Towns, cities, municipalities and parishes and their subsidiaries own a considerable amount of real estate, churches and valuable movable property. The property is subject to a variety of risks ranging from burglary, water damage and fire to breakage of moveable property. If property is damaged, the financial costs may be high and even disrupt continuity of operations. Property insurance tailored for the needs of public bodies protect continuity of operations effectively.
The real estate and movable property of public bodies can be insured against sudden and unforeseeable losses with a comprehensive Property risk insurance for public bodies (known as all risks insurance).
The property of public bodies can also be insured less comprehensively against fire, burglary, leakage, storm, electric phenomenon and the breakage of machinery and equipment serving a building. Sacral buildings and movable property can insured against such losses with Church Insurance.
Public bodies' property insurance policies can be made to include both the buildings and movable property, insured either at full value or for an agreed sum insured.