Overview
Worldwide Difference in Conditions (DIC) insurance is one means
of protecting against the risks not covered in either an All Risks
or a Named Perils policy. Such a policy typically covers against
perils of nature and aims to remove the risks that commercial
enterprises face in connection with their daily activities.
All Risks Insurance provides comprehensive coverage for the risks
which properties around the world are exposed, whether they arise
from perils of nature or human acts.
Combined with effective underwriting and risk management, this
coverage is designed to protect firms from the financial burdens
that arise from loss of, or damage to, property and resulting
business income, replacing uncertainty with risk transfer and the
assurance of our policy coverage.
Details
Coverage
Financial loss as a result of physical
damage to buildings, contents, machinery, equipment and stock, as
well as losses reducing business turnover caused by insured
perils.
We will pay these losses
Subject to the terms and conditions of the
policy, we will pay for losses arising from flood and earthquake,
but could include wind, collapse, or sprinkler leakage. At Beazley
we always define the DIC perils.
Limits
available
Up to US $20,000,000 any one risk
Target market
Includes commercial real estate, municipal
properties, electronics, grain, mining, retail, railroads, steel,
power generation and utilities
Key
territories
- North America
- Europe
- South East Asia
- Australasia
- Caribbean
- South Africa
Information needed to obtain a
quote
- Values at risk
- Schedule of locations and details of their
occupancy
- Risk mitigation
- Construction of buildings
- Survey reports
- Loss record
Your premium indication is based on
- Nature of business activity
- Geographical scope
- Sums insured
- Proposed deductibles
- Loss record
- Quality of risk management
- Extent of policy form and coverage