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Preventing or mitigating losses in three steps
Preventing or mitigating losses in three steps Make sure the terms are clear before signing a contract with a customer. You should let your SERV client advisor know right away if you become aware of any [...] you the best possible support during this phase and you can work with SERV to avoid or mitigate the loss, you should not supply any further goods or services without checking with us first. It is important [...] More information about the entire indemnification procedure and claims management can be found in Loss and Claims Management of SERV . Indemnification in three steps Questions? Contact: Claudia Oberle
https://www.serv-ch.com/en/services/imminent-loss-and-occurrence-of-an-insured-event/preventing-or-mitigating-losses-in-three-steps/
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Occurrence of an insured event: What to do when a claim arises?
point, losses should be avoided or minimised. SERV can advise you on which measures you can take to avert loss, so that you don’t find yourself in a tricky situation. Maintaining good relations with your customers [...] proceedings are initiated against the debtor Preventing losses in three steps What should you do if an insured event occurs? SERV defines a loss as the occurrence of an insured risk and the expiry of the [...] Imminent loss and occurrence of an insured event Has the buyer not paid for your delivery, or is it refusing to accept it? This can make things difficult for you. To ensure it doesn’t get to that point
https://www.serv-ch.com/en/services/imminent-loss-and-occurrence-of-an-insured-event/
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Information_Schaden-_Forderungsmanagement_e.pdf
Pre-Loss Management SERV’s loss management begins in the pre-loss phase. Accordingly, a distinction is drawn be- tween pre-loss management and the actual handling of losses. The aim of pre-loss management [...] com The basis for loss management are art. 17 to 19 SERVG and art. 17 SERV-V. These provisions lay down the rights and obligations of policyholders and of SERV in the event of a loss. They are sup- plemented [...] management is to avoid the occurrence of loss or to reduce its scope in close cooperation with all parties involved through corresponding measures. If there is a loss, SERV processes indemnification applications
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Information_Schaeden_e.pdf
under the applicable law if a loss oc- curs (it may help to obtain legal opinions when meeting registration obligations, for example); – that provisions are made to avoid losses, e.g. – in the choice of payment [...] insured event occurs. The policyholder, in other words, bears the documen- tation risk. Imminent loss A loss is assumed to be imminent if the foreign party or a jointly liable third party materially breach- [...] 's main duties in case of an imminent loss are to: – continue to take all reasonable measures, according to prevailing circumstances, to mitigate or prevent loss; – notify SERV in writing without delay
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Indemnification in three steps
take recourse, recovery and loss mitigation measures in consultation with us. SERV may contribute towards the cost of certain measures (e.g. taking legal action). The loss information sheet contains detailed [...] processes. Preventing losses in three steps Questions? Contact: Claudia Oberle Head of Claims & Recovery +41 58 551 5566 E-Mail Download vCard Download vCard Additional documents loss information sheet
https://www.serv-ch.com/en/services/imminent-loss-and-occurrence-of-an-insured-event/indemnification-in-three-steps/
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Contract bond insurance
Contract bond insurance Contract bond insurance protects Swiss exporters from losses caused by a customer calling a contract bond (usually a bank guarantee) that was furnished to secure the exporter’s [...] pre-shipment risk insurance and does not have to be insured separately. Contract bond insurance covers the loss of the guaranteed sum if the foreign customer legitimately calls the guarantee because the exporter [...] contract. The guaranteed sum is even covered if the customer unfairly calls the guarantee and the loss is not reimbursed within three months. Contract bond insurance may be supplemented by a Counter Guarantee
https://www.serv-ch.com/en/services/for-swiss-exporters/contract-bond-insurance/
Repayments are realised claims from losses, i.e. payment receipts after payment of the indemnity in the event of a loss. Recoveries associated with credit balances from debt rescheduling agreements or
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Glossar
Risk-bearing capital (RBC)
SERV-V, provisions for losses not yet incurred must be shown as equity items. The RBC is determined by means of an actuarial model taking into account all asset portions at risk of loss. The respective value
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Confiscation risk insurance
Confiscation risk insurance Confiscation risk insurance protects Swiss exporters from losses due to confiscation or similar measures taken by foreign countries. It covers the exporter’s prime costs for [...] such as providing contractual services, storage, exhibitions or testing. The insurance can cover losses due to political risks or force majeure risks. Maximum cover ratio: 95% Product details Questions
https://www.serv-ch.com/en/services/for-swiss-exporters/confiscation-risk-insurance/
in valuations. It is calculated to absorb the losses that would ensue if a drop of one grade on the internal rating scale was sustained by claims from losses and restructuring, by credit balances from debt
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