Leading brokerage company to provide a solution to a problem affecting all firms
Aon launched a new insurance policy covering for the risk arising from the Principal’s and Contractor’s Joint Liability within private procurement and third-party transport contracts
Genoa – Aon Spa Insurance & Reinsurance Brokers Deputy Chairman Massimo Germani – being responsible also for Special Commercial Projects – has always regarded the operators of the port of Genoa as one of his main targets in Liguria.
Boasting a long experience in the insurance sector – Assitalia, Taverna, Cambiaso Risso (in 2005, in partnership with Cambiaso Risso, he incorporated Aon&Partners, former Cambiaso Risso & C. Savona Srl), Aon CR – in April 2016 the 58 years-old manager took over the reins of the Liguria area and, since then, he has always strived to grow.
With 27 main offices and over 1,600 employees, being the first group in Italy and worldwide in the risk and human resources consulting industry, as well as in insurance and reinsurance brokerage, the Italian branch of the PLC listed on the NYSE and headquartered in London (with offices in 120 countries and 50,000 employees) is growing steadily.
In 2018, in Italy, the Group recorded 250 million euro revenues and brokered premiums amounting to almost 3 billion euro. In 2011, the two values amounted to 160 million (recording a 36% growth in turnover) and 1.8 billion (recording a 40% growth in premiums) respectively.
“Last year, in Liguria, we achieved a turnover of over 10 million euro, planning to get to 11 by the end of 2019 (in 2011 our turnover amounted to 7 million). We cover 44% of the corporate market, all companies being headquartered in Liguria. Having 100 employees, we are planning to expand our premises”, Germani confirmed to Ship2Shore.
“Our Genoese branch focuses on marine cargo, with 50 employees under the direction of Francesco Dellepiane, while the remaining half of our personnel deals with non-marine branches”.
In addition to its steady growth, in the past 15 years Aon carried out some 20 takeovers, including also RVA Rasini Viganò and Gruppo Lenzi Paolo Broker, aiming at new products in order to expand its market.
In fact, it recently launched an exclusive and new policy in collaboration with Cattolica Assicurazioni, relating to an issue concerning all types of companies, i.e. Joint and Several Liability between Principal and Contractor.
“Including those related to port and logistics operators, being our main customers. It is the dynamic risk arising from a legal provision”, explained Germani, who met a market requirement by providing a solution devised with the technical support of the esteemed legal advisor lawyer Mauro Ferrando, who is also vice-President of the Italian labour lawyers’ association.
“We are proud of our Joint Liability Insurance. After a couple of years of in-depth research, we found the right insurance company, and we are very happy to be the first ones to provide it”, the insurance manager went on, illustrating the background of their new product.
Our “Joint Liability Insurance” meets the growing need for protection on the principals’ part, in particular within private procurement and third-party transport contracts, where subcontracts are very common, and they do not allow principals to accurately control outsourced activities”.
The latest amendments introduced by Article 29/276 of the Biagi Law and the recent judgement of the Constitutional Court no. 254/2017 (treating procurement contracts as subcontracts) further increased principals’ liability, tightening up their duties and even giving rise to a no-fault liability. According to the regulation in force, principals are jointly liable with the contractor as well as with each possible subcontractor, within the time limit of two years from the cessation of the procurement contract, for the amounts due to the latter’s workers, regardless of the fact that the principal is still required to pay the consideration of the contract to the Contractor or not.
In the Transport sector, the regulation provides that, before entering into the contract, the principal shall verify the Carrier’s regularity by requiring its Certificate of Social Security Compliance (Durc) issued no earlier than 3 months from the date of the conclusion of the agreement.
If said checks are carried out correctly, the principal is not jointly liable. On the contrary, the failure to verify regularity implies a joint liability with the carrier and with any possible sub-carriers.
“The Aon-Cattolica policy covers for possible amounts that the Principal is required to pay. In particular, it protects the insured party both for amounts related to salaries, remunerations (including severance indemnity), social security contributions and INAIL (national institute for insurance against accidents at work) insurance premiums referring to the period of execution of works or of supply of the services provided for in the procurement contract, and for the legal expenses incurred by the other party (in case the insured party was condemned to pay for them following a judicial or arbitration conviction, or due to a settlement previously approved by the company in writing)”, pointed out Germani and Ferrando.
“This innovative insurance solution – devised and developed in collaboration with Cattolica Assicurazioni and the Ferrando Law Firm – might even be used in other European markets similar to the Italian one”, Aon Deputy Chairman concluded.
“In the current scenario, considering the latest amendments introduced by the Biagi Law and by the recent judgement of the Constitutional Court, treating subcontracts as procurement contracts, it is imperative that entrepreneurs protect themselves”.
Prestigious appointment for Lawyer Mauro Ferrando
He is the newly appointed chairman of Porto Antico di Genova Spa, completing its integration process with Fiera di Genova Spa
Porto Antico di Genova Spa’s Shareholders’ Meeting appointed its new directors and its Chairman, the civil lawyer Mauro Ferrando specialised in commercial, corporate and labour law. “I gladly accepted the office of Chairman of the new 'Porto Antico', a company that, besides its usual activities, will also be dealing with the organization of exhibitions and other events. I am determined to have it play a key role in the relaunch of Genoa, giving it an international vocation and drawing inspiration from the experience of those Countries and cities which managed to exploit their waterfront areas and their exhibition and marine activities in order to boost their economy and to develop their territory”, the newly appointed Chairman started off.
The Board of Directors welcomed also Federico Diomeda, representing the Municipality of Genoa, and Cristina Repetto, representing Filse-Liguria Region. Directors Luca Nannini, outgoing president representing the Chamber of Commerce, and Lucia Cristiana Tringali representing the Western Ligurian Sea Port Authority were reappointed.
The integration process concluded with the transfer of the company branch – exhibition and Marine activities – Fiera di Genova Spa under liquidation. The new shareholding structure includes Municipality of Genoa (51.9%), Chamber of Commerce of Genoa (37.20%), Western Ligurian Sea Port Authority (4.84%), Filse – Liguria Region (already a shareholder of Fiera di Genova, 6.01%). With the transfer of Fiera di Genova Spa’s workers, Porto Antico di Genova currently boasts 50 employees.
“We are at the centre of a great revolution for Genoa, which aims at becoming the first Mediterranean city. Said revolution cannot do without a quality exhibition and entertainment area. The municipal administration aims at a fully operational area, with Porto Antico and Fiera being at the centre of the great transformation of the areas thanks to the Eastern Waterfront redevelopment”, Genoa Mayor Marco Bucci concluded.