Generali Business (Negocio) Insurance Policy Conditions (English Translation)

Information Clause ↑ top

This clause fulfils the insurer's duty to inform under Article 96.1 of Law 20/2015 and Article 122 of Royal Decree 1060/2015. Insurer: GENERALI España S.A. de Seguros y Reaseguros, registered office Pl. de Manuel Gómez-Moreno 5, 28020 Madrid (CIF A-28007268; Madrid Mercantile Registry, sheet M-54.202). Supervisor: the Directorate-General for Insurance and Pension Funds (DGSFP). Complaints: Generali's Claims & Complaints Service (Pl. de Manuel Gómez-Moreno 5, 28020 Madrid; reclamaciones.es@generali.com) resolves within two months; you may then escalate to the DGSFP (Paseo de la Castellana 44, 28046 Madrid) or go to the courts. Applicable law: Law 50/1980 on Insurance Contracts, Law 20/2015 and RD 1060/2015.

Key concepts & definitions ↑ top

Terms used throughout the policy:

• Policyholder (Tomador) / Insured (you): the person or company that takes out the insurance and owns the insured interest.
• Building / premises (Continente): the commercial premises and everything permanently fixed to it, plus any reform works carried out by a tenant where insured.
• Contents (Contenido): made up of furniture & fittings (Mobiliario y ajuar) — the equipment, installations and furnishings used for the declared activity — and stock/merchandise (Mercancías) — the products and supplies of the business.
• Works of art & special objects: items worth over €3,000 each (or as a set); any single special object worth over €6,000 must be declared separately to be insured.
• Robbery (Robo): taking of insured property by third parties using force on things or violence, entering the premises by breaking in.
• Hold-up / despoilment (Expoliación): taking of property using violence or intimidation against people.
• Theft / pilfering (Hurto): taking of property by third parties without force, violence or intimidation.
• Security measures (Medidas de seguridad): the locks, shutters, alarms and safe declared in the Particular Conditions, which must be in place and active for the theft cover to apply in full.
• Excess (Franquicia): the amount of each claim borne by the Insured, where stated in the Particular Conditions.
• Sum insured (Capital asegurado): the maximum the insurer will pay for each guarantee, as set in the Particular Conditions.
• First-loss (A primer riesgo): cover up to a fixed amount without applying the proportional (underinsurance) rule.
• Replacement value as new (Valor a nuevo): the cost of replacing or rebuilding the property new and of the same type; actual value (valor real) deducts depreciation, and market value (valor venal) is the resale value (used e.g. for vehicles and older buildings).
• Underinsurance & proportional rule (Infraseguro / regla proporcional): if the sum insured is lower than the true value at risk, the indemnity is reduced in the same proportion.
• Equity rule (Regla de equidad): where declared security measures exist but were not activated, the payout is reduced in proportion to the premium the actual risk would have required.

Article 1 — Object of the insurance & territorial scope ↑ top

Within the limits set in the General and Particular Conditions, the insurance guarantees the indemnities due to you for the destruction, deterioration or disappearance of the insured property, and the provision of the services described, only for the guarantees expressly contracted in your Particular Conditions. Each guarantee has its own specific exclusions (shown under “What is not covered?”) in addition to the general exclusions in Article 10. The cover applies to the premises at the location stated, within Spain; indemnities are paid in Spain and in euros.

General excess: where a general excess is agreed, you bear that amount of each claim — but it does not apply to the Legal Defence (Art. 8) or Technological Services (Art. 9) guarantees, nor to Machinery Breakdown, Electronic Equipment or Refrigerated Goods (which have their own excesses).

