Comprehensive Brokerage and Reinsurance Services for Companies and Institutions

Property insurance covers against the consequences of loss, destruction or damage to property in the possession of the insured.
Cover may include:

• buildings, structures and premises
• machines, appliances, tools, equipment, including electronic equipment
• monetary values, securities and valuables
• capital expenditures
• current assets
• third party property in the custody of the policyholder under a legal title
• employee’s property and other assets

In the programmes we arrange, the insurance coverage is tailored to the risks to which the client's business is exposed. Depending on the option chosen, the insurance provides cover against:

• named risks - enumerated and defined in the contract of insurance, such as fire, lightning, explosion, flood, heavy rain and other or
• all risks, except for those strictly excluded in the contract of insurance

When developing an insurance programme, we always follow the rationale arising from an analysis of the client's needs - the scope of risk, the specifics of the business and other individual considerations. In addition to the coverage described above, property insurance is supplemented by, among other things:

• insurance against burglary and robbery
• insurance against vandalism, devastation, graffiti
• insurance of windows and glass objects against breaking

The main types of technical insurance available are:

• electronic equipment insurance (EEI)
• machinery breakdown insurance (MB)
• contractors plant and machinery insurance (CPM)/li>
• construction and erection all risk insurance (CAR/EAR)

To safeguard the interests of our clients, we offer the development of insurance programmes in the following areas.

Electronic equipment insurance (EEI)

This insurance offered to owners of all types of electronic equipment, from the most common personal computers to complex production control devices.
The insurance covers sudden destruction, damage or loss of the insured item, which can be any type of electronic equipment - stationary, portable or electronics in machines and devices - and provides all-risk coverage. The scope of insurance may be extended by a number of additional clauses, in particular:

• insurance for external data storage
• insurance for increased operating expenses (due to breakdown or loss of or damage to equipment)
• insurance for electronic equipment installed on aircraft, ships and vehicles
• off-site mobile equipment insurance
• insurance for image storage in photocopying devices
• insurance of damages caused by acts of terrorism, strikes, riots, civil commotions

Machinery breakdown insurance (MB)

The subject of insurance is machinery and devices in operation, at rest, as well as during repair and maintenance, assembly and dismantling, and during movement within the area of the insured site.
The insurance covers in the event of unforeseen events resulting from, among other things:

• design or construction errors or faulty workmanship by the manufacturer
• casting defects, material defects, assembly defects
• physical explosion, rupture due to centrifugal force
• operating errors, i.e. carelessness, negligence, operator error, etc.
• intentional destruction
• excessive pressure or temperature inside the machine or penetration of a foreign object
• failure or malfunction of safety devices
• short-circuit, insulation defect, overvoltage or other indirect effects of lightning

Coverage may be supplemented by insurance for loss of profit as a consequence of an insured machinery breakdown.

Contractors' plant and machinery insurance (CPM)

The subject of the insurance is construction machinery and equipment, as well as equipment, tools, furnishings and site facilities during operation, during storage and movement on the site, repair or overhaul, assembly and dismantling, loading and unloading.
The insurance is aimed primarily at construction contractors, as well as the agricultural industry, public services and concrete plants, and protects the finances of construction contractors who could suffer damage or destruction of elements of the machinery fleet.
This insurance covers, among other things, against:

• operating errors
• weather conditions (wind, rain or flood)
• burglary, vandalism
• overturning of property, collision with other construction machinery.

Insurance may include:

• machinery working underground
• machinery which operates on inland waterway equipment
• machinery for drilling water wells
• machinery during transport
• machinery outside Poland

Construction and erection all risk insurance (CAR/EAR)

It covers risks associated with the construction or erection process and aims to provide comprehensive insurance cover for investment projects.
Coverage includes damage caused on the construction site to the work, materials, installations, equipment and machinery that are the subject of the contract, and relates to fortuitous events related to both natural forces and human activity, including errors in design or problems with materials.
The insurance provides comprehensive coverage to all parties involved in the construction project, in particular: investors, contractors, subcontractors, manufacturers, suppliers of equipment and installations being installed, financing institutions.
The coverage may additionally include:

• damage to building sites, equipment, tools and appliances and construction machinery used
• third party liability for loss or damage arising in connection with construction work

With the growing importance of technology and the progressive development of cyber threats, we are increasingly faced with the need to take steps to safeguard against the impact of potential cyber incidents that could affect our business.
Every business, regardless of its size or industry, is vulnerable to cyber attacks. Even the most advanced systems and safeguards cannot provide 100% security.
Cyber insurance can help cover the costs associated with:

