Risk and insurance stories, guidance and commentary from Chadwicks Risk & Insurance Brokers, Cape Town.https://chadwicks.co.za/en-zahttps://chadwicks.co.za/insurance/you-do-not-read-signs-too/https://chadwicks.co.za/insurance/you-do-not-read-signs-too/A boom gate that nearly lands on Tim's bonnet becomes a lesson in the boards and forms we never read. Disclaimers limit someone else's liability, waivers sign away your right to recover (and your insurer's) and indemnities make you carry someone else's loss, which most personal liability policies exclude. Cash back rewards that discourage claiming and missed 30 day notification periods can cost more than the damage itself.Fri, 25 Sep 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/congratulations-on-the-promotion-sorry-your-house-is-part-of-the-deal/https://chadwicks.co.za/insurance/congratulations-on-the-promotion-sorry-your-house-is-part-of-the-deal/If you approve budgets, hire and fire or sign off on decisions, the Companies Act can put your personal assets on the line. D&O insurance protects decision makers against claims for breaching their duties and its most valuable part is paying defence costs long before any court decides. Check severability, whether defence costs sit inside the limit and whether the sum insured can defend every decision maker.Thu, 27 Aug 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/travel-insurance-pack-your-travel-policy-before-you-pack-your-bags/https://chadwicks.co.za/insurance/travel-insurance-pack-your-travel-policy-before-you-pack-your-bags/Travel insurance costs a fraction of the trip and can save the whole financial year. Cancellation cover only helps if you buy it when you book, South African medical aid cannot guarantee payment to a foreign hospital and free credit card cover is often too thin for a serious emergency. Alcohol, foreseeable risks and missing paperwork are the usual reasons claims fail and rejections can often be overturned with the right push.Mon, 24 Aug 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/risklabs/kindly-revert-soonest/https://chadwicks.co.za/risklabs/kindly-revert-soonest/Office English like kindly revert soonest was hiding responsibility long before AI and AI has simply made vague writing faster and more convincing. In insurance, soft words like temporary, regularly and approximately turn expensive after a loss. Polished text feels true without being true and AI tends to agree with whoever is asking, so the real question is not which machine wrote something but which person stands behind it.Tue, 04 Aug 2026 00:00:00 GMTrisklabshttps://chadwicks.co.za/insurance/motor-insurance-whatsapp-can-wait/https://chadwicks.co.za/insurance/motor-insurance-whatsapp-can-wait/A telematics device that earned Attie a R75 monthly discount also recorded that he was holding his phone when another driver rear ended him. His claim was eventually paid because his phone did not cause the accident, but the data gave the insurer grounds to investigate. Before accepting a premium discount, understand exactly what the device records and how it can be used against you at claim time.Tue, 28 Jul 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/the-grey-rhino/https://chadwicks.co.za/insurance/the-grey-rhino/In 2021 Frikkie paid R1.1 million for armed guards during the unrest, never knowing his Sasria cover would have paid for them because his broker never mentioned it. With another shutdown on the calendar, he treats it as a grey rhino, a threat everyone can see coming and plans first: security on retainer, split stock, a second income stream and a proper read of his contracts. Insurance comes last, as the parachute.Fri, 26 Jun 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/motor-insurance-not-sharp-sharp/https://chadwicks.co.za/insurance/motor-insurance-not-sharp-sharp/A martial eagle drops a springbok on a 2025 Discovery windscreen and a direct insurer approves a R5 101 aftermarket replacement instead of the R34 498 original, citing a policy clause and an odometer just 5km past warranty. Aftermarket glass can affect the calibration of safety cameras, yet the Ombud generally backs insurers here. A risk advisor costs you nothing extra and reads the wording before the claim, not after.Wed, 20 May 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/you-have-been-stormed/https://chadwicks.co.za/insurance/you-have-been-stormed/One click on a free KFC voucher let Storm, a malware as a service infostealer, lift an employee's live session cookie and walk straight past passwords and two factor authentication. Passkeys and a password manager stop this kind of attack and after a breach you must log out every active session, because changing the password does nothing. Assume someone will click, which is why cyber insurance matters.Thu, 23 Apr 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/you-have-a-fuel-problem/https://chadwicks.co.za/insurance/you-have-a-fuel-problem/South Africa imports about 75% of its diesel and holds roughly fourteen days of strategic fuel against a ninety day global benchmark. When an Elgin apple farmer's generator ran dry, his Deterioration of Stock cover did not respond, because running out of diesel is foreseeable, but the fuel pump