Commercial and Financial Insurance
Cyber Security Insurance
What is Cyber Security Insurance? In the 21st century, the most valuable asset of a business is no longer the cash in its vault, but
Special Risks Insurance secures risks that lack coverage in the local market within international insurance markets.
Achieve global-scale protection with Panacea Insurance.
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Special Risks Insurance is a type of insurance that ensures risks that cannot be covered by standard insurance policies are secured through international reinsurance markets. For events that fall outside the scope of local markets or are in high-risk groups, facultative coverage is provided from global reinsurance centers, primarily Lloyd’s of London. In this way, companies and individuals can protect their specially qualified risks. Panacea Insurance offers a unique guarantee experience by collaborating with international insurance markets.
Reinsurance is the process where insurance companies transfer a portion of the risk they have undertaken to another insurance company. Thus, insurance companies reduce the financial impact of large and unexpected losses. For example, a film production may exceed the capacity of a single insurance company due to its high budget. In this case, Panacea Insurance creates a more comprehensive coverage by sharing the risk through reinsurance agreements.
Special Risks Insurance covers unusual or high-value risks that may be encountered in different sectors. Below are the most common types of special risks and their example scopes:
Film and TV series productions require significant costs and time planning. Therefore, any setback that may occur during the production process can lead to serious financial losses. Film Insurance secures equipment damage, set accidents, and actor illnesses that may occur during shooting. Panacea Insurance ensures projects continue uninterrupted with international reinsurance support. Actor and crew safety can also be enhanced when used together with Personal Accident Insurance.
There is always a risk of cancellation in organizations such as concerts, festivals, fairs, and sports events. When events are cancelled due to weather conditions, security problems, or unexpected legal restrictions, the organizer may face serious losses. Event Cancellation Insurance covers the expenditures made and the loss of income in such situations. Panacea Insurance offers comprehensive coverages for both local and international events.
Works of art possess priceless cultural and financial value. Fine Art Insurance provides protection against theft, fire, flooding, and accidents that may occur in museums, galleries, or during exhibition transport. Panacea Insurance creates special coverages for each work by collaborating with international reinsurance institutions such as the Lloyd’s of London market. This policy can cover not only the physical safety of the work but also the transportation process.
Auction houses are places where high-value artworks, antiques, or collection items are bought and sold. In this process, many risks exist during the display, transportation, or post-sale delivery of the work. Auction House Insurance secures all of these risks. Panacea Insurance ensures the safety of both the seller and the buyer side with special policies for auction houses.
All Special Risks Insurance policies are issued in accordance with the legislation determined by the Insurance Association of Türkiye (TSB) and the Insurance and Private Pension Regulation and Supervision Agency (SEDDK). Panacea Insurance carries out the reinsurance process with expert partners in international markets and generates facultative (individual) solutions for each policy.
Not every risk is the same. Therefore, standard insurance policies may not always be sufficient. Thanks to Special Risks Insurance, activities, projects, or valuable assets for which coverage cannot be found in the local market are protected by international reinsurance systems. Panacea Insurance generates special solutions for you by using its global network, regardless of the size of the risk. Get a quote today and have security on an international scale.
Special Risks Insurance is a type of insurance that ensures risks that cannot be covered by standard insurance policies are secured through international reinsurance markets. For events that fall outside the scope of local markets or are in high-risk groups, facultative coverage is provided from global reinsurance centers, primarily Lloyd’s of London. In this way, companies and individuals can protect their specially qualified risks. Panacea Insurance offers a unique guarantee experience by collaborating with international insurance markets.
Reinsurance is the process where insurance companies transfer a portion of the risk they have undertaken to another insurance company. Thus, insurance companies reduce the financial impact of large and unexpected losses. For example, a film production may exceed the capacity of a single insurance company due to its high budget. In this case, Panacea Insurance creates a more comprehensive coverage by sharing the risk through reinsurance agreements.
Special Risks Insurance covers unusual or high-value risks that may be encountered in different sectors. Below are the most common types of special risks and their example scopes:
Film and TV series productions require significant costs and time planning. Therefore, any setback that may occur during the production process can lead to serious financial losses. Film Insurance secures equipment damage, set accidents, and actor illnesses that may occur during shooting. Panacea Insurance ensures projects continue uninterrupted with international reinsurance support. Actor and crew safety can also be enhanced when used together with Personal Accident Insurance.
There is always a risk of cancellation in organizations such as concerts, festivals, fairs, and sports events. When events are cancelled due to weather conditions, security problems, or unexpected legal restrictions, the organizer may face serious losses. Event Cancellation Insurance covers the expenditures made and the loss of income in such situations. Panacea Insurance offers comprehensive coverages for both local and international events.
Works of art possess priceless cultural and financial value. Fine Art Insurance provides protection against theft, fire, flooding, and accidents that may occur in museums, galleries, or during exhibition transport. Panacea Insurance creates special coverages for each work by collaborating with international reinsurance institutions such as the Lloyd’s of London market. This policy can cover not only the physical safety of the work but also the transportation process.
Auction houses are places where high-value artworks, antiques, or collection items are bought and sold. In this process, many risks exist during the display, transportation, or post-sale delivery of the work. Auction House Insurance secures all of these risks. Panacea Insurance ensures the safety of both the seller and the buyer side with special policies for auction houses.
All Special Risks Insurance policies are issued in accordance with the legislation determined by the Insurance Association of Türkiye (TSB) and the Insurance and Private Pension Regulation and Supervision Agency (SEDDK). Panacea Insurance carries out the reinsurance process with expert partners in international markets and generates facultative (individual) solutions for each policy.
Not every risk is the same. Therefore, standard insurance policies may not always be sufficient. Thanks to Special Risks Insurance, activities, projects, or valuable assets for which coverage cannot be found in the local market are protected by international reinsurance systems. Panacea Insurance generates special solutions for you by using its global network, regardless of the size of the risk. Get a quote today and have security on an international scale.
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