Frequently asked questions
IS THERE A LIKELY CONFLICT OF INTERESTS OF PERSONS WHO ARE OWNERS OF THE INSURANCE COMPANY AND AT THE SAME TIME OF THE AGENCY COMPANY?
PREMIUM Insurance Company takes all the necessary measures, that may be required to avoid giving any preferential treatment to any one business partner or client overanother and to avoid any potential conflict of interests.
PREMIUM INSURANCE COMPANY HAS SET UP INTERNAL PROCESSES AND RULES OF BUSINESS IN ORDER TO:
- always give priority to the legitimate interests of the client over the interests of the company,
- observe confidentiality,
- ensure equal treatment of all individual financial agents and business partners,
- observe compliance with all legal regulations
in order to ensure that the rights and legitimate interests of clients, individual financial agents and business partners cooperating with PREMIUM Insurance Company are not infringed.
PREMIUM INSURANCE COMPANY HAS SET UP INTERNAL PROCESSES AND RULES OF BUSINESS IN ORDER TO:
- always give priority to the legitimate interests of the client over the interests of the company,
- observe confidentiality,
- ensure equal treatment of all individual financial agents and business partners,
- observe compliance with all legal regulations
in order to ensure that the rights and legitimate interests of clients, individual financial agents and business partners cooperating with PREMIUM Insurance Company are not infringed.
WHAT BENEFITS DOES THE INSURANCE COMPANY OFFER?
- flexible insurance coverage/ insurance terms
- online access to the system + at the time of a potential claim
- assistance services for businesses
- potential profit share arrangementst under the policy
- AA+ rated reinsurers backing the contracts
- Highly skilled local team
- Small and nimble organisation without "the well-documented problems faced by the larger Insurance Companies”
- attractive commission for agents
- a Slovak insurance company
- online access to the system + at the time of a potential claim
- assistance services for businesses
- potential profit share arrangementst under the policy
- AA+ rated reinsurers backing the contracts
- Highly skilled local team
- Small and nimble organisation without "the well-documented problems faced by the larger Insurance Companies”
- attractive commission for agents
- a Slovak insurance company
WHO ARE THE OWNERS OF THE PREMIUM INSURANCE COMPANY?
THE OWNER OF THE INSURANCE COMPANY IS PREMIUM INVESTMENT GROUP S.R.O., THE SHAREHOLDERS OF WHICH ARE LISTED WITH THE REGISTER OF PARTNERS TO THE PUBLIC SECTOR:
https://rpvs.gov.sk/rpvs/Partner/Partner/Detail/9696
https://rpvs.gov.sk/rpvs/Partner/Partner/Detail/9696
WHAT PRODUCTS DOES THE INSURANCE COMPANY PROVIDE?
CURRENTLY, THE INSURANCE COMPANY OFFERS A RANGE OF INSURANCE PRODUCTS INCLUDING:
Property insurance – natural hazards insurance including ALL RISKS
Property insurance – theft and vandalism
Property insurance – Goods in transitr
Property insurance – Machinery breakdown – Machinery and electric equipment
Business Interuption arising from Property insurance and insurance of machinery breakdown
General liability insurance including:
Liability insurance for the damage caused by a product defect
Insurance of Directors and Officers D&O
Insurance of environmental risks
Professional liability insurance
Special Risksinsurance
Property insurance – natural hazards insurance including ALL RISKS
Property insurance – theft and vandalism
Property insurance – Goods in transitr
Property insurance – Machinery breakdown – Machinery and electric equipment
Business Interuption arising from Property insurance and insurance of machinery breakdown
General liability insurance including:
Liability insurance for the damage caused by a product defect
Insurance of Directors and Officers D&O
Insurance of environmental risks
Professional liability insurance
Special Risksinsurance
WHEN DID THE INSURANCE COMPANY COMMENCE ITS ACTIVITIES?
On 16 December 2016 the company was granted a license by the Finacial Services Commision and on 29 December 2016 it was registered with the Commercial Register as PREMIUM Insurance Company Limited,( pobočka poisťovne z iného členského štátu).
HOW DOES THE ADJUSTMENT OF INSURANCE CLAIMS WORK?
The adjustment of insurance claims is facilitated by TRACK CLAIM SLOVAKIA s.r.o., a company that operates a modern information system registering all activities associated with potential claim.
WHEN RESOLVING AN INSURED EVENT, TRACK CLAIM SLOVAKIA S.R.O., FACILITATES THE FOLLOWING ACTIVITIES:
- registration of the insured event,
- visual inspection following the insured event,
- calculation of the damage,
- supporting documentation,
Once completed, the file is sent to the insurance company that shall appraise the claim for payment and subsequently pay the compensation.
WHEN RESOLVING AN INSURED EVENT, TRACK CLAIM SLOVAKIA S.R.O., FACILITATES THE FOLLOWING ACTIVITIES:
- registration of the insured event,
- visual inspection following the insured event,
- calculation of the damage,
- supporting documentation,
Once completed, the file is sent to the insurance company that shall appraise the claim for payment and subsequently pay the compensation.
HOW IS THE COMPANY FINANCIALLY PROTECTED AGAINST LARGE CLAIMS?
The quality of reinsurance protection secured ensures the financial stability, solvency and capacity of the company’s operations.
Our reinsurance programme consists of companies with minimal rating of “A” granted by rating agencies Standard & Poor´s and AM Best. Hannover RE is the leader of our reinsurance programme along with other reinsurers VIG RE, Polish RE (FairFax).
OUR UNDERWRITING CAPACITIES ARE AS FOLLOWS:
- property insurance and technical risks EUR 15 000 000
- catastrophy risks EUR 10 000 000
- liability insurance EUR 5 000 000
Our reinsurance programme consists of companies with minimal rating of “A” granted by rating agencies Standard & Poor´s and AM Best. Hannover RE is the leader of our reinsurance programme along with other reinsurers VIG RE, Polish RE (FairFax).
OUR UNDERWRITING CAPACITIES ARE AS FOLLOWS:
- property insurance and technical risks EUR 15 000 000
- catastrophy risks EUR 10 000 000
- liability insurance EUR 5 000 000