• data recovery - coverage for the cost of restoring data lost as a result of a cyber attack, such as ransomware or malware
• business interruption - compensation for lost profits and operating costs resulting from business interruption
• third-party liability - claims by third parties, customers or business partners that result from personal data leaks or other security breaches
• data leakage - coverage for customer notification, incident management and expenses related to breaches of data protection legislation (e.g. GDPR)
• administrative fines - to cover fines or penalties imposed by regulatory authorities for breaches of data protection legislation
• repair of IT systems - covering expenses for repairing IT infrastructure, removing malware and securing systems after an attack
• services of specialist firms - covering the costs of IT forensics and law firm services to help manage the consequences of a cyber attack
• incident response and reputation restoration - to cover expenses related to crisis management, including PR services to minimise reputational harm following a cyber-attack.e

Cyber insurance is therefore an important tool to protect yourself financially against the effects of cyber threats that can have a major impact on your business. While it does not guarantee the avoidance of an attack and damage, it allows the negative effects of an incident to be transferred to the insurer. The effects of cyber attacks and data breaches are excluded from cover in standard property and liability insurance. CYBER insurance is, in this respect, an important addition to standard business insurance cover.

Business interruptions caused by random events, natural disasters, machinery breakdowns, supply chain disruptions and even cyber attacks can expose businesses to significant financial losses.
These losses can occur in a variety of forms, ranging from a decline in sales, increased operating costs and costs incurred during unplanned downtime, increased labour costs, to the loss of future revenue streams due to a disruptive event.
Therefore, as a complement to our clients' property insurance, we create loss of profit insurance programmes tailored to the specifics of the industry and the needs of the entrepreneur.
The subject of the insurance is the lost anticipated gross profit that the insured would have made in connection with his/her business activity, had this activity not been interrupted or disrupted due to damage to property (e.g. fire, flood, damage to a production line or key machinery).
Compensation obtained under loss of profit insurance compensates for lost gross profit, increased business costs and costs incurred during unplanned downtime, even long-term, and provides the opportunity to restore the business to its pre-damage state if an unexpected, fortuitous event causes an interruption or disruption to the business.

Liability insurance is a key element of cover against business risks. It covers the consequences of unforeseen events that may lead to damage to third parties, which means that the person entitled to compensation is not the insured himself, but the person to whom he has caused damage.
Our liability insurance service is designed to comprehensively address our clients' diverse needs and the challenges they face.
We arrange programmes that take into account the client's comprehensive risk assessment, including, in particular, the industry and area of activity.
We develop insurance programmes that take into account:

• tort and contractual liability for business and use/ownership of property for damages in the form of actual loss, lost profits and so-called recourse contractual penalties
• product liability - insurance for damage caused by a product when it is placed on the market, and Product Recall - insurance for the costs of a product recall, covering the costs both of a compulsory recall (e.g. as a result of an order by a competent public authority) and of a recall following a decision by the manufacturer itself (where the recall is deemed necessary to avoid or counteract personal injury)
• personal and material liability including consequential damages and selected pure financial losses,
• the financial consequences of damage that may be caused in the exercise of professional activities, e.g. by architects and civil engineers, hauliers and freight forwarders, doctors, nurses and pharmacists, solicitors, barristers and notaries, and the insured of all trades exposed to this type of special liability
• inclusion of a number of individually selected additional clauses taking into account the specificity of the client, e.g. environmental damage clause, related to the release into the air, water or soil of hazardous, noxious or polluting substances, employer's liability, damage caused by failure to supply energy or supply of energy with inappropriate parameters clause, and many others
• territorial scope of cover, which, depending on the client's needs, may include damage caused anywhere in the world (including the USA and Canada).

Directors and Officers (D&O) insurance is an insurance product that covers managers. It was developed in response to the introduction of personal liability for corporate officers in legislation and jurisprudential practice.
Arranged through PWS Konstanta S.A., directors and officers’ liability insurance covers company management and supervisory bodies against financial losses arising from their direct activities if they are held liable by partners, shareholders, creditors or customers.
Company authorities’ liability insurance covers, among other things:

• members of the management board
• members of the supervisory board
• proxies
• chief accountant
• all employees exercising supervisory or management functions in the company
• the spouses and heirs of the aforementioned persons

The D&O policy covers these individuals in the event of claims for damages relating to their function, as well as providing cover for the costs of defending themselves in criminal, fiscal, administrative or civil proceedings, as well as the costs of public relations firms incurred by the insured persons in recovering their good name.

