Insurance Brokers (Cape)
My family and I have enjoyed a personal and professional relationship with AIB (Cape) for more than 30 years, and have found the staff at AIB (Cape) to be willing and efficient...
Both AIB (Cape) and Etana are serious about looking after client needs properly and genuinely in an open, personal and trustworthy manner. We are proud of our longstanding...
AIB (Cape) and I have, in a business sense, almost grown up together. I am sure it is rare for people to say they have had a warm and personal relationship...
Idasa has had a long-standing relationship with AIB (Cape), initially with regards to insurance, and for the last three years as administrators of our Provident and Medical Schemes...
AIB (Cape) became the preferred insurance broker to PostNet Southern Africa in 1994. Since that time they have serviced our account with integrity, efficiency and a commitment...
Associated Insurance Brokers (AIB Cape) has a wealth of experience when it comes to short-term insurance trends and market conditions...
AIB (Cape) is client centric, our long history and excellent pedigree means that our clients can rest assured that their insurance needs are well taken care of.
Commercial crime essentially refers to commercially related criminal activities such as fraud, employee dishonesty, computer fraud including hacking. This type of criminal activity is commonly referred to as white collar crime.
Major corporate losses can be incurred as a result of technological improvements within business operations. There are also breach risks by employees or third parties. Increased global business downscaling and merging increases potential employee criminal activity and dishonesty.
Businesses differ and each one has it's own unique set of challenges to face, it is up to the business owner to make certain they purchase commercial crime insurance to meet their needs.
Unfortunately what is often the case is that it is those employees who have been employed for many years who manage to tamper and identify system loopholes in order to carry out carry out various criminal activities including cash and stock theft. Fraudulent operations are becoming elaborately sophisticated to the point of bribing employees and threatening them against their will to become accomplices. Be aware, too, of rogues who mimic suppliers, notifying companies of a change in banking details. Always check directly with suppliers before any change of information is implemented..
It is extremely important for business owners, in conjunction with your insurance broker, to conduct risk assessments in order to locate key weak spots that exist in all the operational functions. Prudent planning with regard to commercial crime insurance includes business owners taking into consideration any losses that may have occurred prior to the policy, that are only discovered after being insured, are also covered.
All said and done, regardless of size or prominence, all businesses face risks of falling victim to fraud and it should be part of any risk management programme to ensure that Commercial Crime insurance is in place.
Our long history and excellent pedigree means that our clients can rest assured that their insurance needs are well taken care of.
AIB (Cape) is client centric and whether your insurance needs are personal, commercial, corporate or specialized, AIB (Cape) is the broker of choice in the following areas:
|Art Insurance||Building Insurance|
|Commercial Crime||Commercial Insurance|
|Construction Insurance||Credit Insurance|
|Engineering Insurance||Fidelity Guarantee|
|Liability Insurance||Marine Insurance|
|Motor Insurance||Travel Insurance|
|Vehicle Insurance||Yacht Insurance|
Frequently Asked Insurance Questions:
Q : What is an Insurance Broker?
An Insurance Broker is a FAIS licensed professional with the necessary "Fit and Proper" requirements to act on behalf of the client (insured) in all dealings with the insurance companies (insurers). They act as an agent for the insured (except in the collection of premiums) when dealing with the insurers.
Their main functions are to ensure that the insured's insurance business is placed with a reputable company, at competitive premiums and, at claims stage, to negotiate with insurers on the insured's behalf, to ensure that the insured receives the most favourable settlement and to deal with difficult claims in the best interest of the insured.
Q : Will an Insurance Broker save me money?
One of the functions of an Insurance Broker is to ensure that your premiums are competitive. As most insurers rely on brokers to maintain the relationship and act on behalf of the insured, in most cases, dealing directly with the insurer will in fact cost the client more as there is no one acting in their interests with regard to, inter alia, pecuniary matters.
Q : Why would my company need an Insurance Broker?
You know how to run your business - but how much do you know about the insurances available and the basis upon which to insure your assets, potential reduction in turnover and liability, to name but a few exposures? A professional Insurance Broker will assess your business risk, identifying your insurable risks and evaluating them in financial terms. Together with you an Insurance profile is achieved and your broker will then approach the insurance market to ensure that your business is placed with a reputable insurer at competitive premiums and most favourable terms.
Always ensure that your Insurance Broker is a truly independent brokerage which has no financial interest in any insurer, as this could create a conflict of interest situation. It is also important to ensure that your broker deals with the entire claims process in-house, and does not outsource this function, which is in essence, the most important function following on from the correct placement of risk.
Notwithstanding the advertising, it is not a function of an insurance company to fight for you, the client, to ensure that you receive superior service and personalized attention. This is a fundamental part of an Insurance Brokers' function, professionals who understand the business of insurance and, armed with this expertise, act on behalf on you, the insured, in all dealings with the insurance companies.
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