Aviation
Coverage for aircraft and helicopters of private use or for commercial and industrial companies. Covering the total or partial loss of the hull and third-party liability, such as those transported (passengers, luggage and cargo), those not transported (third parties on the surface) and Aeronautical Personal Accidents (crew positions).
Bancassurance
Due to our connection to all the international insurance and reinsurance markets we can identify insurances being developed in other countries. Through the support of our suppliers we can offer the capacity, advice, pricing, and consultancy to our cedants and retroceding insurers, so that they can offer it in their different sales channels. Such coverage ranges from unemployment, home care, cyber home, data protection, etc.
Construction & Engineering
Builder’s risk insurance covers material damage suffered during the construction of architectural or civil engineering works. These are temporary policies (duration of the work). If desired, floating policies are available for professional fitters. In addition to the construction work itself, construction equipment such as scaffolding, huts, tools, etc. can also be covered by the construction insurance. As well as construction machinery, such as cranes, excavators, compressors, but not trucks and other vehicles. Also included: Personal effects of employees and workers; Debris removal costs; Extinction expenses; Overtime and urgent shipments in case of loss; Damage to pre-existing property.
Cyber
Although this type of risk may seem complex and only affecting governments and large companies, it is SMEs that are most vulnerable to cybercriminals. For this reason, all companies should consider hiring coverage against cyber-attacks and cyber risks: malware, DDoS attack, ransomware, etc.
At present, there is no uniformity in the offer of this type of insurance, although it might be argued that there are two types of coverage: Cyber Liability which covers damage to third parties, incident management, investigation, and notification to the affected parties. Direct loss or own damage as a result of a cyber-attack, including damage caused to the company due to malware, such as ransomware, exploit, DDoS, etc. Legal aspects in case of domain theft, defamation, etc. Companies should hire cyber-attack coverage for several reasons: – Constant increase in the number of cyber-attacks to companies; – SMEs are the target of 70% of cyber- attacks; – Spanish companies are among the most vulnerable to cybercrime; – Coverage for the cost of recovering stolen data; – Compensation for losses and expenses arising from cyber-attacks; – Containment of reputational crisis.
Energy
Covers operational risks that may affect different types of activities related to the production of conventional and renewable energy. Covers possible damages that threaten physical assets, such as facilities, equipment, and machinery, among others. It also includes coverage for economic damages, protecting against economic losses that may arise from the effect of physical damage that paralyzes or interrupts plant operations. Both All Risk and/or a comprehensive and emerging Liability Insurance can be purchased. Some examples of the activities are: Hydropower Generation, Thermal Generation, Wind Power Generation, Solar Power Generation, Refineries, Petrochemicals, Gas Pipelines, Oil Pipeline, Chemical Plants, Fertilizer Plants, Pulp & Paper Plants, Oil & Gas Storage Terminals.
Financial Lines
In an increasingly sophisticated financial and commercial context, companies are at risk of suffering losses through new criminal activities. The traditional threats of theft and robbery were exceeded by white-collar crime, especially cybercrime, whose main impact is suffered by the customers of the Company or Financial Institution. The different categories of crime coexist with each other and the type of industry or the size of business no longer matters.
For this reason, we have designed a comprehensive coverage for criminal activities that adapts to new forms of crime without neglecting the traditional ones. This program is divided into several sections and takes into account the typical crimes of Employee Dishonesty, Embezzlement, Forgery, Computer Fraud, Theft, Errors and Omissions, Directors and Managers Liability, as well as more sophisticated coverages, such as Internet Hacking, Social Engineering, Cyber Fraud and Cyber Extortion, among other criminal acts.
Life & Health
Life insurance for protection during difficult circumstances, especially for family relatives so that they can face the future without worries and contingencies. We also cover the health risk for highly complex surgical interventions.
Liability
The Comprehensive Liability and Specific Risks coverage protects the organization’s assets against claims from third parties for the development of its activity. Covering at the same time risks arising from the possession, use, operation and/or exploitation of a certain asset, such as livestock, antennas, towers or signs, among others, as well as extending coverage to expenses for removal of defective goods.
