Tackling the Consumer Protection Act

When the Consumer Protection Act (CPA) comes into effect on 1 April 2011, it will have additional sections that create increased risk and liabilities for business owners.

In response, Mutual & Federal, a member of the Old Mutual Group, together with specialist business partner Camargue Underwriting Managers, has launched a unique solution which includes wider insurance cover as well as CPA-specific value added services.

“Our solution offers not only appropriate enhanced insurance coverage, but also extends to include risk management and advice by specialists on those aspects of the Act that cannot be covered by insurance,” says Wayne Richards, group manager: Underwriting and Product Solutions at Mutual & Federal.

“Mutual & Federal policyholders and brokers who avail themselves of the new Multisure broad form offering will have a distinct advantage over the rest of the market,” he says. “In addition to wider insurance cover, the solution also provides an array of business enhancing tools that protect any business from the new ‘trade risks’ arising out of the CPA.”

These services include:

· Access to a web-based Consumer Protection Portal, which directs businesses to those parts of the legislation and regulations applicable to their specific industry;

· A CPA legal advisory call centre designed to assist policyholders in navigating the new consumer terrain;

· Private arbitration facilities;

· Assistance with contracts, indemnities and focused CPA inquiries; and

· Industry-specific CPA tools (particularly in high-risk environments).

“Mutual & Federal brokers have been informed of these new solutions,” says Richards. “We advise business owners to contact their brokers to ensure that they have optimal protection in place and access to these exciting additional services.”

Mutual & Federal is one of the leading insurers in southern Africa.