Tag: insurance policy
A country engulfed in flames & smoke! – what it means...
It is becoming normal to wake up to reports of fires - since the July 2021 civil unrest there have been at least a further four major fire outbreaks reported.
Ways to ensure a successful insurance claim
People sometimes have the perception that insurance quotes are declined for ‘no reason’. However, an insurance policy is a contract. The insurer agrees to cover you according to how much risk they think they take on in doing so and set your premium accordingly.
Hot outdoor commodities for the ultra-rich
During the month of September, many homeowners flock outdoors to enjoy the start of Spring; this may even result in a purchase of a plant or two for one’s garden. But if you are super rich, your love for the outdoors may culminate into spend of anything between R500,000 and R1 million on a single tree for your property.
Extended lockdown – does working from home affect your insurance?
It is important if you are working from home to check your policy and take the time to notify your insurer of this change in risk profile, to ensure you are properly covered if your risk has changed, you have acquired additional equipment or IT infrastructure, and so on.
BI insurance – what all businesses can learn from the riots
The latest riots and looting in South Africa have been utterly devastating for local businesses. When the dust eventually settles, the reality is that many businesses are going to have a tough time bouncing back from the destruction. Those that are able to pick up the pieces will be the ones that have business interruption insurance in place.
Ways self-service helps insurers cut costs and time
Standing out in a competitive industry like insurance is a challenge. To remain competitive, insurers must understand how to successfully serve their customers while keeping costs low. It’s for this reason that there is an increasing demand for self-service options.
Honour your insurance vows for a happy ‘marriage’
It is rare, but not uncommon, for the relationship between the customer and his or her insurer to sour. This may result in the insurer having to take what seems like drastic action by cancelling the policy of the customer. The problem is that once you are fired from one insurer, it is very difficult to get a decent insurance policy elsewhere at the same premium rate, given that you will have a record.
Don’t make costly assumptions about who gets your assets if you...
You’ve made the effort to get an executable will in place, but are you all sorted in terms of knowing who will get what? Not necessarily. Unfortunately, it’s not that clear cut. Many of us confuse how our assets will be distributed through our will, with the distribution of death benefits from our company sponsored retirement fund – often assuming that our death benefits fall within the scope of our will. But the two are treated very differently when we die.
Covid-19 and insurance claims
If you haven’t already dusted off the business interruption, liability and event cancellation policies you have underwritten, or placed for an insured, and checked for coronavirus coverage, now is the time to do so.
Liability claims – when to notify?
Typically, an insurance policy stipulates that notice of a claim must be given as soon as possible or within the time limit stipulated by the policy. While this may seem simple enough with a straight-forward assets policy, liability insurance is markedly different.