Article 2 — Basic business cover ↑ top

Up to the sums insured for premises, contents and stock, the basic cover protects your business against direct material damage from the core perils:

• Fire, explosion, implosion and lightning strike, and smoke damage from combustion/heating appliances.
• Impacts from outside — collision of vehicles, falling aircraft and parts, sonic waves, and falling trees, poles or third-party installations.
• Electrical damage to the business's electrical installations and appliances from abnormal current, short circuit, arcing, surge or lightning induction.
• Weather phenomena — rain over 40 litres/m² per hour, wind gusts over 80 km/h, hail or snow of any intensity, and flood.
• Water damage — from the bursting, overflow or blockage of pipes, tanks and connected appliances, including leak location and repair (with a €300 cap on the causing section where generalised corrosion is found, urgent plumbing without damage up to €200, and urgent unblocking of drains up to €400).
• Breakage of glass, windows and signs — shop windows (lunas), glass and illuminated signs (rótulos), mirrors and glass counters, where the Breakage guarantee is contracted.

Outdoor furniture in gardens, patios and terraces is covered only for fire/explosion/lightning, smoke, external impacts, breakage and robbery, within stated limits. The employees' own IT and office equipment used for home-working is covered up to €1,500 per claim for an event that would have been covered at the premises.

Article 2 — Robbery, theft, vandalism & money ↑ top

Robbery & vandalism

• Robbery of the premises (fixed installations) — up to the first-loss amount in the Particular Conditions, for damage and loss from robbery or attempted robbery.
• Robbery & hold-up of furniture and fittings — up to the contracted limit; employees' personal effects up to €150 per person (max €1,000 per claim); items on enclosed terraces up to 10% (max €500 per object).
• Robbery & hold-up of stock/merchandise — up to the contracted limit; theft through broken shop windows without entering the premises up to 10% (max €3,000); exterior display cabinets up to €300 per claim.
• Vandalism — malicious damage by persons who do not occupy the premises.

Not covered: events not reported to the police; theft where the declared security measures were absent (or, if present but not activated, an equity rule reduces the payout); theft/vandalism in premises without doors/windows or in notorious abandonment; graffiti and fly-posting; acts by tenants/occupants; riot/popular tumult (Consorcio); breakage of glass and signs (unless the Breakage guarantee is held); and damage to gaming, vending or pay-service machines.

Money cover

• Money in a safe — robbery and hold-up of cash and documents of value kept in a safe meeting the policy's requirements, up to the contracted amount.
• Money outside a safe — cash kept in a till or locked furniture, up to the contracted amount (only €250 if not in a till or locked furniture; this restriction does not apply if there is violence against people).
• Transport of funds — hold-up of money in transit (carried by an 18–65-year-old) between the premises and banks, clients or homes, up to the contracted limit.
• Hold-up of clients & employees — despoilment of money from clients or employees while on the insured premises, up to €150 per person.
• Employee dishonesty (Infidelidad de empleados) — losses from embezzlement, theft, fraud, misappropriation, forgery or misuse of cash, securities, cheques or valuables by your Social-Security-registered employees. You must keep the books required by the Commercial Code, file a complaint with the authorities and prove the employee's guilt; dishonesty known about for more than six months, and indirect losses, are excluded.

Article 3 — Consequential loss (Daños consecuenciales) ↑ top

Demolition, salvage & other costs following a claim

Up to 10% of the sums insured for premises and/or contents, the costs that result from a loss covered by the policy: fire-brigade intervention; measures taken by the authorities, emergency services or you to fight or limit a fire/other-damage loss (including refilling extinguishers used); mud removal and sludge extraction; demolition, debris removal and clearance of remains; and salvage of the insured property to prevent further damage. Up to 10% of the contents sum, the cost of reconstructing documents and computer files relating to the insured activity, and up to €1,500 the cost of re-acquiring standard software (operating systems, office suites and similar) needed for the declared activity. Not covered: damage caused by computer viruses; and non-original (unlicensed) software.

