Forest insurance

Forest and Timber Insurance

27% of Romania’s total surface area, 25% of Bulgaria and 34% of Czech Republic are covered by forest. Roughly half is commercially planted trees representing significant investment. Forest fires, wind and disease are real risks that cause severe loss and economic damage.

Insurance penetration for forest remains surprisingly low. CertAsig is pleased to present its new forest insurance product, fully reinsured by Lloyd’s Syndicates.

What is covered?

Standing timber located in Romania, Bulgaria and/or Czech Republic, all species considered


Insured risks

What perils are covered?

CertAsig provides core cover for:

  • Fire, Lighting, Explosion and Aircraft Impact

Additional perils which can be included on discretionary bases and per country cover for:

  • Catastrophic Natural Events (Landslide and Flood)
  • Windstorm, Hurricane, Typhoon, Cyclone, Localized Windstorm and Extra Tropical Storms
  • Hail, Frost, Snow and Ice Storm
  • Strike, Riots, Malicious Damage and Civil Commotion
  • Rainfall Deficiency
  • Theft
  • Fire-Fighting Expenses
  • Loss Mitigating Costs
  • Debris Removal Expenses
  • Aerial photography costs
  • Claims preparation costs
  • Re-Establishment costs
  • Protection and Preservation of Property Extension
  • Plantation Infrastructure

Underwriting capacity:

  • In excess of EUR 10,000,000 total sum insured per client basis subject to geographic distribution
  • First loss limits can be considered to reduce premium
  • Sub-limits for extended perils

Typical clients - who may need this cover?

  • Independent forestry owners
  • Commercial forest enterprises (Pulp and Paper manufacturers)
  • Saw log producers and Timber merchants
  • Real Estate Investment Trusts
  • Timber Investment Management Organisations
  • Forest Management Organisations
  • Agricultural Banks providing loans or finance for forestry owners
  • Alternative Investment Management companies
  • Regional forest owners Associations

mihai_bizineche

MIHAI BIZINECHE
Chief Underwriting Officer

+4021 311 9104
+40 733 107 323
mihai.bizineche@certasig.ro

Catalin Chioveanu

CATALIN CHIOVEANU
Chief  Forestry Property & Engineering Underwriter

+4021 311 9104
+40 723 500 873
catalin.chioveanu@certasig.ro

Petitions/complaints lodged against the company CERTASIG SA and lodget with the Financial Supervisory Authority last 3 months are total of 2 (two). Their structure can be found by visiting the dedicated page here

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