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Professional indemnity insurance: Who is responsible to ensure that your scheme is protected?

Professional indemnity insurance cover is issued to provide insurance cover for a service provider in case their clients suffer financial loss, injury or property damage resulting from the negligent act, error or omission of the service provider while working for their client. Trustees’ responsibility While a community scheme does not need this kind of insurance, | Read More

Dealing with damages to security gates in community schemes

In a recent social media discussion, the question was raised regarding how the scheme should deal with a situation where a third party accidentally causes damage to common property like a security gate. There are two aspects to consider here: Damage to gate caused by a third-party vehicle (caused by driver, damage to gate) = | Read More

Why cheaper isn’t always better

Generally, we all want insurance that offers the widest (most) cover for the lowest premium but there are a number of other important factors to consider, particularly in the sectional title environment. Potential pitfalls Firstly, there is the matter of policy management. In the sectional title environment, claims ratios should not ordinarily exceed 60% over | Read More

Warehouses and fire risk

Modern warehouses can have complicated configurations which can allow for fires to spread rapidly, making manual firefighting efforts more difficult. These fires regularly result in major damages and losses, not only to the buildings but also stock losses and resultant financial loss (profit). Storage areas can be large and include extensive shelving, block storage, bulk | Read More

Storm season is coming. Are you prepared?

Over the last few years, the storms see to be intensifying across the country, causing increasing degrees of property damage each year. While severe storms do occur from time to time, it appears they are occurring more frequently. Correspondingly, the insurance industry is seeing an increase in the settlement of storm related claims, both in | Read More