Temporary uninhabitability

• Rent of provisional premises — up to 20% of the contents sum, the rent of similar business premises in the same town or district (including moving and storage of your contents) when the insured premises become totally uninhabitable and you are the owner, for as long as repairs take until minimum habitability is restored, to a maximum of one year.
• Loss of rental income — up to 20% of the premises sum, where the premises are let to a tenant under a contract in force on the day of the loss, the loss of rent during the temporary uninhabitability until minimum habitability is restored, to a maximum of one year (if let furnished, only the premises rent counts — or 60% of a combined rent).

The existence and duration of the uninhabitability are established by the loss adjuster(s).

Aesthetic restoration of the premises

Up to the amount in the Particular Conditions, the cost of restoring the pre-loss aesthetic composition of parts of the premises (continente) within the damaged room, broken by a covered loss, using materials of similar characteristics and quality — independently of the direct damage. A tenant-insured is covered for the aesthetic restoration of ornamental installations and of improvements made to the premises (these must be included as Continente). Indemnity is conditional on the restoration actually being carried out. Not covered: roofs, façades, pools, sports/recreation installations, gardens, fences and retaining/perimeter walls, and any exterior part of the premises; and the elements covered under the Breakage guarantee.

Article 4 — Optional guarantees ↑ top

These covers apply only where contracted in your Particular Conditions. (The money covers — safe, outside-safe, transport of funds, hold-up of clients/employees and employee dishonesty — and vehicles in the garage are also optional guarantees of this article; they are described under the Robbery and Refrigerated sections.)

Exclusive-business extension (Ampliación negocio exclusivo)

• Frost damage — up to €2,000 first-loss per claim, damage to insured property from the freezing or bursting of the premises' water pipes and tanks, even where no water-escape damage occurs.
• Other breakage — up to €1,000 first-loss per claim, accidental cracking or fragmentation of properly-installed items: curved glass in display cabinets/counters, glass aquariums and holding tanks for live fish/crustaceans/molluscs fixed to the premises, artistic or ornamental stained glass in windows/shopfronts/doors, glass-ceramic hob plates, sanitaryware and sinks of materials other than earthenware, and goods in display windows damaged by the breakage of the glass.
• Leak location & repair without damage — up to €1,000 first-loss (where premises cover is held, in excess of the €200 "urgent plumbing" cover in Article 2), the cost of locating and repairing the premises' water installations for accidental leaks that do not damage insured or third-party property, except for notorious lack of maintenance.
• Excess water consumption — up to €1,000 first-loss per claim and insurance year, the extra water cost from a covered water-escape loss (the difference between the bill for the loss period and the average of the three previous bills).
• Aesthetic restoration of furniture — up to €1,500 first-loss per claim, the cost of restoring the pre-loss aesthetic composition of furniture within the damaged room.
• Temporarily-displaced goods — up to 10% of the contents sum (max €30,000), damage or loss to insured goods from an event that would have been covered at the premises by any contracted Basic Guarantee, while temporarily moved to similar premises anywhere in Spain for cleaning/renovation/repair or for fairs, exhibitions and professional events.

Not covered (exclusive-business extension): for frost and excess water, the same exclusions as the Water-damage guarantee (except those for freezing and for excess consumption respectively); for other breakage, the same exclusions as the Breakage guarantee; the operating mechanisms of glass-ceramic hobs (unless an inseparable part); and transport risks, including loading and unloading.

All-risk accidental (Todo riesgo accidental)

Up to 100% of the sums insured for premises and/or contents, direct material damage to the insured property from any accidental event — sudden, fortuitous and beyond your control or that of your employees or dependants — other than the events already defined in the rest of the guarantees. This is the policy's broadest property cover, picking up accidental damage that the named perils do not. Not covered: anything excluded in the other guarantees or in the General Exclusions; goods with a unit replacement-as-new value under €100; clothing and personal-use items; damage while goods are being worked on; loss or disappearance with no known cause and inventory shortfalls; work-to-rule or work stoppages; scratches, scrapes, chips and purely aesthetic surface defects; wear and tear and mechanical/electrical breakdown of appliances; cracking of the premises from normal foundation settlement, ground movement or loss of material strength; failures of the water, gas or electricity supply; inherent vice, latent defect, design error, faulty manufacture or unsuitable materials; changes from pollution, evaporation, rot, mould, humidity, dryness, extreme temperatures or light; damage by tree and plant roots; rodents, termites, worms, moths, insects and animals of any kind; the breaking-up of sets or collections; and any excess existing in this or another policy.