that seized on restart was sudden mechanical failure and probably covered. Know the difference in your policy before the shortage, not during it.Wed, 01 Apr 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/before-the-flatbed/https://chadwicks.co.za/insurance/before-the-flatbed/A 2023 Defender burns out and the insurer declines the claim, relying on a forensic report that blames an internal defect using evidence the fire itself destroyed. Mechanical and electrical exclusions make sense, but fire sits at the heart of comprehensive cover and the insurer can pay and then recover from the manufacturer through subrogation. High value vehicles belong on a policy that clearly covers resultant fire damage, arranged before the flatbed.Mon, 30 Mar 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/it-wont-happen-to-me/https://chadwicks.co.za/insurance/it-wont-happen-to-me/Julius Caesar ignored every warning before the Ides of March and business owners do the same with cyber risk. Gerrit's IT setup was called bulletproof until ransomware encrypted every file and a cheap direct policy with no business interruption cover left him R4.4 million short. Good security lowers the odds but never to zero, attackers wait patiently inside systems and high net worth individuals need personal cyber cover too.Thu, 26 Mar 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/a-black-cat-friday-the-13th-a-motor-claim/https://chadwicks.co.za/insurance/a-black-cat-friday-the-13th-a-motor-claim/A Friday rear end collision becomes a practical checklist: photograph everything, collect the other driver's full details and call their number on the spot to rule out a fake. You must report an accident within 24 hours and you can do so at any police station, not only the nearest one. Insist on a signed, stamped and correctly dated acknowledgement, because without a case number your claim goes nowhere.Mon, 23 Mar 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/your-car-is-smart-your-thief-is-smarter/https://chadwicks.co.za/insurance/your-car-is-smart-your-thief-is-smarter/Thieves now use relay attacks that boost the signal from a key fob left near a wall, plus OBD port reprogramming and ECU swaps and a GPS tracker helps you find the car rather than keep it. A Faraday pouch, an OBD port lock, a CAN bus immobiliser like Ghost, an RF tracker and a visible steering lock make theft far harder. Even when insured, two excesses, premium hikes and lost time can leave you R150 000 or more out of pocket.Mon, 09 Mar 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/the-silent-debit-order-heist/https://chadwicks.co.za/insurance/the-silent-debit-order-heist/Premium increases are a fact of insurance life, but slipping them through a silent debit order or a 3:36am email is poor service. Insurers should phone clients before the change, explain it plainly and offer options such as adjusting the excess, dropping unused extras or reviewing the sums insured. Cash back rewards for not claiming miss the point and clients should be treated as adults who can manage their own risk.Tue, 10 Feb 2026 00:00:00 GMTinsurancehttps://chadwicks.co.za/risklabs/can-you-insure-against-a-systemic-internet-collapse/https://chadwicks.co.za/risklabs/can-you-insure-against-a-systemic-internet-collapse/When an undersea cable fails and the internet goes down, a business can lose invoicing, banking and email all at once. Cyber policies cover particular events like breaches, restoration, business interruption and liability, but exclude fundamental risks such as war, grid failure and widespread infrastructure collapse. Map your processes, build redundancy with multiple connections, SMS and paper copies, tighten your force majeure clauses, script the first hour and test the plan.Mon, 19 Jan 2026 00:00:00 GMTrisklabshttps://chadwicks.co.za/risklabs/four-landmines-kill-a-r250-million-business-a-chadwicks-case-study/https://chadwicks.co.za/risklabs/four-landmines-kill-a-r250-million-business-a-chadwicks-case-study/A R250 million factory burns down and its Business Interruption policy fails in four ways. The indemnity period covered 12 months when reinstatement would take about 30, gross profit followed the accountant's definition instead of the insurer's, VAT was left out of the sum insured and nobody allowed for the business growing. Each gap triggers underinsurance, which is why cover needs a proper risk analysis rather than a quote.Wed, 14 Jan 2026 00:00:00 GMTrisklabshttps://chadwicks.co.za/risklabs/the-unexpected-guest-at-the-koekemoer-braai/https://chadwicks.co.za/risklabs/the-unexpected-guest-at-the-koekemoer-braai/At a Franschhoek braai, a risk advisor explains why a friend is R2 million out of pocket after a rockslide: his standard policy only covered the events it listed and falling rocks were not one of them. Once assets pass roughly R4 million, an All Risks policy covers accidental loss unless it is specifically excluded. Wine collections need professional valuations, new additions must be declared and 24 hour emergency support matters when things go wrong.Wed, 17 Dec 2025 00:00:00 GMTrisklabshttps://chadwicks.co.za/insurance/south-africas-next-big-scam-app-fraud/https://chadwicks.co.za/insurance/south-africas-next-big-scam-app-fraud/Authorised