Financial Risks Insurance
Contractor's bond
Lately the necessity of contractor's bonds insurance has arisen much more often. It especially concerns smaller companies that act as subcontractors. Usually there is a separate clause in an agreement that concerns bonds insurance. By issuing such a policy, Insurer assumes responsibilities to compensate losses when Assured seizes their activities (for example, because of bankruptcy), without fulfilling all their contractual obligations.

    Credit Insurance
    • Credit Insurance protects Assured against unforeseen losses because of insolvency of their clients. It works, if Assured does not get payment for delivered goods / services rendered.
    • Directors and Officers Liability Insurance (D&O). This insurance is intended for a management of a company against possible lawsuits from third parties because of erroneous actions and decisions of officials. Under D&O policy an insured event is a damage to shareholders, employers, competitors and third parties due to errors and omissions while fulfilling official responsibilities.
    • Political Risks and Contract Frustration. Unpredicted political and economic situation may lead to huge losses. This kind of insurance is intended for traders, importers, exporters. Such a policy is often required by banks that finance business activities. Political Risks Insurance does not usually cover losses caused by „force majeure", for example natural catastrophes. An insured event takes place when it is impossible to fulfils obligations under a contract (for delivery of some raw materials) due to confiscation of goods, nationalization or expropriation of property, war, strikes and civil commotions.

    © 2019 Kominsur Kindlustusmaakler OÜ
    Kominsur / Estonia
    Kominsur Kindlustusmaakler OÜ

    info@kominsur.ee
    +372 66 44 388

    KOMINSUR / Russia
    LLC "Kominsur Insurance"

    info@kominsur.ru
    8 (812) 604 00 44

    KOMINSUR / Latvia
    Kominsur Kindlustusmaakler OÜ

    riga@kominsur.lv
    +371 67 582 203

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