Motor Insurance
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Building Insurance
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Machinery Insurance
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Crime (Money)
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Office Contents
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Electronic Equipment
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Goods in Transit
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Theft
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Stock
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Liabilities
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Accident to Persons & Property
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Business All Risks
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Business Interruption
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SASRIA
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Construction
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Marine
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Motor Traders
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Corporate Travel
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Fidelity Guarantee
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Glass
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Accounts Receivable
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Assets
Building
It is essential to understand what your insurance policy defines a building as. Usually, it is the actual structure with all fixtures and fitting and other named structures like driveways, gates, fences etc. - check your policy to ensure your building falls within the ambit of cover provided by your policy.
Main Coverable Events
Storm
Fire
Machinery
Essentially, the assets that remain, after you have insured your Buildings and Stock, are all the other Contents and Plant & Machinery. The main events covered by commercial policies for Contents, Plant & Machinery are Fire and Storm.
Main Coverable Events
Storm
Fire
Stock
A common definition of stock is “the goods or merchandise kept on the premises of a shop or warehouse and available for sale or distribution”. Raw materials are those assets, materials or substances used in the primary production or manufacturing of goods.
Main Coverable Events
Storm
Fire
Office Contents
This section of the policy looks to cover contents or furniture found in an office, including your landlord’s fixtures and fittings or for which you are responsible, other than electronic data processing equipment. Some examples may include desks, cabinets, dry walling, office chairs, office crockery etc.
Main Coverable Events
Storm
Fire
Theft
Electronic Equipment
The correct setting of your sum insured is crucial, to avoid Proportionate Underinsurance penalties applying at claim stage. Invariably, the sum insured must always represent the New Replacement Value of all insured electronic equipment, inclusive of VAT.
Main Coverable Events
Storm
Fire
Theft
Accidental Damage
Business All Risks
All businesses, regardless of size, generally need a lot more risk protection than simply property or vehicle insurance in order to protect their assets and this is where an all risks business insurance policy in South Africa is vastly beneficial.
Main Coverable Events
Storm
Fire
Theft
Accidental Damage
Commercial Motor
The accident rate on South African roads continues to skyrocket. Business insurance should therefore include adequate motor insurance to protect the organisation against insured motor losses, as well liability to third parties, which arise out of the use of the motor vehicles.
Comprehensive - Coverable Events
Storm
Fire
Theft
Accidental Damage
Liability
Goods in Transit
Assets, whether they are sold, purchased or needed as manufacturing components, are moved within the RSA on a daily basis. Often, the value of the property transported is high and should be transferred to an insurance policy, via a Goods in Transit Section, as events like theft, hijack, fire, accidents can occur ay any time during the transit.
Main Coverable Events
Storm
Fire
Accidental Damage
Whilst in Transit
LIABILITY
Liability to 3rd Parties
Liability Insurance in South Africa can be explained as follows: South African law is basically divided into two distinct spheres, namely criminal and civil law. An action by a person can have both civil law and criminal law consequences, but the two fields have entirely different applications.
Main Coverable Events
Civil Legal Liability arising from accidental damage to Third Party Property or death/injury to Persons
ACCIDENT TO PERSONS & PROPERTY
Personal Accident and Accidental Damage
It is a known fact that human resources are integral to the success of any business and it follows that these resources should be protected and insured as far as possible. Commercial short term insurance policies are able cover eventualities like death and permanent disability, including few other insured events, following accident to insured persons.
Main Coverable Events
Accident
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Glass
Fixed glass needs to be specially insured for accident. In terms of setting the sum insured, it is simple case of contemplating the highest financial loss you would envisage following accidental damage to glass from an event.
Main Coverable Events
Accident
CONSEQUENTIAL LOSS
Business Interruption
Fire and Natural Perils (Storm, Wind etc) are all unexpected disasters which may result in your business having to shut down or to limit its operations unless you have insured the reduction in Turnover risk following such a disaster.
Main Coverable Events
Reduction in Gross Profit/Revenue following Fire or Storm
Accounts Receivable
Most businesses have accounts receivable as part of their monthly management accounts. These are simply outstanding debit balances, essentially monies owed by the client to the business, for goods purchased or for services rendered by the business.
Main Coverable Events
Accident
SASRIA
Riots & Strikes
This is unique cover against risks such as civil commotion, public disorder, strikes, riots and terrorism, making South Africa one of the few countries in the world that provide this insurance, particularly at affordable premiums.