Garden reconstruction (Reconstrucción de jardines)

Up to the first-loss amount in the Particular Conditions, the cost of replacing trees, plants and lawn with others of the same species (including cleaning and removal of remains) where they are directly damaged by fire/explosion/lightning, wind, or vandalism as defined in Article 2. Not covered: the exclusions of the Article 2 fire, weather and robbery guarantees; plantings in poor condition or poorly rooted; and plantings in ground excessively waterlogged by irrigation.

Article 5 — Transport of merchandise ↑ top

Up to the amount in the Particular Conditions, material damage to and robbery of the insured business's own merchandise while carried in vehicles owned by you, caused by: traffic accidents originating in collision or overturning; and hold-up (expoliación) of the goods in transit where committed by armed force or by a gang. Not covered: losses occurring more than 50 km from the insured premises; robbery or hold-up not reported to the police; and losses caused by the unjustified abandonment of the vehicle.

Article 5 — Machinery breakdown & electronic equipment ↑ top

Where contracted, this covers the sudden, accidental breakdown of the business's machinery and electronic/IT equipment — from internal causes such as mechanical or electrical failure, operating error, short circuit or over-voltage — that ordinary fire/damage cover excludes. Not covered: items worth under €100 each; maintenance costs and parts replaced during maintenance; machinery over 15 years old and IT/electronic equipment over 10 years old; obsolete or useless equipment; rented equipment where the owner is responsible; and gaming/vending/pay-service machines.

Article 5 — Refrigerated goods & vehicles in the garage ↑ top

Goods in cold stores

Up to the contracted amount, the loss or deterioration of insured stock kept in refrigerators or cold stores due to a failure of the external power supply, a breakdown of the refrigeration plant, or contamination from a refrigerant-gas escape. Not covered: live animals; stoppages of under 6 hours; temperature-setting errors; pre-notified power cuts; defective packaging/storage or inherent vice of the goods; and damage to the cold stores themselves.

Vehicles in the garage

Up to the contracted amount, damage to your motor vehicles kept at rest in a closed garage forming an annex of the premises, caused by fire/explosion/lightning, smoke, external impacts, weather, water, or robbery and vandalism.

Article 6 — Business interruption (Pérdida de explotación) ↑ top

Up to the amount and for the maximum period in your Particular Conditions, this covers the losses you suffer from the partial or total stoppage of your business following any loss whose material damage is covered by this policy. An interruption is only indemnifiable where the stoppage exceeds 25% of normal output. It also covers stoppage caused by:

• Total denial of access to the premises due to works or ground collapse in the public road — maximum indemnity period of 3 months.
• Material damage at suppliers' premises causing a failure of the water, gas or electricity supply — indemnity period of 30 days.

You choose the basis of indemnity in your Particular Conditions:

• Daily indemnity — the actual losses from the stoppage, based on the effective interruption period and the degree of paralysis (the schedule shows a typical maximum of 90 days).
• Loss of profits — the actual loss of gross profit, standing charges or net profit (as agreed) from the fall in turnover and/or the increase in operating costs.

Not covered: stoppages of 25% or less; amounts that would give you a profit; delays caused by your own lack of finance or by unjustified delay in repairs; a decision not to resume the activity; computer-virus damage; events with no direct material damage (terror threats, walkouts, etc., except the access-denial and supplier-failure covers above); fines; and purely indirect losses (loss of rent, contract termination, loss of market).

