Contingency Risks
In some cases contingencies exist that require special insurance consideration.
MARNIX are expert at devising specific product solutions for unique situations and contractual needs. Tailor-made policies are what we do.
The most obvious and established contingency coverages address Contingent Business Interruption
Contingent Business Interruption is an extension simply where a business revenue may be dependent on key third party suppliers or services and the absence of these will have a direct impact on the performance of the insured's business. In this situation coverage can be extended under the Property policy to include additional risks to revenue on a specified basis.
Under Power Purchase Agreements, there are often additional requirements and charges that also need to be insured and these can be included as contingencies. Sometimes these may include certain performance related damages and extra costs.
Other forms of general Contingency coverage include Cancellation and Abandonment of Events coverage, competition-related Prize Indemnity and promotional Over-Redemption for the more of sales and marketing aspects of business.
MARNIX are experienced in arranging these insurances and can advise you on the precise product and service you may require to suit your business needs.