Insurance for Commercial Purposes and its Benefits

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Image credit: Freekpik by gstudioimagen1

With the festivities over and the new year in full swing, what better time than now to switch to a broker that takes a personal approach, offers expert commercial coverage, and makes sure that you, your employees, and the business you’ve worked so hard to build are protected.

When it comes to choosing business insurance, we know it can feel overwhelming, but we’re here to assist.

Professional indemnity insurance

This type of insurance is designed for professionals who provide advice or customer service. It protects you against legal costs and claims for damages to third parties caused by an act, oversight, or breach of professional duty on your part.

Features and Benefits

  • A wide range of policies covering specific professions or other specified fields.
  • Any company or individual who gives advice or provides services should seriously consider having Professional Indemnity Insurance.

Excess liability insurance

Otherwise known as umbrella liability insurance, extends your coverage beyond its primary limits. This could be for things such as car insurance and home or office insurance. This policy includes employers’ and third parties’ liability claims for property damage and motor vehicles. 

Should a visitor to your office or a guest at your home sustain a fall, you may face a claim for a substantial amount you will be responsible for, umbrella liability insurance protects you in these situations.

Who is it for?

  • Both big and small businesses such as manufacturers, financial institutions, hospitality company’s, construction and wholesalers
  • Homeowners

Cyber liability insurance

Economic crime is rising globally, and South Africa is not immune to this looming threat. Cyber liability insurance covers the following if there is a breach of privacy or network security:

  • Downtime of the system resulting in loss of earnings.
  • Security specialists, attorneys, and forensic investigators costs.
  • Third-party liability claims involving compromised data or data systems that have been damaged.
  • Cyber extortion investigation and termination costs.

Who is it for?

  • Any company in business that has an IT system.

Body corporate/Sectional title insurance

According to the Sectional Titles Act, body corporate insurance is a legal requirement in South Africa. Accordingly, on the Body Corporate’s behalf, the trustees will supervise, manage, and administer the Sectional Title Scheme’s finances through appointed agents and employees.

Owners of units in sectional-title properties are required to pay for sectional-title insurance. These costs are included in the levy fee, which owners pay each month for the scheme’s upkeep and maintenance.

CC&A’s reputation for service excellence, a comprehensive insurance approach, and reliability is second to none. As a company that manages everything from single insurance policies to multi-policy portfolios for businesses and individuals, our expertise gives us the ability to offer best-in-class specialist insurance.