push payment fraud tricks staff into paying fake invoices using urgency, spoofed suppliers and increasingly AI voice and video clones. In South Africa a payment you authorise is usually your own loss and social engineering cover often comes with low limits and strict verification conditions. Twenty practical controls follow, including holds on new beneficiaries, callbacks to verified contacts, dual approval, test payments and out of hours locks.Tue, 02 Dec 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/the-inconvenient-truth-of-the-flying-laptop/https://chadwicks.co.za/insurance/the-inconvenient-truth-of-the-flying-laptop/A passenger's laptop slipped through a cabin panel into the cargo hold and forced a United flight to turn back. Airlines carry strict liability for injury, death and baggage but almost never for your losses from a delay and they can recover costs from a negligent passenger. Most personal liability policies exclude aviation, so frequent travellers should look at higher limits, umbrella liability and approved OEM batteries.Mon, 01 Dec 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/the-maersk-route-closure-isnt-the-core-issue-insurance-gaps-might-be/https://chadwicks.co.za/insurance/the-maersk-route-closure-isnt-the-core-issue-insurance-gaps-might-be/Since the Maersk AMEX route closed, goods from South Africa to the US East Coast take longer, depend more heavily on one carrier and pass through more transshipment points. Standard ICC (A) cover can be suspended while cargo sits in storage at a hub, excludes spoilage from delay unless a perishables clause is added and needs war cover for high risk zones. Tell your insurer about route changes and insure business outcomes, not only the shipment.Thu, 06 Nov 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/tunnel-vision-who-pays-when-the-road-is-closed/https://chadwicks.co.za/insurance/tunnel-vision-who-pays-when-the-road-is-closed/When a bus fire closed the Huguenot Tunnel, many businesses lost income without any damage to their own property, so standard Business Interruption cover never triggered. Prevention of Access extensions only respond to insured damage within a set radius and one word separates basic from extended cover. Contingent Business Interruption covers damage to roads, utilities and suppliers you rely on, but you have to map those dependencies and ask for it.Tue, 28 Oct 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/are-you-on-insurance-autopilot/https://chadwicks.co.za/insurance/are-you-on-insurance-autopilot/Renewal is the time to audit your insurance, not just approve the premium. Check the insured name matches who owns the assets, confirm the business description, sums insured and Business Interruption indemnity period still fit, look for new exclusions and reduced sub limits and make sure you can prove compliance with warranties. Use your claims and uninsured losses to spot gaps and review how your broker and insurer performed.Fri, 17 Oct 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/travel-insurance-tips/https://chadwicks.co.za/insurance/travel-insurance-tips/Buy travel insurance as soon as you book so cancellation cover is in place and check whether cancellation is included at all. Cancel for any reason cover usually repays only 50 to 75% and has conditions, checkout tick boxes and credit card cover tend to have low caps and South African medical aid cannot guarantee payment abroad. Check age limits, liability, baggage and missed connection cover and carry both printed and digital copies of your policy.Thu, 02 Oct 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/marine-cargo-insurance-truths-and-myths/https://chadwicks.co.za/insurance/marine-cargo-insurance-truths-and-myths/Carriers' liability is capped at a few thousand rand per package, so importers and exporters need their own marine cargo cover. Incoterms decide who arranges the insurance, CIF usually comes with bare bones Clause C and stops at the port and cover ends once cargo leaves the ordinary course of transit. Insure on landed cost plus 20%, pack to export standard, arrange SASRIA for local unrest and declare cross voyages and sensitive commodities.Mon, 22 Sep 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/top-5-risks-every-south-african-franchise-must-tackle/https://chadwicks.co.za/insurance/top-5-risks-every-south-african-franchise-must-tackle/Franchises rarely fail on headline risks. They fail on the basics, across five areas: continuity, product and customer safety, contracts and compliance, cyber and crime. For each, the article sets out what insurance will and will not pay and the daily discipline that prevents the loss. A risk advisor should use the network's scale for better pricing, pooled performance before any cancellation and quarterly reviews of values, Business Interruption and cover gaps.Thu, 14 Aug 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/one-product-three-unexpected-claims/https://chadwicks.co.za/insurance/one-product-three-unexpected-claims/The 2024 Dark and Lovely shampoo recall shows how one product can lead to three different claims: product liability for harm, recall costs and inefficacy when a product simply does not work. Under