The Role of Insurance Brokers in Crisis Management
Category: Business Insurance
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The Role of Insurance Brokers in Crisis Management
Crises, whether natural disasters, economic downturns, or global pandemics, can disrupt business operations in unexpected ways. When these events occur, insurance brokers play a vital role in helping companies navigate uncertainties, adjust coverage, and ensure they remain protected. Adjusting Coverage in Uncertain Times During a crisis, businesses often need to reassess their insurance policies to…
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Insurance Literacy: Empowering Clients to Make Informed Decisions
Understanding your insurance policy is essential for ensuring you have the right protection when you need it. However, with the complexities of insurance jargon and policy options, it’s easy to feel overwhelmed. This guide will provide valuable tips and resources to help you navigate your insurance with confidence, decode key terms, and review your coverage…
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Insurance for the Gig Economy: Protecting Freelancers and Contractors
In South Africa, the gig economy is on the rise, driven by both choice and necessity. Approximately 10-15% of the workforce now comprises freelancers, independent contractors, and gig workers. This shift is fueled by job losses in traditional sectors and a growing desire for greater work-life balance and improved earnings. Freelance, temp, contract and gig…
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Warranty and Indemnity Insurance: A Key Tool in M&A Transactions in South Africa
Warranty and Indemnity (W&I) insurance has become essential in global mergers and acquisitions (M&A) transactions, and South Africa is no exception. This specialised insurance product provides financial protection to buyers and sellers against unknown liabilities that may arise from breaches of warranties and indemnities in transaction agreements. As M&A activity continues to grow in South…
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Understanding the Unique Needs of Marine Insurance
Marine insurance is crucial for businesses involved in international shipping, as nearly 90% of global trade is transported by sea, according to OECD research. This demand for maritime transport is particularly significant in South Africa, where shipping supports 70% of the country’s trade and is a major contributor to the economy, as noted by Statista.…