KEEP UP TO DATE WITH ALL THE IMPORTANT COVID-19 INFORMATIONCOVID-19 RESOURCE PORTAL

FANews
FANews
RELATED CATEGORIES

St Francis fires: R100 million from one insurer alone

14 November 2012 Compass Insurance Company Limited (?Compass?)

Thatch Risk Acceptances (‘TRA’), the specialist thatch underwriter, writing on behalf of Compass Insurance Company Limited (‘Compass’), has estimated its claims from the St Francis fires to be in the region of R100 million.

Paul Carragher, Managing Director at Compass, said that the company takes the payment of claims extremely seriously. “While an event like the St Francis fires is exceptional, and a tragedy for all those concerned, we are grateful that there was no loss of life.

“As a sound insurer, we are prepared for exceptional events and it goes without saying that we are committed to ensuring that our clients’ financial losses – in terms of their homes and contents – are settled and restored at the earliest possible opportunity.

“Compass has an A+ rating on its claims-paying from Global Credit Rating Co and it is a key focus for us to back up this rating with our actions.We are very concerned about our policyholders who have lost their homes, valuables and precious memories from this crisis and we are doing all we can to ensure that at the very least they are able to have their claimssettled timeously.”

Quick Polls

QUESTION

Each year ordinary consumers and their financial and wealth advisers flock to dozens of asset manager ‘outlook’ presentations to find out about economic and investment trends, and the next ‘hot’ company. What do you want asset managers to share during these events?

ANSWER

Asset allocation strategies
Big picture investment themes and how to position portfolios for them
Investment methodologies and historic fund yields
Share tips by the score
fanews magazine
FAnews June 2022 Get the latest issue of FAnews

This month's headlines

A free smoothie does not make a loyal customer
Consequential loss policy court cases
Everything you need to know about death, disability and severe illness cover post-emigration
Are advisers doing all they can for clients’ portfolios?
Financial advisers need help - navigating the complex ESG fund environment
Subscribe now