EXEL industries - 2019 Universal Registration Document

Management report 3 Insurance

Insurance

3.7

In 2019 the Group continued its policy of centralizing insurance programs by taking the specificity of the Group’s activities into account, in order to ensure: „ a consistent transfer of risks; „ harmonization of the conditions for cover and deductibles; „ the best prices; „ optimization through economies of scale. The Group will continue its policy in France and abroad in 2020 by: „ guaranteeing better risk coverage by incorporating all the Group’s subsidiaries into the existing insurance programs;

„ increasing guarantees where required; „ reducing costs notably through car insurance when the Group considers this to be expedient; „ setting up new insurance programs to cover risks which have not been covered up until now and which it is expedient to cover. We will ensure that the main accidental or operating risks are transferred to the insurance market whenever possible, and that the risk transfer is justi fi ed economically. Our insurance policy takes changing risk models into account, risk assessment, market conditions and the available insurance capacity.

The table below summarizes all areas currently covered by Group Insurance:

Insurance

Main cover

All risks subject to named exclusions

Property damage and business interruption (International Program)

Civil Liability (International Program)

All risks subject to named exclusions Including the following coverage: „ civil liability for operations; „ post-delivery or post-work civil liability.

Directors and O ffi cers’ liability (International Program)

Coverage for claims of liability against Executive and corporate o ffi cers.

Coverage for vehicles under 3.5 metric t (period < c 5 c years). Vehicles < c 5 c years old are insured for liability/theft/ fi re/all accident damage. Coverage for vehicles over 3.5 c metric t (period > c 7 c years) and excluding farm tractors. Vehicles > c 7 c years are insured for civil liability/theft/ fi re.

Automobile fl eet

Cover for employees using their personal vehicle for business trips.

Employee vehicle coverage

Individual accident and assistance insurance for employees on business trips (in France and the international market).

Individual accident and assistance insurance

Coverage for agricultural equipment loaned or made available. Coverage for testing new agricultural equipment.

Professional comprehensive insurance (vehicle c driving risks)

Comprehensive coverage of merchandise, products and equipment in transport by any mode throughout the world (except excluded countries). Credit risk coverage on the receivables of the Group’s companies resulting from the delivery of merchandise and the provision of services or work.

Transport insurance (Prog. Intal)

Credit insurance (Prog. Intal)

Exceptional items and litigation

3.8

To the best of the Company’s knowledge, no exceptional items or litigation exist for which provisions have not been recorded that could have a material adverse e ff ect on its business, fi nancial position or assets and liabilities.

There are no other legal, judicial or arbitration proceedings (including any that are pending or threatened of which the Company is aware), which may have or have had during the last 12 c months, a material e ff ect on the fi nancial position or pro fi tability of the Company and/ or Group.

EXEL Industries Group I 2019 Universal Registration Document

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