Personal Accidents
This coverage includes personal injuries suffered by a person in the event of an accident or in the event of death caused by an accident, either in the course of their private life or their professional activity. We cover any type of activity, such as professional sports, and high-risk activities, such as diving, skiing, mining, etc.
Professional Indemnity
In recent times, legal actions against professionals and institutions have increased in frequency and severity making this product a necessity for the protection and continuity of professional careers.
This insurance protects the assets of the professional against the need to respond to a claim or demand made by a client due to liability arising from facts, acts or omissions made with fault or negligence during the exercise of the profession.
Property
This coverage is intended to compensate the insured for material losses directly suffered in an asset of his patrimony. All types of risks are covered, subject to a list of exclusions. It can be extended to cover machinery breakage, interruption of services (loss of profits) as well as access interruption, inter-dependence, extension to customers and suppliers.
Contingency & Special Risk
Contingency coverage offers the possibility of insuring commitments, compensation or economic indemnities acquired with third parties, at the time of organizing any type of event. Accordingly, contingency insurance is hired in relation to the event organization in order to protect possible economic damage if, as a result of something unexpected (contingency), the event cannot take place. The typology is extensive and varied, the most common are: Suspension/Cancellation of musical, cultural, recreational events, etc. Cancellation of trips. Risk of something uncertain and difficult to happen (such as introducing the golf ball in a hole in one shot, popularly known as “Hole in One”).
The excess of gifts for the success of a commercial campaign. Bonus or prizes to players for team results (promotions, achieving a ranking). Or individually, awards to elite athletes for achieving a target. These are some examples of contingency insurance in the insurance market, but there are many more.
Specie
Specie or valuable goods coverage is a niche product that protects valuable assets, such as cash, bullion, diamonds, works of art, valuable documents and even cryptocurrency. Whether they are on site, at a third-party location or in transit. Coverage is normally provided on a full risk basis for physical loss or damage. The main risks covered include damage or loss caused by natural hazards such as fire, flood and windstorms, as well as theft or physical damage. Typically, Bullion/Precious Metals are covered in their purified form, from the extracted ore up to the refineries, storage in a bullion bank. Diamonds and precious stones: large diamonds are rare and incredibly valuable just like bullion and precious metals. Also, large amounts of cash and valuable goods in armored vehicles which approach banks and other financial institutions. Works of art including pieces of artistic media, manuscripts, ceramics, historical artifacts, textiles, books and more. Cryptocurrency can also be covered under Specie and is one of the emerging risks being offered by reinsurers. Digital coins are produced through mathematical mining, rather than being struck by extracted metals as with physical coins, they are also attractive targets for theft. Cryptocurrencies present a new form of risk, and reinsurers are prepared to provide protection to clients.
Terrorism
Covers loss or material damage caused by an act of terrorism or sabotage. An act of terrorism means an act or series of acts, including the use of force or violence, by any person or group(s) of persons, whether acting alone or on behalf of, or in connection with, any organization(s), committed for political, religious or ideological purposes including the intention to influence any government and/or to create public fear for such purposes. It is also considered an act of sabotage and a subversive act or series of such acts committed for political, religious or ideological purposes, including the intention to influence any government and/or to cause fear in the public for such purposes.
Marine Hull, Cargo & Liability
This service covers navigation risks that may affect a ship or other vessels, such as sailing boats, speedboats, dinghies, self-propelled boats, non-self-propelled boats (dredgers, floating cranes, etc.) and other means of navigation. Among the main navigation risks, the following can be mentioned: total loss of the vessel, shipwreck, boarding, fire, natural events, etc.
With respect to cargo, the services offers coverage for damage to goods transported by air, land or sea from the moment the transport vehicle, with the goods covered by the insurance already loaded, is set in motion towards the agreed destination; it is maintained during the ordinary course of transport, including stops, stays and normal transfers and ends with the arrival of the vehicle at the final destination.
Office Details
Reconquista 656 11 A. C1003ABN
Buenos Aires, Argentina
T +54 (11) 4311-1582
sec01@www.thbregional.com
SSN
National Superintendence of Insurance (SSN)
www.argentina.gob.ar/ssn
+ Registro SSN N° 073