Insurance works when you need it. At least that’s what Campofrío says after the fire in Burgos. On Sunday 16 November, 70,000 square metres of their factory burnt down. According to Campofrío HR director Remedios Orrantia, the company had “a solid insurance programme, with a sound coverage structure. This is very important because you never think you’re going to need it and until something tragic happens you don’t appreciate the true value of this programme”.
We’re here for you in these kinds of situations
This is how the companies responded after the accident. It’s the rationale for our work as insurance brokers: manage your risk by offering the best policy.
Campofrío has already received 73 million euro in advance compensation for the fire. The financial report of their 2014 accounts shows that the extraordinary financial income and losses resulted in a positive balance of 25 million euros. Thanks to their insurance policy, the company’s assets will not suffer a negative impact.
What does their insurance cover?
Practically everything: property damage suffered by the production facilities in Bureba and loss of profits stemming from the reduction in sales as a result of the accident. It also compensates the company’s additional costs in recovering its lost sales.
In their annual report, the Company states that “society expects an additional compensation for property loss, loss of profits and additional costs they may incur… for the 12 months following the date of the loss”. This way, insurance will enable the company to “cover the entire replacement cost of a new factory with a similar capacity of the former one”.
Any company, no matter the size, can insure these disasters. If you put your trust in us, we can prevent 7 out of every 10 Spanish companies closing due to improper insurance coverage.