Article 7 — Civil liability ↑ top

Up to the sum insured for Civil Liability per claim and year, and the per-victim limit in the Particular Conditions, this covers the extra-contractual liability (Articles 1902 ff. of the Civil Code) for material and/or personal damage you involuntarily cause to third parties. All damage from one cause counts as a single claim. The cover comprises:

• Liability as owner of the premises — as owner of the insured building and/or contents, including your share as co-owner of the building's common elements; and, where the premises are let, liability to your tenant for fire, explosion or water damage.
• Liability for the business operation — arising from the declared activity, its installations, machinery and tools (excluding professional errors); products served and consumed on the premises; loading, transport and unloading of the business's own goods (other than traffic accidents); and occasional participation in fairs and exhibitions (up to 30 days a year).
• Tenant's liability for reform works and, as tenant/user of the premises, for damage to the building from fire, explosion and water.
• Employer's liability (Patronal) — for bodily injury to your payrolled employees from a recognised work accident, where you are found liable beyond the compulsory work-accident insurance.

Within the Civil Liability sum, Generali also undertakes your legal defence (appointing lawyers; free choice up to €6,000 in a conflict of interest) and constitutes bonds up to €150,000 in criminal proceedings for negligence (never wilful crimes).

Common liability exclusions include: claims by your partners, family or employees living with you (subject to the employer's-liability cover); professional errors/negligence in providing services; contractual obligations; breach of official or municipal/health regulations; risks needing compulsory insurance; motor vehicles, vessels and aircraft; fines and penalties; structural building works; flammable/explosive/toxic/contaminating materials (beyond heating fuel); malicious software and data loss/theft; pure economic loss; subcontractors' own liability; aviation/nuclear products; transmission of diseases; theft/loss of things or animals; and withdrawn or unauthorised pharmaceutical/cosmetic products.

Article 7 — Products, off-site works & completed-works liability ↑ top

Up to the Civil Liability sum and per-victim limit, this covers indemnities you must pay for personal and/or material damage to third parties caused by:

• Products supplied in the course of the declared activity (claims made during the policy, provided no more than one year passes between the cause and its manifestation; "delivery" is when you cease to have control of the product).
• Installation works carried out away from the premises (excluding damage to the item being installed).
• Completed works/services — damage arising after your work or service is finished, within one year of completion.

Not covered: damage from inadequate storage of products; manufacturers'/distributors' liability; claims that a product is unfit for purpose or does not match advertised qualities; damage to the product or work itself and the cost of finding/fixing it; the cost of withdrawing or replacing a product; and damage to the item being installed.

Article 8 — Legal defence (Defensa jurídica) ↑ top

Managed by the specialist Europ Assistance, this protects your legal interests through amicable, administrative, judicial or arbitral procedures, where contracted. It covers up to €6,000 per claim for lawyer's and procurador's fees, court fees and costs, and criminal bonds, with free choice of lawyer. Two levels are offered:

• Legal defence & damage claims — telephone legal advice, claims against third parties for non-contractual damage, and defence in matters relating to the business.
• Extended legal defence — which notably adds tax, employment and accounting advice (asesoría): answering tax queries and filing taxes (IAE, IBI, non-resident income, IRPF, corporate tax, inheritance & gift tax, ITP/AJD, VAT, etc.) telematically; an employment service including the preparation of up to three payslips, Social-Security (TC1/TC2) filings and registrations; and accounting advice.

Cover applies to events in Spain falling to the Spanish courts; actions prescribe after two years; there is a €300 minimum litigation amount. Not covered: matters relating to the building's construction/demolition; supply contracts; deliberate acts; events before the policy started; fines, taxes and costs orders; and unauthorised expenses.

Article 9 — Services & digital transformation ↑ top

1. Business assistance

The prompt despatch of professionals (plumber, electrician, glazier, locksmith) for emergencies affecting the premises, and arrangement of repairs after a covered claim — up to the limits in the policy.

