Ubisoft 2013 Annual Report Download - page 55

Management Report
2013
50
INSURANCE AND RISK COVERAGE 1.7.6
The policy of insuring the Group aims to protect it against the consequences of certain potential and
identified events that could have an adverse effect on it. This policy falls under the general scope of
risk management, downstream of prevention plans and business continuity plans.
A civil liability insurance policy for corporate officers has been taken out at Group level. It covers all
claims made against de jure or de facto executives, as well as defense and ancillary costs.
Commercial liability policies are currently taken out locally, however a Group-wide study has been
conducted into implementing a worldwide program including:
- Liability resulting from operations;
- Product liability;
- Professional liability.
The Group is completing the examination of the proposals received from various brokers.
Apart from these two programs, most of the policies in place are taken out locally at subsidiary level,
taking account of the specific nature of that subsidiary's activity and the country in which it is present,
using brokers as appropriate, particularly for the following scopes:
 Property damage and, where appropriate, trading loss;
 Goods in transit;
 Vehicles;
 Employee health risks and employee benefits;
 Business travel;
 Expatriate cover;
 etc.
There were no major losses in the financial year 2013.
Total premiums paid on insurance policies valid during the financial year ended March 31, 2013
amounted to €1,185 thousand excluding credit insurance.