Fire & Perils 

Include things like storm, wind, hail, water, earthquake, and acts of God. Cover for stock, fixtures & fittings and buildings.

Link To Article

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Replacement value. 

Buildings Combined Section

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Designed for buildings like office blocks, churches schools, etc. Wider cover than Fire for what insurers call "A" type risks.

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Replacement value. 

Office Contents:

A fire policy that is designed for bona fide offices gives a wider coverage than fire. Replacement Value with theft section that can be on first loss.

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Replacement Value &

Theft First Loss 

Loss Of Profits Or Business Interruption:

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Cover to protect the business income after a claim on any of the three sections above. Some companies started to extend this cover for theft and other sections.

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Gross profit

or

Increase costs of working.

Link to Article

Accounts Receivable:

Cover to protect the possible loss of outstanding accounts after loss of information after one of the insured events similar to fire sections.

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The client decide on the sum insured according to the outstanding creditor's book.

Theft Burglary:

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Loss or damage to theft or attempt into or out of a building by visible forcible means. Expensive with strict conditions 

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The client decides on the first loss amount sum insured.

Link to article

Money:

Cover for cash on premises of the insured or director or employee.

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The client chooses a sum insured  

Link To Article

Glass:

Internal and external glass, think of shop fronts inside a shopping centre. Landlords make tenants responsible for accidental damage.

Replacement value. 

All Risk (Business All Risk):

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Companies give this cover different names, but it is designed for items to be covered away from the insured's premises. Think of things like tools, laptops and cell phones.

Link To Article

Replacement Value

Electronic Equipment:

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An All-Risk Section Limited to the insured premises for things like computers, printers, and machinery with memory capability.

Replacement Value.  

Goods In Transit:

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Cover for things that get transported by the client, road, rail, or air within territorial limits. 

Different types of cover are available. 

The client decides on a sum insured premium calculation work on complicated formulas.

Link to Article 

Marine Insurance: 

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A specialist product for goods in transit that involve import and exports. Think of goods in transit from the client's premises to an international destination.

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Specialist Product 

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Personal Accident: 

Cover for accidental death, disability, and income protection for staff for a maximum of 2 years. Sum insured is normally based on 75% of a staff member's income and a waiting period applies. Think of a staff member getting injured in an accident and off work for 6 months. 

Stated Benefits: 

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Cover the same as personal accident designed for the business owners, and directors.

A very cost-effective way to provide accident cover.

The benefits are paid to the company, not the individual.  

Motor: 

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The motor vehicles belong to the insured. Cars and bakkies or LDV,s 

Different types of cover are available on the market value. We see business owners make mistakes here because most often the most expensive part of a business insurance policy.

Link To Article

Commercial Vehicles: 

Vehicles like trucks, buses and heavy commercial vehicles. Specialist product AS Brokers has an agency with a company that is new on the market with innovative products.

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Market value.

Specialist Vehicles: 

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Vehicles that are designed for specific tasks like forklifts, tractors, and harvesters for farmers.

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Market value. 

Motor Traders Internal & External:

Cover designed for businesses that work with motor vehicles. Car dealers, repair, and fitment centres to name a few. Complicated insurance sections and easy to make mistakes.

Motor Contingent Liability:

Think of a school or church or nursing home that uses parents, church members, or citizens of the house to transport people, for example, a parent transporting children to a sporting event, or a nursing home using one of the residents to take somebody to an event.

The client decides on the sum insured.

Passenger Liability:

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Cover for businesses which charge a fee to transport people. Taxis, Uber, Bus companies, etc. 

Cover liability towards passengers. Rugged cover to get insurers very reluctant to give it.

Public Liability:

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Cover for death, injury to a person, or damage to property for which a client becomes legally liable to pay. Exclusions to the standard policy make this highly complex section and a part of insurance that is very advice-driven. Get a business insurance specialist to look at this section and the following liability sections for you.

Link To Article  

Defective

Workmanship:

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An extension of the liability policy. For any business that does physical work for a customer on their own premises or on the client's premises. Does not cover your comebacks it covers the liability of any defective work. 

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The client decides on the sum insured.

Link to Article

Products Liability:

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Manufacturers, suppliers, distributors, or retailers of any product need this cover. It covers the death, injury to a person, or property damage; as mentioned in the general liability description, a business may become liable to pay because of a product. 

