Non-life

Why business owners must plan and prepare for recovery

An organisation can suffer a loss at any given moment. The operations of a company can be interrupted not only through the physical damage to property, but through anything that prevents an organisation from carrying out its business as usual. Threats include any sudden, unexpected calamitous event that creates an inability for an organization to provide critical business functions for an undetermined period of time. These interruptions range from events such as natural catastrophes, cyber-attacks and supply chain failures, which may result in great damage or loss to that organization. There are also those incidents that are discovered, eg. fraud, which generally do not cause a significant interruption to the business operations, but certainly result in substantial loss. Companies are becoming increasingly exposed to risk and, more than ever before, need to be prepared to pay for loss mitigation and continuity plans.

Saddling up for a year of increased liability

Reggae icon Bob Marley once famously said that if you know your history, then you will know where you are coming from. If we take this prophetic statement and use it in tandem with Benjamin Franklin’s quote where he said, “If you fail to prepare, then you must prepare to fail,” we can see the true value of foresight and the advantage that it can offer companies.

What Telematics can do for you

Rising corporate crime highlights liability risk for SA businesses

The need for businesses to arrange appropriate insurance to cover employee dishonesty has been highlighted by the recent statistics released by Norton’s Inc., which found that the low conviction rate in the country is one of the reasons white collar crime has increased by about 50% in the past 10 years.