Damage to property
Policies covering damage to property are tailored to the type of asset and the nature of the risk.
An asset can be insured against:
- Direct damage: such as fire, weather events, or theft.
- Consequential damage: like loss of income due to property destruction, or inability to work as a result of the destruction of the means of transport needed for the activity.
- Modern risks: including electronic damage to machinery and software.
In addition to traditional indemnity-based policies, parametric insurance offers a fast, transparent way to manage risks from natural hazards. Instead of reimbursing assessed losses, it pays out pre-agreed amounts when specific, measurable events - like extreme rainfall or wind speeds - occur.
Through its partnership with UNDP, Generali promotes parametric insurance as a tool to close the global protection gap, enhance financial resilience, and accelerate recovery. It also supports sustainable investment, making it a strong complement to traditional P&C coverage.