Specialist Product 

Link To Article

Contractors Liability (Contractors All Risk)

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Any business doing any contracting, installation, repairs, maintenance fitment, or any work at a client's premises (third party) needs to look at the cover. In one section where we can see skills in the insurance industry disappearing, and a considerable advice gap starts to occur. Contractors, beware you need specialist advice. Also crucial for companies that make use of contractors to work for them. If you take on a contractor who does not have the proper insurance in place, you are at risk. We see that the contractors' clients do not ask for the correct insurance on tender documents and service level agreements as they used to.

Specialist Product

Link to Article

Professional Indemnity (Liability)

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Death, injury, and loss or damage to property because of wrongful advice. All professional people need this cover. Example doctors, lawyers, and architects just to name a few.

Specialist Product  

Directors & Officer's Liability

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Changes in South African legislation made it possible for staff, shareholders, co-workers, and clients to sue directors and officers for any wrongdoing in their personal capacity. If you are an office bearer in your company, beware you are at risk.

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Specialist Product 

Contractors Plant:

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A policy designed for what we call Yellow Machinery. These vehicles are not registered to go on the road and do not need full motor insurance. Mining companies, earth moving. Limitations to this cover need for it to be in combination with other insurance sections.

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Specialist Product 

Fidelity Guarantee:

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Cover for business owners against dishonest staff. The policy is not limited to money. From experience very difficult to claim, make certain you are aware of all conditions and exclusions.     

Financial Guarantee:

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For clients who have to give financial guarantees, for example, a tender to a municipality, government, or large institutions, instead of putting up your own money you can purchase insurance that handles the guarantee. 

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Specialist Product 

Accidental Damage:

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First loss 

Cover for damage to goods not covered somewhere else. For example, the shelving in a liquor store collapses, and bottles break.   

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Employers Liability:

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Another section was designed because of exclusion from the general liability policy. The staff of a business if injured or dies whilst on duty is not covered unless the business purchase this section. This does not replace workman's compensation that is compulsory in South Africa.

Sasria (Political Riot)

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Cover unique to South Africa and started before 1994. The cover received a lot of press with the looting incidents we had in 2021. The cover is cheap, make certain your business is properly covered. 

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Sum Insured Follow Those Of Underlying Policy

Machinery Breakdown:

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Some businesses are dependent on machines for example a printer company. The client buys the insurance to cover breakage not covered under the guarantee or service agreement.

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Specialist Product

Machinery Breakdown Loss Of Profits:

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Cover for the financial losses incurred because of the breakage covered in the previous section. We have seen the demand for these sections decrease in the last 15 years it must be because of more comprehensive service agreements with machine suppliers.

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Specialist Product

Legal Support Service:

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Insurance to pay for certain legal services a business may need to defend itself.

Emergency Assist:

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This cover has become more and more popular over the years. It provides the insured with a wide variety of assistance for things like a car breaking down to a burst geyser. Some products give it automatically others you need to apply for it.

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Specific Niche Products For South African Businesses Only

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List To Inform You Of The Existence Of These Products.

Transport Company (Specialist Heavy Commercial Vehicles):

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We at AS Brokers acquired a new agency with a new player in this market set to bring new innovation to assist transport companies in managing the risks. Different options to insure the vehicle for retail, market, or agreed value are just one of the many features.  

Restaurant Specialist Product:

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The restaurant faces its own unique risks and our insurer created a product to cater to this industry. 

Lawyers Specialist Product:

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Product designed to cater to this industry specifically.

Accountant Specialist Product:

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Product designed for accounting firms in South Africa

Farmers Specialist Product:

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Farmers are business owners and need business insurance tailored for them.

Crop Insurance:

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Specialist Product

Farmers take huge risks by putting a lot of money in the ground and many things can go wrong before a crop gets harvested. Just think about hail damage to a wheat crop.

Aviation:

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Many business owners own their own aircraft and they need to be covered.

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Specialist Product

Commercial Crime:

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Businesses fall victim to commercial crime and are a risk to be looked at.

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Specialist Product

Cyber Crime:

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Businesses can fall victim to criminals that are on the other side of the world today.

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Specialist Product

Employment Practices  Liability:

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Specialist Product

Financial Institutions:

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Specialist Product

Medical Malpractice:

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Specialist Product

Pension Fund Trustees:

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Specialist Product

Body Corporate:

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Sectional title and full title complexes have a variety of insurance companies catering for specialist products. When your complex insurance is due for renewal get a competitive quote.

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Specialist Product

Fuel Retailers:

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This was one of the industries that were first to receive specialist products. Our insurer is new to the market and offers some new innovations to this industry.

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Specialist Product

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