Section 61 of the CPA, retailers and suppliers can be sued directly alongside the manufacturer and anything sold after a recall notice is usually excluded as a known defect. Acting fast and keeping records is what protects your cover.Thu, 07 Aug 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/when-cranes-attack/https://chadwicks.co.za/insurance/when-cranes-attack/When a construction crane drops a load on a parked BMW, third party motor cover pays nothing, while comprehensive cover responds to impact by falling objects. The contractor's public liability should respond if negligence is proven, but a R2 million limit is thin against luxury vehicles and injuries, so R20 million or more makes sense. Contractors should control exclusion zones, respect wind limits and keep maintenance records.Thu, 31 Jul 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/what-if-you-shatter-a-priceless-chair-on-an-overseas-holiday/https://chadwicks.co.za/insurance/what-if-you-shatter-a-priceless-chair-on-an-overseas-holiday/After a South African visitor broke a crystal chair in a Verona museum, the lesson is that most local personal liability and travel policies only respond to claims heard in South African courts. A judgment abroad can be enforced against any assets you hold in that country. Frequent travellers and people with offshore property need written confirmation of territorial limits and a specialist or umbrella liability policy.Tue, 22 Jul 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/when-ports-stop-moving/https://chadwicks.co.za/insurance/when-ports-stop-moving/In late 2023, 79 vessels and over 61 000 containers waited outside Durban and delays continued into 2025. Marine cargo policies cover goods on the move, not goods stuck because of port congestion and Business Interruption usually needs physical damage before it responds. Specialist delay extensions exist but are costly, so spreading routes, holding stock buffers and negotiating flexible delivery terms do most of the work.Fri, 18 Jul 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/insurance-gaps-can-be-your-biggest-threat/https://chadwicks.co.za/insurance/insurance-gaps-can-be-your-biggest-threat/The June 2025 Eastern Cape floods caused major losses without buildings collapsing: stranded cargo, contaminated diesel and halted production. Claims shrink when policies separate storm from flood, carry large excesses, have outdated sums insured, miss disclosed changes or find blocked gutters that breach reasonable care. Survey your flood exposure, add prevention of access, utilities and supplier extensions and keep maintenance records.Fri, 11 Jul 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/r2m-lost-to-phishing-email/https://chadwicks.co.za/insurance/r2m-lost-to-phishing-email/One phishing email encrypted the South African Weather Service's systems in January 2025 and cost close to R2 million in lost revenue, with no sign of cyber cover. General business policies do not include cyber risk and cyber insurers expect minimum controls such as multifactor authentication, endpoint protection and staff training. Map which systems earn your income, structure limits around them and test your response to a fake phishing attack every year.Fri, 04 Jul 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/why-do-innocent-drivers-still-pay/https://chadwicks.co.za/insurance/why-do-innocent-drivers-still-pay/Without comprehensive cover, a driver who was not at fault must claim from the other party's insurer, which often assigns partial blame for failing to keep a proper lookout. JD Koekemoer was first offered R26 000 after a 30% apportionment and a low desktop assessment and his dashcam footage turned that into more than R84 000. Comprehensive cover, a dashcam, thorough evidence and refusing the first offer all protect you.Fri, 27 Jun 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/how-to-avoid-a-r423m-unpaid-claim/https://chadwicks.co.za/insurance/how-to-avoid-a-r423m-unpaid-claim/Insurers accepted Lewis Group's COVID Business Interruption claim, but a dispute over whether a R1 million sub limit applied per store or to the whole group sent the matter to arbitration, with Lewis paying costs. The lesson is to find out how sub limits, extensions and dispute resolution clauses work in practice before a loss, by stress testing the wording with a risk advisor.Fri, 13 Jun 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/property-rental-guest-theft/https://chadwicks.co.za/insurance/property-rental-guest-theft/Short term rental hosts in Randburg and Benoni lost R20 000 and R60 000 to one night guests who emptied their flats and both claims failed because there was no forced entry. Once you rent out a property it becomes a business and personal policies do not cover guest theft, lost income or liability to guests. Tell your insurer, take out a proper business policy and vet guests rather than accepting instant bookings.Tue, 22 Apr 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/private-clients-should-have-exclusive-personal-insurance-cover/https://chadwicks.co.za/insurance/private-clients-should-have-exclusive-personal-insurance-cover/Once your personal assets pass roughly R4 million, a standard policy that