Every business that interacts with the public should effect this policy. This policy covers your legal liability to third parties for damage or death to individuals and/or damage to property.
If you produce products for public consumption (e.g. a manufacturer or a restaurant) you should also extend your policy to include Products Liability.
If you distribute or manufacture goods and deliver them to your Clients this policy is right for you. Your delivery vehicle(s) might be insured but what happens if your goods are stolen or damaged while en route to your Client? This policy covers those risks. (for export, import and cargo handling risks to your goods please see Marine Cargo / Stock Throughput)
Directors and Officers are vitally important to the day-to-day operations of any company and should therefore protect their personal assets from anyone or entity from alleging that a wrongful act was committed.
According to Section 24. (1) of the WORKMEN’S COMPENSATION ACT 88:05 “…it shall not be lawful for any person to employ any workman unless there is in force in relation to the employment of that workman a policy of insurance…”
Therefore, once you have persons in your employ you are obligated by law to have a Workmen’s Compensation policy in place to have them covered.
This policy will cover wrongful employment acts (e.g. sexual harassment) committed, attempted or alleged to have been committed or attempted by or on behalf of an employee of the company.
Many organizations lack the resources and personnel to quickly and professionally respond to threatening situations. A Kidnap and Ransom policy provides protection against a variety of security risks including threats and extortions against people, property and propriety information.
Errors & Omissions (E&O) cover is basically the same as PI cover. E&O insurance protects businesses from errors and/or omissions made by a business owner, employee or contractor working on behalf of the company. It covers legal fees and compensation costs if your business is sued by a client for being negligent or making a mistake that causes them financial loss.
If your employees use their personal vehicles for your company’s business then you should strongly consider effecting this policy. It covers your company’s liability to third parties in the event one of your employees gets into an accident while on the job. The policy can also be extended to cover damage to your employees’ vehicle(s) which will help you avoid conflict in the event they seek reimbursement for repairs to their own vehicle.
A professional can be sued for loss or damage arising from a breach of professional duty owed to their clients and even non-clients and thus the potential liability arising from professional negligence can be great. Professional Indemnity Insurance (commonly referred to as PI) was created with the following professionals in mind:
As an added benefit for your employees you can effect a Group Personal Accident policy to cover them for Accidental Death or Dismemberment. This policy is especially useful for companies whose employees travel often. We can extend the policy to include travel benefits such as loss of luggage.
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