General Multi-Peril Cover

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General Multi-Peril Cover

Styles & Co. will work together with you to effectively and dynamically manage your risk and provide bespoke insurance coverage for all your business needs as guided by us and determined by you. We shall appreciate the opportunity to engage with you to conduct a needs analysis and submit free insurance quotes as agreed.

Should specialist insurance programmes be necessary, please refer to the material outlined here.

Although solutions will be tailor-made to meet your specific requirements, the range of covers that will facilitate this exercise are reflected below as a guideline for your initial consideration.

Let’s initiate the conversation that may well result in protecting your principal source of income when calamity strikes.

Cover you may choose to include

(click on the titles to read more)

Accidental Damage

The section of cover operates in a similar manner to Business All-risks (BAR) cover in that the insured does not need to nominate the perils for which cover is to operate. Cover is provided against damage to property as a result of unintentional events which are not specifically excluded. Unlike BAR, however, this section of insurance is confined to the insured property only whilst at the stipulated premises.

Business All Risks

This cover is designed to cover risks to property that may be taken off the premises of the insured on an “all-risks” basis. So, if a loss or damage to the insured property occurs anywhere you will be indemnified up to the limit provided unless the cause of the loss is specifically excluded. We shall advise you accordingly.

Business Interruption

This cover requires specialised attention dependent on your business needs. Here you will be indemnified when your ability to trade is compromised or halted following a major insurance claim. Essentially, Business Interruption is designed to compensate your business against the financial impact consequent upon physical damage to either your property or that of your customers and suppliers.

We shall, together with you, explore the nature of your business to agree on the risks and effects that, if left unattended, will threaten the sustainability of your business after a major insurance loss. In conducting this exercise collaboratively, we shall assess your reliance on your particular supply chain, facilitate the identification of probable risks and work out how to mitigate risks in the current economy..

Electronic Equipment

The most economical way of covering the residual risk of sudden and unforeseen material damage is by means of insurance. As computers are exposed to a wide variety of perils, the best cover is offered by the so-called all-risks policy. Basically, as stated above, an all-risks policy covers all risks that are not expressly excluded. The policyholder therefore need only check the exclusions to see whether the policy meets his requirements. It is important to note that an electronic equipment all-risks policy is extended to include accidental damages resulting from a sudden electrical surge.

Computer insurance policies can include the costs of data media replacement and recopying of data following a loss. This inclusion is only available under an electronic equipment all-risks policy for computers.

In addition to insurance for material damage, there is also a need to cover breakdown-related additional costs and loss of profit. A proportion of the additional costs can be covered by an extension to this effect.

Fidelity

This class of insurance is designed to protect your business against losses incurred through fraud, theft or other acts of dishonesty which involve your employees. Our current environment is plagued by fraud, embezzlement and corruption and demands that you are suitably protected.

Fire Insurance

Insurers will indemnify you against damage to your property caused by fire, lightning, storm, water and other perils as will be discussed.

Money

Money insurance protects you financially against the loss of, or damage to, your money kept in your business property or home.

You will then be covered for loss of or damage to:

  • Cash, cheques, postal and money orders
  • Postage and revenue stamps
  • Credit card vouchers
  • Pre-paid vouchers
  • Gift vouchers and other negotiable instruments

This also covers money containers, clothing and medical expenses under the given circumstances.

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Motor

This cover is available on any of a number of bases. Even though this insurance protection is arranged daily and directly by consumers, we will walk you through the process so as to avoid commonly repeated errors that often result in claims being rejected or other disappointing outcomes.

Personal Accident

The incidence of accidents either in the workplace or on our roads exposes you and your employees to risk, leaving all of us vulnerable to debilitating injury.

Our country’s Road Accident Fund provides cover, however this is on a limited basis. Payments are slow and protection is constrained. Furthermore, while the Compensation for Occupational Injuries and Diseases Act provides some degree of compensation from work-related injuries, the claims process is slow and the awards are limited.

This cover provides comfort to both you and your employees by settling costs in accordance with a scale of benefits and triggered upon the occurrence of accidents of any nature that result in either temporary or total disability.

Public Liability

It is common knowledge that every operation is exposed to legal risks. The risk of being sued by third parties for damages suffered cannot be underestimated. Visitors to your premises may be injured by slipping on wet floors, falling down the stairs or having hot coffee spilled on them which results in injury. More serious claims may naturally occur proportionate to the hazardous nature of activities that your business performs, the services that are rendered and the products supplied.

Here again a conversation is required. Through probative engagement we shall assist you in unpacking your exposure to legal suits. Let us discuss limits and navigate the extent of cover needed for your business.

 

Office Contents

This section of the policy provides cover for your office contents against a range of nominated risks.

Theft

This will be arranged in terms of the identified risk. Generally, the loss needs to be accompanied by forcible and violent access to the insured premises.

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