Insurance

When an investor is considering starting an operation in Mexico and is addressing insurance and bonding needs, we recommend the following coverage:

I. Initial Stage; Before leasing or building a facility

Coverage:

  • Tourist Automotive Policy (individual, fleet, blanket) This kind of policy provides the following coverage:
    • Upsets and collisions
    • Theft of vehicle
    • Civil liability/bodily injuries
    • Civil liability/property damage
    • Medical expenses for the occupants of the injured vehicle
    • Legal assistance and bail bond
      • Full coverage a) to f)
      • Limited coverage a) to b) to f)
  • Performance bonds Bonds are required to ensure fulfillment of contractual obligations by the contractor when building a facility.
    • Bid bonds
    • Advance payments
  • Builders risk Coverage

II. Second Stage; Installation and commencement of operations

  • Installation and machinery moving (All Risk)
  • Quality assurance bonds

III. Third Stage; Operations Start-up

  • Property insurance
    • Covered risks:
      • Fire and/or lighting
      • Explosion
      • Hail and windstorm
      • Aircraft, vehicles and smoke
      • Snow and water damage
      • Flood
      • Strikes and vandalism, riots, malicious mischief
      • Leakage of fire protection equipment
      • Earthquake and volcanic eruption
    • All Risk Includes all of the above and other coverage
  • Consequential Losses
    • Salaries and fixed expenses
    • Loss of earnings
    • Loss of rents
    • Extra expenses
    • Contingencies when applicable
  • General Liability
    • Premises and operations
    • Tenant liability
    • Products and completed operations
    • Contractual
    • Independent contractors
    • Non-owned automobiles
    • Tourist automobile liability
    • Resident automobile liability
    • Rented automobile liability
    • Employer negligence
    • Loading and discharging
    • Pollution (sudden and accidental)
  • Crime insurance
    • Theft with violence and/or assault
    • Money and securities
    • Fidelity bonds
  • Transit coverage
    • Inland
    • Ocean cargo
    • Airfreight
  • Contractors Equipment
  • Machinery Breakdown
    • Bailers and pressure vessels
    • Electronic equipment
    • Other

Each new investor must prepare a risk management analysis with the selected agent or broker, in order to properly design the most appropriate program.