{"id":11103,"date":"2024-06-01T15:50:55","date_gmt":"2024-06-01T13:50:55","guid":{"rendered":"https:\/\/www.bazzipartners.it\/prodotti-assicurativi\/assicurazione-proprieta-e-attivita-aziendali-property\/"},"modified":"2025-06-17T17:37:43","modified_gmt":"2025-06-17T15:37:43","slug":"property-and-business-activity-insurance","status":"publish","type":"prodotto-assicurativ","link":"https:\/\/www.bazzipartners.it\/en\/prodotti-assicurativi\/property-and-business-activity-insurance\/","title":{"rendered":"Property and business activity insurance"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><strong>Main Characteristics<\/strong><\/h3>\n\n\n\n<ul>\n<li>Protection against material damage to property and equipment<\/li>\n\n\n\n<li>Includes extended coverage for interrupted operations following an incident<\/li>\n\n\n\n<li>Tailored coverage for the specific sector and type of business<\/li>\n\n\n\n<li>May be extended to include extraordinary and catastrophic events<\/li>\n\n\n\n<li>In recent years, <strong>Property<\/strong> policies have gained increasing importance due to the rise in damages caused by natural events. This trend can be attributed to an increase in the frequency and severity of natural disasters owed to the influence of climate change, which have a significant impact on both the insurance sector and policyholders.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Increase in Claims for Damage Caused by Natural Events<\/strong><\/h3>\n\n\n\n<p>According to the IVASS report of 2024, gross premiums for insurance coverage of natural disaster risks account for 6.6% of gross market premiums, with 86% of these premiums related to climate events. In 2022, premium collection for coverage against climate related risks increased by 16% over the previous year, totalling 2.12 billion euros. Meanwhile, the cost of claims increased by over 10%, with a substantial proportion of these costs attributable to hail damage. In particular, 72% of the value of claims related to climate events are attributable to hail damage, with a loss ratio of 111%.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Implications for the Insurance Sector<\/strong><\/h3>\n\n\n\n<p>The rise in claims related to natural events has had numerous consequences for the insurance sector:<\/p>\n\n\n\n<ul>\n<li><strong>A change in the approach of insurance companies:<\/strong> To address the increase in claims for compensation, insurance companies are raising their rates for property policies and also applying a much more technical approach to the assumption of financial risk; as a consequence, it is extremely important that the risk placed on the insurance market is adequately mapped.\u00a0<\/li>\n\n\n\n<li><strong>Redefinition of Coverage:<\/strong> Insurance companies are revising their underwriting protocols in order to limit their exposure to the risk of frequent catastrophic events, which could lead to a reduction in the protection offered to property owners.\u00a0<\/li>\n\n\n\n<li>\u00a0<strong>Public Sector-Private Sector Collaboration:<\/strong> There is a growing need for partnerships between the public and private sector to develop innovative insurance solutions, such as parametric policies, which offer more appropriate coverage for today\u2019s emerging climate related risks.\u00a0<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>The Challenges Faced by Policyholders<\/strong><\/h3>\n\n\n\n<p>Increased premiums and potential reductions in coverage present significant challenges to property owners and businesses. It is essential that policyholders:<\/p>\n\n\n\n<ul>\n<li><strong>Assess their effective insurance needs carefully<\/strong>, considering their exposure to risks specific to their geographic area.<\/li>\n\n\n\n<li><strong>Implement appropriate risk mitigation measures<\/strong>, such as systems offering protection against adverse weather events, to reduce both the possibility and severity of damage.<\/li>\n\n\n\n<li><strong>Maintain ongoing communication with insurance companies<\/strong> to keep their policies up to date and ensure effective coverage that meets their evolving needs and adapts to changes in the environmental scenario.<\/li>\n<\/ul>\n\n\n\n<p>In conclusion, the effects of climate change call for a pro-active approach from both insurance companies and policyholders. Property policies must be capable of adapting to new risk scenarios to offer more effective and sustainable coverage in a context of increasing environmental uncertainty.<\/p>\n","protected":false},"featured_media":0,"template":"","attivita":[289,307,308,311],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Property and business activity insurance - Bazzi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bazzipartners.it\/en\/prodotti-assicurativi\/property-and-business-activity-insurance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Property and business activity insurance - Bazzi\" \/>\n<meta property=\"og:description\" content=\"Main Characteristics Increase in Claims for Damage Caused by Natural Events According to the IVASS report of 2024, gross premiums for insurance coverage of natural disaster risks account for 6.6% of gross market premiums, with 86% of these premiums related to climate events. 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