Protecting your assets
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Protecting Your Assets. Insurance for the Diplomatic Community. Martin Koles Aquilan Worldwide Risk Management LLC 131 Alta Ave., Yonkers, NY 10705 718-830-5311; [email protected] Scope. Why you need insurance. What types of insurance are available.

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Protecting your assets

Protecting Your Assets

Insurance for the Diplomatic Community

Martin Koles

Aquilan Worldwide Risk Management LLC

131 Alta Ave., Yonkers, NY 10705

718-830-5311; [email protected]

Protecting your assets


Why you need insurance

What types of insurance are available

How much insurance is required important to have for special circumstances

Strategies for getting the best coverage and price

Protecting your assets



(let the buyer beware)

Protecting your assets

Insurance Policy

Insert Eagle Logo

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Certificates of Insurance

For Information Only

Insurance Company

Who is Insured

Types of Insurance

How Much Insurance

How Are You Protected

Policy Period

Description of Operations

Your Name and Address

Protecting your assets

Common Exclusions

Designated Premises

Contractual Limitation

Medical Payments

Water Damage

Mold & Mildew


Wind or Hail


Insurance industry performance

Insurance Industry Performance

Why you need insurance

Why You Need Insurance


Autos - Workers Compensation


Premises Lease - Leased Equipment


Buildings – Homes – Contents – Art - Extra Expense


Your Possessions


Defense and Indemnification

Protecting your assets

Property Insurance










Snow & Ice

Protecting your assets

Property Terms

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Valuable Articles

All Risk Worldwide

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Liability Insurance

Protecting your assets


Persons enjoying immunity from the jurisdiction of the host country’s laws are nonetheless obligated to respect those laws.

While you may have full criminal immunity and may not be arrested, you can be sued.

Does not extend to your landlord.

Protecting your assets

If you lease premises, your landlord will require liability protection as a condition of occupancy.

If you lease equipment, the lessor will require loss protection.

Don’t sign any lease until it is reviewed by your attorney and insurance representative.

Protecting your assets

Sample Simple Lease

Liability Insurance

Tenant shall obtain and keep in full force and effect a policy of comprehensive general public liability and property damage insurance on an occurrence basis with a broad form contractual liability endorsement. Such policy shall provide that Tenant is named as the insured. Landlord, Landlord’s managing agent and any Lessors and any Mortgagees shall be added as additional insureds. Such policy shall include a provision under which the insurer agrees to indemnify and hold Landlord, Landlord’s managing agent, and such Lessors and Mortgagees harmless from and against all cost, expense and/or liability arising out of or based upon any and all claims, accidents, injuries and damages.In addition, the policy will not be cancelled by the Tenant unless replaced on the same date, without any lapse in coverage, with an insurance policyoffering protection to the Landlord and the named insureds in accordance with the provisions of this Lease. In addition, upon receipt by Tenant of any notice of cancellation or any other notice from the insurance carrier which may adversely affect the coverage of the insureds under such policy of insurance, Tenant shall immediately deliver to Landlord a copy of such notice. The minimum limits of liability under the policy of insurance required to be carried shall be a combined single limit with respect to each occurrence in an amount of not less than $5,000,000 for injury (or death) to persons and damage to property, which amount shall be increased from time to time to that amount of insurance which in Landlord’s reasonable judgment is then being customarily required by prudent landlords of first-class non-institutional office buildings. All insurance required to be carried by Tenant pursuant to the terms of this Lease shall be primary and be effected under valid and enforceable policies issued by reputable and independent insurers permitted to do business in the State and rated in Best’s Insurance Guide, or any successor thereto as having a general policyholder rating of “A” and a financial rating of at least “VIII”.

to protect the landlord

against all claims and damages


$5 Million

on a primary basis

with a reputable insurance company

Protecting your assets

Commercial Lease Pitfalls

Overly restrictive language

Excessive Limits of Insurance

Impossible Conditions

Outdated Terminology

Illegal Practices

Protecting your assets

Auto Insurance


Applies to business autos and individual owned autos.

Protecting your assets

The Auto Policy

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Workers Compensation

Protecting your assets

Special Circumstance Insurance



Art Shows


Builder’s Risk

Protecting your assets

Personal Insurance

Protecting your assets

Strategies for Success

Insurance companies have no loyalty to you

Agents vs Brokers

Evaluate your needs and design the policy you need

Bring on the competition

It’s not just the cost- negotiate coverage

Protecting your assets

Insurance for the

Diplomatic Community

  • Caveat Emptor

  • Read Your Policy

  • Required for Autos, Leases, Certain Workers

  • Recommended for Offices, Homes, Possessions

  • Provides Legal Defense

  • Engage Competition

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