only covers listed events can leave big gaps, as with a boulder, a smart home malfunction or a power surge. High net worth All Risks policies cover accidental loss unless it is excluded, drop the underinsurance clause, include car hire and worldwide cover and come with a dedicated advisor. The article includes a checklist of signs you have outgrown standard cover.Wed, 02 Apr 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/when-all-risk-insurance-fails/https://chadwicks.co.za/insurance/when-all-risk-insurance-fails/R800 000 of jewellery stolen from an overhead locker on an international flight was declined because the policy required items over R150 000 to be in a locked safe when not worn. Even without that clause, the lack of reasonable care would probably have sunk the claim. All risks does not mean covered however carelessly you act, so treat valuables like cash and keep them on you or in a safe.Thu, 27 Mar 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/car-wash-incident-how-a-simple-car-wash-cost-r1-3-million/https://chadwicks.co.za/insurance/car-wash-incident-how-a-simple-car-wash-cost-r1-3-million/A R1.3 million Ford Everest was handed to a fraudster at a Ballito car wash and the owner's claim was rejected under a trickery clause that applies when anyone looking after your property is deceived. The car wash is liable as custodian and cannot contract out of gross negligence, but the owner still faced a finance shortfall. Check your policy for trickery wording and make sure service providers carry proper liability cover.Sat, 22 Mar 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/supply-chains-vulnerabilities-what-south-african-businesses-need-to-know-for-2025/https://chadwicks.co.za/insurance/supply-chains-vulnerabilities-what-south-african-businesses-need-to-know-for-2025/Load shedding, port congestion, rail limits and cyber attacks all put South African supply chains at risk. A Stellenbosch furniture maker insured for R4 million against an R8 million rebuild cost lost half its claim to underinsurance and ended up R5.2 million short. Geopolitical events and losses with no physical damage cannot be insured, so combine Business Interruption, contingent supplier cover, cargo, cyber and credit insurance with diversified suppliers, buffer stock and solid contracts.Fri, 07 Mar 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/the-hidden-cost-of-quick-and-easy-insurance/https://chadwicks.co.za/insurance/the-hidden-cost-of-quick-and-easy-insurance/Quotes in under a minute and promises of big savings often come with asterisks that only matter at claim time. An algorithm cannot assess your circumstances or explain exclusions and the cheapest premium rarely means proper protection. A qualified risk advisor explains the cover in plain language, recommends insurers known for fair claims and supports you when you claim.Fri, 28 Feb 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/lithium-battery-safety-legal-liability-protecting-your-property/https://chadwicks.co.za/insurance/lithium-battery-safety-legal-liability-protecting-your-property/Lithium battery fires come from thermal runaway and standard water, foam, powder, CO2 extinguishers and fire blankets cannot reliably put them out. A Midrand business lost R35 million with no cover because its installation had no valid Certificate of Compliance and owners can also be liable when fire spreads next door. Use accredited installers, keep your CoC, fit AVD extinguishers and have the system inspected and maintained.Tue, 18 Feb 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/before-you-buy-vehicle-theft-risk-advisory/https://chadwicks.co.za/insurance/before-you-buy-vehicle-theft-risk-advisory/Insurer loss data shows Toyota models, Ford Rangers, VW Polos, Hyundai i20s and Nissan NP200s are frequent theft and hijacking targets. Owning one can mean compulsory tracking, sometimes two devices, plus higher premiums and excesses. Check the vehicle security requirements in your policy schedule and wording and speak to your advisor before you buy.Fri, 14 Feb 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/wildfire-season/https://chadwicks.co.za/insurance/wildfire-season/Wildfire risk peaks in summer for homes near mountains and open veld. Keep 10 metres around your buildings clear, service your firefighting equipment, plan evacuation routes and digitise irreplaceable photos. Landowners next to veld must maintain firebreaks under the National Veld and Forest Fire Act and after Knysna many homes were uninsured or insured at market value instead of the full rebuilding cost.Tue, 28 Jan 2025 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/express-kidnapping-a-growing-threat-in-sa/https://chadwicks.co.za/insurance/express-kidnapping-a-growing-threat-in-sa/Express kidnappers force victims to transfer money from their banking apps and PINs or biometrics do not help under duress. Banks usually will not refund these losses and because the act counts as theft rather than fraud, many crime and cyber policies do not respond. Set transaction limits, keep savings in notice accounts, require branch approval for large transfers and consider specialist kidnap and ransom cover.Tue, 10 Dec 2024 