Motor insurance is a type of policy related to the ownership and use of vehicles. Compulsory insurance provides liability coverage for damage caused. Voluntary - helps to better cover vehicles and drivers and passengers against the consequences of adverse events, e.g. traffic accidents, mishaps, theft or accidents.
PWS Konstanta S.A. arranges insurance programmes for its clients for vehicle fleets (including buses, trucks, tractors, semi-trailers, special vehicles and others) and individual vehicles, covering the following insurance products:

• Third party liability of the owner of the vehicle in domestic and foreign traffic
• Car dealer's and driver's liability insurance
• Comprehensive motor insurance
• Assistance after an accident or breakdown
• Accidental injury for the vehicle driver and passengers
• Legal cover - organisation and coverage of the costs of legal protection for the vehicle owner and driver
• GAP insurance
• Extended Warranties for vehicles up to 10 years old

In addition to the above, we also arrange insurance programmes dedicated to rail transport operators, to whom we offer third-party liability and casco insurance for rail vehicles, covering vehicles such as trains, trams and subways. These insurances cover the consequences of damage to or total loss of vehicles as a result of accidents, fortuitous events or the actions of third parties, while ensuring the operational continuity and financial security of the company.
The insurances we arrange for carriers and rail transport operators provide crucial financial security for companies involved in passenger or freight transport and traction services.

In the modern economy, transport and logistics are key elements of supply chain management, enabling the efficient and effective movement of goods from producer to consumer. Within this area, PWS Konstanta S.A. offers comprehensive brokerage services to clients involved in logistics processes, including freight and contract logistics operators, carriers in all modes of transport, freight forwarders and warehouse operators.
We ensure that the programmes we create and the insurance solutions we recommend ensure the security of the entire supply chain and warehousing process.
As part of our offer, we provide insurance programmes covering:

• carrier's liability under contracts of carriage, protecting against claims arising from the transport of goods, and contractual carrier's liability, guaranteeing security for damage caused during the execution of transport orders; the cover includes in particular:
  • damage to or destruction of cargo due to fortuitous events, collision, inadequate securing of cargo or road accident
  • cargo theft during transport
  • delays in the delivery of the goods or breaches of the conditions of carriage resulting in financial loss to the contracting party
• Freight Forwarder's Liability, which covers the company against adverse financial consequences resulting from non-performance or improper performance of the forwarding contract; the insurance covers claims by the cargo owner or the principal to the extent specified in the contract
• possibility to extend the contract to cover damage:
  • in containers, pallets, platforms, packages and bins
  • arising from defrosting and failure to observe the transport temperature
  • which may give rise to claims against employees, persons connected with the undertaking, members of the family of the owners of the undertaking or entities linked by capital to the policyholder
• insurance of property in domestic and international transport (cargo), covering transported goods against damage, loss or theftące ochronę floty pojazdów wykorzystywanych w działalności przedsiębiorstwa.
• comprehensive insurance for means of transport, providing cover for the fleet of vehicles used in the company's activity

Taking into account the specific nature of industries such as aviation, shipping or shipbuilding, we cover risks for our clients such as:

• aviation insurance
• maritime and inland navigation insurance
• cargo
• third party liability, as well as
• other dedicated solutions related to your business.

In terms of aviation insurance, we arrange programmes covering both damage or destruction of aircraft during flight, take-off or landing, as well as liability towards third parties, passengers and contractors whose cargo is carried, and the consequences of accidents and personal effects of crew members.
Insurance cover may extend to all types of aircraft owned or operated by the insured and authorised to fly under the applicable legislation, and the scope of insurance may be extended to include other risks associated with air traffic handling and aircraft pilotage, as required.
We also offer insurance to ground handlers (e.g. airport operators servicing aircraft).
In the scope of maritime and inland waterway insurance, we arrange cover for both property (vessel insurance) and shipowners' liability in the event of damage resulting in liability towards third parties arising from the ownership and use of maritime and inland waterway vessels.
Liability cover includes liability for damage caused during and in connection with the use of the insured unit, in particular:

• damage to other vessels and their cargo
• damage to quays, locks, bridges and other fixed objects
• personal injury - bodily injury, damage to health or death of a person injured
• environmental damage

We also arrange:

• boaters‘ and skippers’ liability insurance,
• ucharter insurance
• yacht deposit insurance
• travel interruption insurance, cruise cancellation insurance, lost luggage insurance, flight insurance

Bonds have become an important part of economic life and are particularly relevant to the public procurement market.
Under an insurance bond, the insurance company assumes liability for the policyholder (client, principal, contractor) towards third parties (beneficiaries of the bond). For example, these may be the contractor's obligations under construction or supply contracts. PWS Konstanta S.A. provides its clients with insurance bonds within the framework of renewable bond limit contracts, as well as individual bonds within the scope described below.