Main Coverable Events
Riots & Strike for Assets
Business Interruption
Money and some Specialized sections
CRIME
Theft
This essentially looks to cover theft of property, subject to forcible and violent entry to a building. In terms of setting the sum insured, it is simple case of contemplating the highest financial loss you would envisage following theft of property from your building.
Main Coverable Events
Theft
Money
Money, this essentially looks to cover theft of money from the premises and in transit. Typical requirements include that money is left in a locked safe (the higher the amount insured, the higher the specification of the safe), is carried armed cash carriers, left in drop safes etc.
Main Coverable Events
Storm
Fire
Theft
Fidelity Guarantee
Financial crimes, committed by employees, are often far more debilitating to businesses in South Africa. In fact, Chadwicks views this as a catastrophe financial risk, which should always be transferred to an insurance policy.
Main Coverable Events
Employee Theft
SPECIALISED
Construction
Construction insurance is designed to cover contractors/businesses/principals who are engaged in or need to protect their: Civil engineering e.g. roads, dams, reservoirs, earthworks, tunnels, concrete bridges, piers, runways. Policy type, a Contract Works policy.
Main Coverable Events
Storm
Fire
Accidental Damage
Theft
Transit
Liability
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Engineering Insurance
If your business or organization owns, operates or depends upon some type of equipment to generate revenue, you need machinery breakdown insurance. Do you use electricity? Do you heat, cool or refrigerate your premises? Do you have communication networks? Do you manufacture or process goods?
Main Coverable Events
Accident
Marine Cargo Insurance
Marine Insurance in South Africa: In order to insure something, the owner must have a financial interest in it. This is true for your car, house or cargo. In any sale of goods, the ownership will pass from the seller to the buyer. The contract of sale will state the responsibilities of each party and those responsibilities are normally referred to be using INCOTERMS.
Main Coverable Events
Accident
Corporate Travel
At Chadwicks we know that business trips, regardless of how meticulous the planning was, can turn into a disaster in a moment, which is why you need to know that you have the best corporate travel insurance South Africa offers.
Main Coverable Events
Personal Accident
Medical Emergencies
Liability
Motor Specialised
Businesses which have motor vehicle stock (typically motor dealers) or who have customers vehicles in their custody/control are unable to list these vehicles under a normal motor policy as the unregistered vehicles change on a constant basis or the vehicles are owned by the customer.
Main Coverable Events
Storm
Fire
Accidental Damage
Theft
Liability
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Employee Theft
Chadwicks offers the most comprehensive employee theft insurance in South Africa. This insurance cover is more commonly known as Fidelity Guarantee. The risk exposure to the business is loss of money or property belonging to you or for which you are responsible stolen by an Insured Employee OR Direct Financial Loss as a result of Fraud committed or Dishonesty of an Insured.
Main Coverable Events
Employee Theft
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Liability Specialised
A common mistake made by some business owners, is to only concentrate on the insurance of their own assets (sometimes called first party insurance).While securing comprehensive insurance cover on your assets is key, transferring the insurable risk exposure you have as a business to third parties, is critically important to ensure business continuation. Some example of specialised liability cover include: Directors & Officers Liability, Professional Indemnity Liability (aka Errors & Omissions), Product Recall/Inefficacy/Guarantee, Cyber Liability, Environmental Impairment Liability, Employment Practices Liability to name but a few.
Main Coverable Events
Liability
Knowing your Business Insurance Needs
We know that no two ventures are identical in risk exposure so we make it our business to understand your business - only then can we confidently approach the correct insurer for your risk. The following are some of the many ways in which we add real value to what you do best - your business:
Assistance with regard to Loss Control and Risk Management programmes
A tailor-made Disaster Recovery Plan
Annual Reviews, which include monitoring that your insurance spend is market related in terms of the entire spread of South African insurers
Ability to negotiate with insurers on your behalf in terms of difficult insurance claims - unfortunately it is a fact that direct insurers are direct in the negative when dealing with borderline insurance claims
A unique Risk Analysis for your business - every company is different and our Risk Analysis ensures that your insurer understands your risk in totality
Your unique Risk Analysis ensures that there are no unpleasant surprises at claim stage
Our service is on-going through out the year - visits will be as regular as you see fit (apart from your annual renewal of course)
Updates with regard to new legislation and its affects on your insurance contract
Our dedicated insurance claims staff act quickly and decisively when handling your losses
The entire insurance claim process from the appointment of the assessors to the claim settlement is managed in-house
The Ideal Insurance for Your Business
Allow Chadwicks Risk & Insurance the opportunity of providing your business with the correct solution to business insurance in South Africa at optimum premium levels.
