New carefree package for SMEs
Zurich has been breaking new ground in property insurance since 2019. The package is specially designed for SMEs. That’s because in their cases, even minor incidents can have major consequences.
Things often get hectic for SMEs. There is little room for maneuver when incidents occur, because even a small mishap can have major consequences if it throws operations into disarray. Major incidents such as burglary, water damage or even a fire, can have consequences that even threaten a company's existence. For example, production could be interrupted for days or even weeks on end.
This is why Zurich has launched its "Zurich property insurance", a type of comprehensive insurance for SMEs. Through its agency sales Zurich therefore offers a carefree package of this kind to all corporate customers, even very small companies. The solution includes the basic coverage fire/ natural hazards, water, burglary and glass breakage, as well as additional protection against damage, destruction and loss. In addition, Zurich property insurance with its modular structure can be adapted to further specific needs of any company.
If the cooling system fails
Two examples: Due to a technical defect in the cooling system, the temperature in the cold storage room of a butcher's shop rises to 20 degrees. All of the meat has to be disposed of. Value of the goods: CHF 40,000. Zurich will cover the loss if you have coinsured the additional module for deterioration of stock (spoilage). The same applies to office electronics: A management consultant's laptop drops to the floor while on the way to the next sales appointment. The display is shattered and a repair costs CHF 1,000. Thanks to comprehensive insurance coverage, Zurich leaves it up to the customer whether to replace the display or use the amount paid out to purchase a new laptop.
"We wanted to develop a simple and comprehensive solution for SMEs," explains Ralph Echensperger, Head of Claims at Zurich. "With Zurich property insurance we have succeeded in doing so." The new approach is decisive: "The company no longer needs to insure every single object, but – simply put – is insured against everything that's not explicitly excluded," emphasizes Ralph Echensperger. "As a result, customers are also protected against risks of which they were not really aware."
In this way, Zurich property insurance can be compared with comprehensive insurance for motor vehicles. "Moreover, the modular structure ensures that we can meet all individual customer needs," says Echensperger.
Cyber protection can also be part of Zurich property insurance. If a virus blocks access to a business's data, Zurich arranges for a specialist to reconstruct the data and also check the entire system. The business does not have to worry about the CHF 10,000 in costs. These are paid by Zurich.
Zurich property insurance with the All Risks option is the perfect carefree package for SMEs. Or as Ralph Echensperger puts it: "For a small surcharge, SMEs can get the best insurance coverage in Switzerland!"