1. Contract bonds
   • Bid bond - used at the tender stage. This bond is used not only with respect to tenders organised on the basis of the Act ‘Public Procurement Law’, but also with respect to each tender whose regulations provide for the possibility of securing its payment in the form of an insurance guarantee.
   • Performance bond - is a bond securing proper performance of contractual obligations by the Ordering Party.
   • Maintenance bond - is required of contract contractors and bonds the post-performance period and the fact that any defects and faults in the executed contract will be removed.
   • Combined construction bond is a combination of the two guarantees above.
2. Advance payment bond – secure the repayment of the advance granted by the Beneficiary in the event that the Principal fails to comply with the terms of the contract concluded with the Beneficiary.
3. Customs bond - the product is aimed at businesses trading in goods with foreign countries, intending, for example, to obtain deferment of payment of customs duties and border taxes, transit goods through the Polish customs territory.
4. Excise bond to guarantee coverage of one or more tax liabilities - is addressed to economic operators who, in connection with their activities, are obliged to lodge an excise duty bond.
5. Duty and other charges for operations under cover of a TIR Carnet bond - provides a surety for duties and taxes due, possible statutory interest, other costs and penalties arising from the TIR operation.
6. Rent payment bond - secures the payment of rent from the rental of property.
7. Environmental bond - is a security to be provided by the waste holder when applying for and during the process of applying for a permit/licence for the treatment, generation or collection of waste.

Trade credit insurance (also known as accounts receivable insurance) covers against bad debt losses and is dedicated to companies selling goods or providing services on a deferred payment basis at home and abroad.
When arranging trade credit insurance contracts, we provide our clients with industry-tailored solutions - so as to minimise or even eliminate trade risk. Trade credit insurance provides compensation that is paid to the policyholder for unpaid receivables for deliveries and services made on a deferred payment date (i.e. trade credit) within the period specified in the insurance contract. The insurance cover includes undisputed receivables up to the amount of:

• self-audit limits - for clients assessed by the policyholder
• established credit limits - for clients assessed by the insurer

The timely repayment of the capital associated with trade receivables has a direct impact on the liquidity and profitability of the company, and in this respect, receivables insurance provides:

• support in increasing sales to new or existing domestic and foreign customers
• access to the insurer's information system on customers' creditworthiness (in the form of credit limit decisions)
• complementary services to the policyholder's internal credit risk management process
• the possibility of offering customers credit terms without collateral
• reduction of provisions for bad debts, including debt recovery

We believe that people are the most important thing in any company, and caring for their safety and health is crucial to the operation and development of any business.
PWS Konstanta S.A. is involved in the creation of life insurance programmes, including group insurance and health insurance dedicated to employers, industry groups, local governments, trade unions and associations. In this area, we assist in the optimal selection of group life insurance and its subsequent implementation, as well as create proprietary programmes for many professional groups and industries.
We arrange for our customers:

• group life insurance implemented by workplaces and organisations to provide life cover and financial support in the event of ill health for their employees and their families
• programmes providing comprehensive cover in the event of serious illness for the insured and their family members, as well as being able to provide benefits for the insured in the event of illness or the death of their relatives (spouse, partner, parent, father-in-law and child)
• health cover, accident and sickness insurance, professional medical care programmes including cooperation with clinics, hospitals and private outpatient clinics, providing quick access to both general practitioners and specialists, as well as state-of-the-art diagnostic tests in renowned medical clinics in Poland
• programmes covering, in particular, outpatient treatment, medical consultations and care, medical emergency services, home visits, rehabilitation and specialised examinations

The above insurance programmes may be enhanced by:

• personal accident insurance, which protects against the consequences of unforeseen events
• insurance for medical expenses abroad in connection with both business and leisure trips
• specialised insurance providing the organisation of your stay and treatment and covering the costs of treatment in reputable medical clinics around the world in the event of serious medical conditions
• Assistance insurance ensuring organisation and covering the costs of services in the case of a sudden illness or an accident; the insurance can cover the costs of a visit to a doctor, nurse, psychologist, physiotherapist or a visit to a rehabilitation clinic; additionally, the Assistance can cover the costs of supplying basic foodstuffs, medicines and rehabilitation equipment