2. Technological & digital-transformation services

A distinctive part of the Negocio policy, helping your business go digital:

• Digital transformation — free of charge: a guided digital self-diagnosis (the “Digital Thermometer”) and a video course/ebook on digital strategy, marketing and content; and, at reduced cost: website design, an optimised blog, and Google My Business set-up.
• 24-hour remote tech assistance — phone/chat support from a qualified technician for computers (Windows, Mac, Linux), software, internet and everyday tech devices.
• End-of-digital-life management — on death, and at the heirs' request, the review and closure of the deceased's online presence (social networks, blogs, email), with a technician visit if needed (up to 5 hours).
• Legal protection for new technologies — telephone legal advice on internet use and digital commerce (Spanish law), with worldwide geographic scope (events outside Spain settled by reimbursement).

Article 10 — General exclusions (all guarantees) ↑ top

In addition to each guarantee's specific exclusions, the policy does not cover:

• Guarantees not expressly included in the Particular Conditions, or risks not defined in (or excluded by) these conditions.
• Losses from the wilful misconduct, gross negligence or complicity of the Insured or those they are responsible for.
• War, invasion, hostilities, civil war, rebellion, revolution, insurrection, military or usurped power, terrorism, and confiscation, nationalisation or requisition by any authority.
• Extraordinary natural events (earthquakes, tsunamis, extraordinary floods, volcanic eruptions, atypical cyclonic storm) and other events that fall to, or are rejected by, the Consorcio de Compensación de Seguros (see Art. 11), and nationally-declared catastrophes.
• Inherent vice, design/construction defects, fermentation/oxidation, and inexcusable negligence or defective maintenance.
• Radioactive, nuclear, contamination, pollution or corrosion damage.
• Damage during repair/remodelling/reconstruction works affecting the building's structure.
• Software and computer programs; pre-effect or post-expiry losses; indirect losses not expressly insured; damage to property away from the declared location; and fines and penalties.

Article 11 — Extraordinary risks (Consorcio de Compensación de Seguros) ↑ top

As required by the Consorcio's legal statute (Royal Legislative Decree 7/2004), losses from extraordinary events occurring in Spain are indemnified by the public Consorcio de Compensación de Seguros, funded by a surcharge collected with your premium, when the event is not covered by this policy or the insurer cannot meet its obligations. Covered extraordinary events include earthquakes and tsunamis; extraordinary floods and sea surges; volcanic eruptions; atypical cyclonic storm (winds with gusts over 120 km/h, and tornadoes); the fall of meteorites; terrorism, rebellion, sedition, riot and popular tumult; and acts of the Armed or Security Forces in peacetime. Natural events are certified by AEMET and the National Geographic Institute, and a seven-day waiting period applies, in line with the Extraordinary Risks Regulation (RD 300/2004). For direct property damage the insured bears a franchise of 7% of the indemnifiable loss (this does not apply to dwellings, communities of dwelling-owners, or vehicles insured under a motor policy). The clause also sets out the claims procedure for reporting extraordinary losses directly to the Consorcio.

Articles 12–13 — Claims valuation, indemnity & contract terms ↑ top

As a general rule, the premises and contents are valued at their replacement value as new (with the usual exceptions valued at actual/depreciated value — where the property is not rebuilt, for older buildings, and for goods in poor condition or obsolete). Stock is valued at its cost/market value, and cash and expenses are evidenced by statements and invoices. Where the sum insured is lower than the value at risk, the proportional (underinsurance) rule may reduce the indemnity. The contract terms (Article 13) follow Law 50/1980: the policy is based on the proposal and your declarations (inaccuracies can reduce or void cover); the premium must be paid when due (non-payment can suspend cover); the policy runs for the stated period and renews automatically unless cancelled with notice; you must notify any aggravation of the risk and report claims within seven days; the insurer is subrogated to your rights against third parties; and disputes may be brought before the courts of your Spanish domicile.