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Axa, Generali, Allianz and more: that’s who Enel insures with

3 years ago babelfish

Axa, Generali, Allianz and more: that's who Enel insures with

In 2020 Enel signed insurance policies with Axa, Generali, Allianz and more. All the details

From Axa to Generali and Allianz: Enel takes out as many insurance policies as there are types of risk. There is also a Cyber ​​Risk policy. All the details

THE SUBSCRIBED POLICIES

The most important insurance coverage that Enel underwrites each year offer coverage "on damage to property and terrorism, on general and environmental civil liability, on employee accidents, on the transport of commodities and machinery as well as on the assembly of new renewable production plants ”, Reads Enel's responses to questions from shareholders at the last shareholders' meeting.

The group also specifies that “the breakdown by macro-area of ​​the annual bonuses relating to the programs mentioned, net of taxation that varies from country to country, is as follows: Europe: approximately 92 million euros; Rest of the World: approximately 78 million euros ".

DAMAGE TO OWNED ASSETS

In particular, as coverage for damage to property and terrorism, Enel relies on a pool of “international insurers (Generali, AxA, Agcs, Mapfre). The policy is issued by companies of the Generali Group ".

CIVIL LIABILITY

For general and pollution liability, the pool of international insurers entrusted by the energy group involves “Axa Xl, Generali, AIG, QBE, Chubb, Mapfre”. The policy is issued by companies of the Axa Xl Group.

CYBER RISK

Cyber ​​Risk coverage is “provided by a pool of international insurers (Allianz, Generali). The policy is issued by companies of the Allianz Group. ”, Explains Enel to shareholders.

THE DIRECTOR AND OFFICERS POLICY

"There are no policies in the name of the directors but only policies of which the directors are beneficiaries", explains the energy group: "Since November 2015, the Company has adopted – upon determination of the Chief Executive Officer, after examination by the Corporate Governance and Sustainability Committee and of the Board of Directors – of a “Directors and Officers” type of insurance coverage, by contracting a Master policy operating for Enel itself and for all the subsidiaries of the Group worldwide ”.

The coverage was stipulated with: Allianz Global Corporate & Specialty; QBE Insurance (Europe) Ltd; Swiss Re International; Generali Italy; Chubb Insurance Company; Tokyo Marine HCC; Beazley Syndicates 623/2623; Lloyd's underwriter Syndicate 1919 CVS; Lloyd's syndicate 1221 – Navigators. These have appointed AIG Europe Ltd – General Representative for Italy as leader and front-end issuer towards Enel.

"With reference to Enel, the limit (per claim and annual aggregate) insured by the aforementioned policy is € 157,500,000 to cover the following cases:

  • liability of the insured person (the insurer reimburses losses and expenses incurred by each policyholder – including legal fees – that arise from liability actions brought against him in connection with the performance of his functions, unless the Company to which he belongs has already indemnified by the insured himself). For Enel executives, the policy provides for coverage of the losses and expenses that each insured party may incur for actions brought against him, even in the event of gross negligence and / or damage to the Company. On the other hand, the Directors and Statutory Auditors of the Parent Company are excluded from the coverage of these last two cases, however they are left with the option of stipulating, at their own expense, a specific coverage extension issued by the same insurance panel for the two aforementioned cases. ;
  • reimbursement to the Company (the insurer reimburses the Company the sums that the latter pays by virtue of any indemnity issued in favor of the insured when the latter is concerned by liability actions brought against him in relation to the performance of his functions );
  • responsibility of the "outside entity directors" (in this case the coverage intervenes only in excess of each indemnity made by the "outside entity");
  • investigation costs;
  • security claims ”, explains Enel.

For 2020, the relevant cost, net of taxation (equal to 22.25% of the bonus), was equal to 601,458 euros, a "value that does not constitute a" fringe benefit "and does not contribute to the formation of employment income. of the beneficiaries, as per the Revenue Agency Resolution no. 178 / E of 9 September 2003 ".

SUBSCRIPTION

The group also specifies that the responsibility for underwriting and managing non-financial and social security insurance lies with the “Finance & Insurance” Unit of the Holding, part of the Administration, Finance and Control Function.

For the selection of insurance pools, Enel takes advantage of the expertise of brokers, who for 2020 were AON SpA, Marsh SpA and Willis Towers Watson SpA

This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/axa-generali-allianz-e-non-solo-ecco-con-chi-si-assicura-enel/ on Mon, 28 Jun 2021 06:18:17 +0000.