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/risk-beyond-rsa-borders/https://chadwicks.co.za/insurance/risk-beyond-rsa-borders/With DIRCO advising against travel to Mozambique, this is a reminder of how cross border cover works. SASRIA does not apply outside South Africa, territorial limits differ by policy and section and riot and strike cover abroad may need to be added. Disclose your plans, get written confirmation of cover before you go and heed travel advisories, or a claim can fail for lack of reasonable care.Mon, 02 Dec 2024 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/sasria-cover-explained/https://chadwicks.co.za/insurance/sasria-cover-explained/Standard policies exclude riots, strikes, civil commotion, public disorder and terrorism and SASRIA is the state owned insurer that covers them. It offers options such as protecting property before and after a loss, but it has its own terms and does not include your policy's extensions. Review your SASRIA cover before periods of unrest such as elections.Mon, 15 Apr 2024 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/risk-alert-national-shutdown-20-march-2023/https://chadwicks.co.za/insurance/risk-alert-national-shutdown-20-march-2023/Ahead of the March 2023 national shutdown, businesses were urged to prepare: avoid hotspots, clear combustibles, update continuity and evacuation plans, brief security, fill vehicle tanks and look after staff safety. Make sure SASRIA cover is up to date, because it can pay security costs when unrest comes within 10km and for protection during and after a loss.Fri, 20 Oct 2023 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/state-of-the-sa-insurance-market/https://chadwicks.co.za/insurance/state-of-the-sa-insurance-market/The 2022 KZN floods, the energy crisis and global instability hardened the South African insurance market, with premiums up 15 to 20% even for good risks. Grid failure is now excluded and insurers are cutting back on high risk manufacturing sectors while ransomware claims rise. Controlling losses, carrying some risk yourself and cooperating with insurer surveys all help keep cover and pricing.Wed, 20 Sep 2023 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/additional-power-installations-insurance-implications/https://chadwicks.co.za/insurance/additional-power-installations-insurance-implications/Solar and generator installations that touch your distribution board need a licensed electrician who can issue a Certificate of Compliance and roofs may need an engineer's sign off. Check the contractor's own installation and liability cover, tell your broker about the work before it starts and increase your sums insured to include the new system.Tue, 18 Apr 2023 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/email-fraud-rampant/https://chadwicks.co.za/insurance/email-fraud-rampant/Intercepted email fraud happens when criminals get into your mailbox, wait for a payment and change the bank details on a real invoice. Call to verify any change using a number you already know rather than the one on the invoice and have IT set up SPF, DKIM and DMARC, two factor authentication and antivirus. Avoid unknown links and public WiFi and transfer what is left of the risk to insurance.Fri, 24 Feb 2023 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/do-you-rent-out-property/https://chadwicks.co.za/insurance/do-you-rent-out-property/Personal policies are built for personal risk, so renting out a property or other asset usually falls outside them. The exposures are damage to the asset, liability to third parties and lost rental income. Tell your insurer about any rental and confirm your policy schedule specifically notes it.Mon, 20 Feb 2023 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/short-term-premiums-on-the-rise/https://chadwicks.co.za/insurance/short-term-premiums-on-the-rise/In 2023, record inflation, a weaker rand, the KZN floods and riots, power surge claims, crime and parts shortages pushed renewal premiums up across the board. Because every claim is paid from a shared pool, your premium can rise even if you have never claimed, since the increase keeps the pool able to pay future claims.Thu, 16 Feb 2023 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/risk-management-and-your-risk-profile/https://chadwicks.co.za/insurance/risk-management-and-your-risk-profile/Insurance was designed for rare, catastrophic losses, not small everyday ones and your premium follows how often and how much you claim. Protect your risk profile through preventative maintenance, better security and safer driving and absorb small losses yourself so you only claim for what you cannot afford to replace.Mon, 25 Apr 2022 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/risk-management-and-buildings/https://chadwicks.co.za/insurance/risk-management-and-buildings/Heavy winter rain causes a lot of avoidable building damage. Look for damp, mould and water marks inside, check roof sheets, tiles, flashing, drains and gutters outside, fit gutter guards and book a professional roof inspection before the rains. Buildings cover is for sudden events and damage caused by poor maintenance can be declined under the reasonable care condition.Sat, 19 Mar 2022 