3 RISK FACTORS, INTERNAL CONTROL AND INSURANCE - Insurance
3.3.2 RUBIS TERMINAL (STORAGE)
22.214.171.124 INDUSTRIAL RISKS
• additional expenses and losses capped at €30 million per claim and per site; • business-interruption losses in the amount of €198 million, capped at 18 months’ business-interruption loses and a maximum of €150 million per claim. 126.96.36.199 CIVIL LIABILITY Rubis Terminal is covered, per claim and per year, for Operations for €150 million and for
Post-delivery for €100 million for all losses (including bodily injury, material and non- material damage). For environmental damage, coverage per claim and per year, all damages combined, is €25 million.
Coverage includes the following: • buildings, facilities, equipment and customer inventories in the event of fire or similar events, including terrorist attacks, for a total amount of €1,628 million with indemnity limits per claim and per site of €150 million and €50 million for product leakage;
188.8.131.52 SENIOR MANAGERS’ CIVIL LIABILITY
184.108.40.206 PECUNIARY LOSSES – KEY PEOPLE As a result of the Group’s international expansion, in countries where political and business risks may be significant, Rubis decided to take out a Pecuniary Losses policy insuring its subsidiaries against: • individual accident cover; • loss of key people; • decline in economic activity; • miscellaneous pecuniary losses; • failings by suppliers and customers; • epidemic/pandemic; • product withdrawal or declassification;
• material and/or non-material damage caused by natural events; • environmental and biodiversity risk; • recourse against a partner; • dereferencing; • transportation issues; • reputational damage; • regulatory change and liability guarantee; • cyber.
Senior Managers of Rubis and of its controlled subsidiaries are insured, as are Senior Managers of designated 50%-owned joint ventures. The policy covers the financial consequences of damage resulting from any claim involving the individual or joint and several civil liabilities of the insured and attributable to any professional misconduct committed by such insured in the performance of their management duties. The maximum amount of cover is set at €15 million per year for front-line insurance, €10 million per year for second-line insurance and €25 million per year for third-line insurance, all losses combined.