately.

• For Section  A – Industrial Fire and Section B – Burglary the Sum Insured shall be defined in a manner consistent with Actual or Replacement value of the insured property.
• For Section C – Loss of income – the Sum Insured related losses result of Business interruption shall be defined according to the expected gross profit of the insured for a 12-month period, taking into consideration the existing trends for the development of the business over the term of insurance and in accordance with the maximum compensation period. The Sum Insured related losses resulting from the Additional expenses  shall be defined  in accordance with the expected amount of the additional expenses for the maximum compensation period.

Object and subject of insurance

The object of insurance is movable and/or immovable property that is owned by the insured or for which the insured is responsible.

The subject of insurance are damages to the insured property and/or expenses that are a direct result of the occurrence of the risks covered by the insurance.

The insurance can be concluded in favor of creditor bank.

Insurance coverage

Section А – All Risk of industrial objects

The insurance covers the damages incurred by the insured to the insured property and/or expenses, which are a direct result of any sudden, accidental and unforeseen event, incl. fire, explosion, implosion, lightning strike, impact from an aircraft (including parts of it or its cargo), storm, hail, heavy rain, flood, gravity due to natural accumulation of snow and/or ice, impact from a land vehicle or animal, malicious actions of third parties, incl. vandalism, and others, except for those explicitly indicated as excluded under the insurance contract.

Covered are also the following expenses which are direct result of an insured event:

• for minimizing the damages resulting from an insured event made by the insured with due care;
• for the removal of debris and remains; for cleaning the Insured Property from sediments as a result of a covered risk comprising a Natural Disaster  and for legally required dismantling or demolition of parts of destroyed or damaged insured property;
• for relocation, protection and storage of insured property for the period from the date of the insured event until the removal of its consequences, but for no more than 3 months.

If the insured property includes glass (including doors, windows, showcases, stands and other permanently installed glass) that are not explicitly described in the insurance policy, damages to the glass up to the limit specified in the insurance policy are subject to compensation when they occurred as a result of a covered insured event. If the glass are explicitly described in the insurance policy and an insurance amount has been agreed for them, the insurer's liability is up to its full amount.

In addition to the insurance cover under Section A – All Risk of industrial objects and against the payment of additional premium, the Insurance may provide cover under Section B – Burglary and/or Section C – Loss of income or parts of them:

Section B – Burglary (optional)

Basic coverage

• Burglary pursuant to Art. 195, paragraph 1, p. 3 of the Penal Code       
• Damages to property caused by the perpetrators (incl. damage to partitions, doors and locking devices)   

Additional coverage

In addition to the Basic coverage one or more of the following risks may be covered:

• Theft committed using a technical means, within the meaning of Art.195, paragraph 1, p. 4 of t Penal Code as subject to indemnity are  also the damages to property caused by the perpetrators;
• Robbery under Art. 198 of the Penal Code as subject to indemnity are also the damages to property caused by the perpetrators

Section C – Loss of income (optional)

Insurance coverage under this section shall apply only for damages comprising losses and/or expenses occurred  as a result of a covered insured event under Section A – All Risk of industrial objects.

Basic coverage

Subject to indemnity are the damages, comprising by the insured, consisting losses and expenses from business interruption.

Additional coverage

Compensation is payable for damages incurred by the insured, taking the form of additional expenses - If the insured party's business is organized in a way where an insured event under Section A – All Risk of industrial objects does not lead to business interruption, but to increased expenses for it (additional costs), the difference in which these expenses  exceed the usual inherent expenses is covered.

The insurance coverage under All Risk of industrial objects insurance shall only apply to Damages occurring at the address where the insured property is located,  specified in the insurance policy.

Sum Insured

The Sum Insured for each section is agreed upon separately.

• For Section  A – All Risk of industrial objects and Section B – Burglary the Sum Insured shall be defined in a manner consistent with Actual or Replacement value of the insured property.
• For Section C – Loss of income – the Sum Insured related losses result of Business interruption shall be defined according to the expected gross profit of the insured for a 12-month period, taking into consideration the existing trends for the development of the business over the term of insurance and in accordance with the maximum compensation period. The Sum Insured related losses resulting from the Additional expenses  shall be defined  in accordance with the expected amount of the additional expenses for the maximum compensation period.

What does this insurance cover?

Cash owned by or in care, custody and control of the Insured during its transportation from cash box to cash box. The product is intended to legal entities whose activity includes transportation of cash (banks, financial brokerage houses, exchange bureaus, collection companies).surance is subject to certain requirements for transport conditions depending on the single transit limit

Basic cover

It includes damages and losses of money as a result of robbery according to Art. 198 of the Criminal Code.

Coverage extension

The coverage may be extended to include damages due to robbery during acceptance, handover, transfer, loading or unloading in connection with the transport, and/or in case of fire in the vehicle as a result of a traffic accident by which the transport is performed.

Limits of liability

Limit of liability is set for a single transit and in aggregate for all transits during the policy period are agreed.

Insurance premium

It is calculated on the basis of the limits, experience, protection and security measures and other rating factors.