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/reasonable-care/https://chadwicks.co.za/insurance/reasonable-care/The Ford Kuga fire recall is a good example of the reasonable care condition found in almost every policy. You are expected to act as if you were uninsured and do what any sensible person would to avoid loss, which here means taking the vehicle to Ford for inspection. Claims that could have been avoided can be declined.Sun, 20 Feb 2022 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/no-policy-covers-everything-part-2/https://chadwicks.co.za/insurance/no-policy-covers-everything-part-2/Some losses can never be insured: wear and tear or anything gradual, deliberate or foreseeable, fines and unlawful acts, losses you cannot prove, mysterious disappearance, items you have no insurable interest in and design or construction defects. War, currency swings, bad decisions and pre existing damage are also excluded. Looking after your assets and risk profile reduces how often you run into these.Sat, 15 Jan 2022 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/no-policy-covers-everything-part-1/https://chadwicks.co.za/insurance/no-policy-covers-everything-part-1/Three truths about insurance. Disclosure is an ongoing promise: what you tell your insurer at the start and whenever your risk changes shapes your cover and premium. Read and understand your policy and schedule every time they change, or your expectations at claim time will be wrong. Reputable insurers want to pay claims, but they cannot pay for what was never covered.Sat, 01 Jan 2022 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/late-notification-may-mean-no-claim/https://chadwicks.co.za/insurance/late-notification-may-mean-no-claim/Policies require you to report any event that could lead to a claim as soon as reasonably possible and late notification is a common reason for rejection. Delay can cost the insurer the chance to recover a stolen car or defend a liability claim and handling a third party claim yourself until a summons arrives usually means no cover. Report everything, however small it seems.Wed, 17 Nov 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/international-cargo-risk-insurance-considerations/https://chadwicks.co.za/insurance/international-cargo-risk-insurance-considerations/Importing on CIF terms leaves the seller in charge of your insurance. That often means restricted C Clause cover, hidden premiums and excesses, overseas claims handling, no cover for duty and freight and no cover from the port to your warehouse. Insuring the full journey locally, warehouse to warehouse, gives you All Risks cover, settlement in rand and a marine policy that fits your business policy.Fri, 22 Oct 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/innovation-and-your-personal-insurance-policy/https://chadwicks.co.za/insurance/innovation-and-your-personal-insurance-policy/Renting your home on Airbnb turns a personal risk into an income generating one, so you must tell your buildings and contents insurer. If they accept it, expect exclusions for malicious damage by guests and theft cover limited to forced entry. Your liability to guests also rises, so confirm the liability section stays fully in force, because undisclosed rentals are likely to be declined.Sat, 18 Sep 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/alarms-and-your-insurance-policy/https://chadwicks.co.za/insurance/alarms-and-your-insurance-policy/Having an alarm does not guarantee a theft claim will be paid. Alarm warranties can require you to prove it was set and some insurers require open and close monitoring. Use monitoring even when it is not compulsory, test the alarm regularly and have an armed response service.Sun, 15 Aug 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/house-contents-be-warned-underinsurance-penalties-can-be-severe/https://chadwicks.co.za/insurance/house-contents-be-warned-underinsurance-penalties-can-be-severe/Research found most South Africans with household contents cover were underinsured, many by a large margin. If your sum insured is half the true new replacement value including VAT, your claim is cut by half. Keep an up to date inventory at new replacement value, allow for inflation and new purchases, have jewellery and art valued and consider insuring slightly above your estimate.Tue, 27 Jul 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/global-crisis-impacts-insurance-claims/https://chadwicks.co.za/insurance/global-crisis-impacts-insurance-claims/Currency swings and higher import costs have pushed up the cost of replacing plant and machinery, so many businesses are now underinsured without realising it. Insure for R5 million against a true value of R10 million and every claim is cut in half. A professional valuation gives accurate sums insured and can identify assets to exclude.Sun, 20 Jun 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/cyber-risks-the-world-we-live-in/https://chadwicks.co.za/insurance/cyber-risks-the-world-we-live-in/Every business depends on data and faces POPI and GDPR obligations if personal information is compromised. Good cyber insurance covers your own costs, such as data restoration, notifying affected people, ransomware and business interruption, plus liability