Special Risks
Special Risks
Risks Not Appeared in the Balance Sheet
Some of the risk is not in physical assets; accumulates in decisions, data and contracts. These lines are not managed with ready-made package policies, but with company-specific conditions.
In special risk lines, the mechanism that comes into play at the time of the event is as decisive as the collateral itself. We consider legal defense, crisis communication and technical intervention items as part of the collateral structure.
- Company specific specification and negotiation
- Intervention mechanism activated at the time of incident
The real value along these lines is who is involved in the first forty-eight hours of the incident.
Scope
Coverage Scope
Directors liability (D&O)
Personal liability of board members and senior managers due to their duties.
cyber risk
Data breach, ransomware and system outage response costs and third party claims.
Professional responsibility
Protection against professional malpractice claims in engineering, consulting and technical services.
Product liability and recall
Damages arising from the product placed on the market and the costs of the recall operation.
Financial institution guarantees
Protection against the risks of employee disloyalty, fraud and electronic crime.
Artwork and private collection
Comprehensive guarantee based on the value of the work during collection, exhibition and transfer processes.
Key Risks
What We Watch in This Area
Data and System Outage
The contractual sanctions of the outage often exceed the direct cost of repair.
Personal Liability
Claims against executives' assets are not covered by company policies.
Recall
The logistics and reputation costs of the operation require a separate guarantee title.
How is it determined?
Data Determining the Specific Risk Construct
- Management structure, decision mechanisms and partnership relations
- Compensation and confidentiality obligations undertaken by contracts
- Data inventory, system dependencies and supplier access
- The geography where the product or service reaches and the law it is subject to
- Past request, warning and review records
- Preparation of the legal and communication team that will be activated in the event of an incident
How We Work
Private Risk Placement in Four Steps
Risk Definition
We define risk by examining the activity, contracts and decision-making mechanisms.
Specification
Instead of a ready-made template, we create company-specific guarantee and exception text.
Negotiation
We collect quotes in the local and international markets and negotiate the terms line by line.
Incident Moment
We manage the notification and ensure that the response and defense team is engaged.
FAQ
Frequently Asked Questions
The company purchases the policy, but the protection is for the managers' personal assets. The company's compensation liability may also be included as a separate section.
Coverage varies depending on policy terms. The most decisive factor in practice is that the incident response team is activated in the first hours and business interruption loss is covered.
Generally, in three cases: when the contract stipulates collateral when entering a new market or tender, when it is realized that there is no collateral after an event occurs, and during due diligence in partnership/investment processes.
Package policies are written with the logic of physical damage; The risks here are based on demand and liability. They often appear as clear exceptions to general conditions; therefore they must be established with a separate policy.
Do You Have a Need in This Area?
Let's assess your risk together and build the coverage structure around your needs.