to third parties whose data is breached, along with fast access to specialists. Map your data, control access, back up to two platforms and test your defences.Wed, 26 May 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/water-crisis-insurance/https://chadwicks.co.za/insurance/water-crisis-insurance/Drought, water rationing and authorities withholding water cannot be insured, because they affect everyone at once and are foreseeable, which breaks the pooling that insurance relies on. Protect yourself with risk management instead: switch off equipment that needs water, follow the bylaws, test firefighting equipment and keep assessing your risk.Tue, 20 Apr 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/cpa-strict-liability/https://chadwicks.co.za/insurance/cpa-strict-liability/The Consumer Protection Act imposes strict liability on producers, distributors and suppliers for harm caused by defective goods, so consumers no longer have to prove fault and can sue everyone in the supply chain jointly. Businesses cannot contract out of this and should have product liability cover, with recall and inefficacy options, at limits of at least R20 million.Tue, 23 Mar 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/small-things-become-big-things/https://chadwicks.co.za/insurance/small-things-become-big-things/Cheap generic chargers can overcharge batteries, overheat and start fires that destroy homes and spread to neighbours. Your policy should cover sudden fire damage, but reasonable care means replacing a cord the moment it smokes or frays. Use approved chargers, avoid overloaded plugs and never leave devices charging unattended near anything flammable.Mon, 01 Mar 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/card-license-renewal-and-motor-insurance/https://chadwicks.co.za/insurance/card-license-renewal-and-motor-insurance/Drivers who never converted to the card licence are breaking the law and may not be covered, because insurers ask for a valid licence at claim time. An expired card may not void cover, but get written confirmation from your insurer and renew promptly. Businesses must also check that every employee who drives holds a valid licence for that vehicle.Sat, 20 Feb 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/could-you-survive-a-disaster/https://chadwicks.co.za/insurance/could-you-survive-a-disaster/More than 40% of businesses that suffer a serious fire never trade again. Set your Business Interruption sum insured on projected rather than current trading, choose an indemnity period that covers rebuilding, replacing machinery and winning customers back, think about key supplier and customer dependencies and keep a disaster recovery plan up to date.Mon, 15 Feb 2021 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/strict-product-liability-on-the-cards/https://chadwicks.co.za/insurance/strict-product-liability-on-the-cards/The Consumer Protection Act imposes strict liability on producers, distributors and suppliers for harm caused by defective goods, so consumers no longer have to prove fault and can sue everyone in the supply chain jointly. Businesses cannot contract out of this and should have product liability cover, with recall and inefficacy options, at limits of at least R20 million.Wed, 24 Jun 2009 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/late-claim-notification-may-mean-no-claim/https://chadwicks.co.za/insurance/late-claim-notification-may-mean-no-claim/Policies require you to report any event that could lead to a claim as soon as reasonably possible and late notification is a common reason for rejection. Delay can cost the insurer the chance to recover a stolen car or defend a liability claim and handling a third party claim yourself until a summons arrives usually means no cover. Report everything, however small it seems.Mon, 30 Mar 2009 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/personal-insurance-a-quick-checklist/https://chadwicks.co.za/insurance/personal-insurance-a-quick-checklist/A quick self check for your personal policy: premiums paid, sums insured correct for home, contents and car, portable items listed, security requirements met, everything material disclosed and exclusions understood. Your policy is a contract, so read it.Sat, 28 Feb 2009 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/risk-implications-of-the-new-road-accident-fund/https://chadwicks.co.za/insurance/risk-implications-of-the-new-road-accident-fund/Since August 2008 the Road Accident Fund pays medical costs at public tariffs, caps loss of income at R160 000 a year, limits general damages to serious injuries and removes your right to sue the negligent driver for the shortfall. Anyone earning above the cap now needs their own personal accident, disability and medical cover.Wed, 28 Jan 2009 00:00:00 GMTinsurancehttps://chadwicks.co.za/insurance/homeowners-insurance-freedom-of-choice/https://chadwicks.co.za/insurance/homeowners-insurance-freedom-of-choice/The FAIS Ombud ruled that Nedbank could not force a homeowner to insure her bonded property through its own broker. Under FAIS you have the right to make an informed choice, so you may insure a bonded home with the insurer of your choice.Thu, 22 Jan 2009 00:00:00 GMTinsurance