Business Insurance

Business insurance protects your company from financial losses due to property damage, liability claims, business interruption, and other commercial risks. Coverage includes your business premises, equipment, stock, public liability, and loss of income when unexpected events disrupt your operations.

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Every business faces unique risks. We ensure your business has the right protection for complete peace of mind.

Business insurance protects your business against a range of incidents such as:

Fire

Fire, storm, wind, water, hail, snow and earthquake can have devastating effects on your assets and business. Cover includes damage to property owned, or for which the insured is responsible, by fire, lightning or thunderbolt, earthquake, water and additional perils.

Benefits included at no additional costs:
Fire extinguishing, architects’ and other professional fees you may incur through loss or damage to your buildings, equipment or stock.

Theft

Protect your business against loss of, or damage to contents at the insured’s premises should criminals gain forcible entry or exit into your building, including damage due to armed robbery.

Benefits included at no additional costs:
• Damage to the buildings, limited amount.
• Damage to fixtures/fittings, limited amount.
• Locks/keys limited amount
• Theft of office contents is covered under the office contents section.

Money

Keeping cash at your premises is part of doing business. Cover for loss of/or damage to money on your premises or while in transit to and from the bank, for which the insured is responsible. The money containers, loss of locks/keys will also be covered to a limited amount.

Public Liability

Public liability insurance covers you when you or one of your employees causes damage to someone else’s property or causes the death or injury of someone during business.

This includes: Cover that will assist in defending you against a third-party claim. If you are found legally liable, the damages awarded and the third party legal costs, will be covered up to the insured amount.

With the introduction of the Consumer Protection Act, there are certain industries/sectors that are more exposed to risk in terms of liability for example if you are involved in the supply of products, whether you are manufacturing or merely distributing/selling these products on behalf of another company.

Business All Risk

Business all risks provides comprehensive cover for loss or damage to equipment on your premises or while it is off your premises, anywhere in the world. Items such as photographic equipment, cellular phones, tools or any equipment that you travel with and which you use extensively as part of your trade/business.

Buildings Combined

Buildings are exposed to numerous risks that could cause damage to it. Comprehensive cover against fire, lightning or thunderbolt, earthquake, water – to buildings, outbuildings, landlord’s fixtures and fittings, walls, gates, driveways, etc., including loss of rent and legal liability.

Glass

Broken glass can leave your property exposed. Loss or damage to internal and external glass, building signage and mirrors of your property needs to be insured at replacement value, as average will apply. Cost of frames, shopfronts and window displays are covered up to a limited amount.

Accidental Damage

Out of the ordinary events that are not covered anywhere else on your policy. It is difficult to think of everything that can have an impact on your business.

Accidental Damage provides cover for extraordinary events/accidents which might occur that are not insured anywhere else on a policy (e.g. collapse of shelving).

Accidental physical loss of or damage to any tangible property belonging to the insured or for which they are responsible at the premises.

Goods in Transit

There is always a risk whenever goods are being transported.

Goods are often damaged or stolen while being transported, which can lead to unexpected expenses, interrupted workflow and reduced profits.

THREE options are available: Comprehensive cover or Limited cover (damage following a fire, collision or vehicle overturning) or Limited cover that includes theft and hi-jackings. Goods in Transit can also be covered on specified vehicle or annual carry basis.

Office Contents

Your office has many valuable assets from furniture to important documentation, that needs to be protected.

This cover does not include computers and laptops.

Office Contents provides cover against damage caused by: Fire, Lightning, Explosion, Storm, Wind, Water, Hail, Snow, Earthquake, Impact by vehicles and Malicious damage.

Additional cover • Property owned by the employees limited to the stated amount in the wording, whilst contained in the offices, loss of rent, loss of documents, legal liability documents or increased cost of working.

• Fire extinguishing costs you may incur due to damage of your office contents. To ensure business continuity we include cover for the additional rent you may need to pay to operate from alternative premises until the damage to your office. • You may also extend the cover to protect the property against theft or burglary.

Fidelity Insurance (theft by employees)

No one wants to think that an employee can commit fraud, but theft does happen and it’s often an in-house job.

Compensation for loss of money or other property, or direct financial loss sustained by the insured because of fraud or dishonesty by an insured employee or employees which results in dishonest personal financial gain for the employee concerned.

Business Interruption

Damage to your property may result in reduced turnover or additional expenses which may cause serious business interruption that you did not plan for.

Business Interruption covers loss of gross profit from interruption of or interference with the business following a claim under the Fire, Office Contents or Building Combined sections, but only in respect of perils insured under the Fire section, at the insured premises.

Benefit which you are covered for at no additional cost:
Cover for infrastructural damage that occurs within a 10 kilometre radius that hampers or limits a client accessing your premises.

Additional cover:
At a small additional monthly premium you can also extend your cover to insure your business against a reduction in turnover following damage to the property of clients and suppliers as well as Public utilities and telecommunications.

Business Interruption (Following Machinery Breakdown)

The breakdown of your plant or machinery will have a severe impact on the running of your business.

This section covers reduction in turnover and increased working expenses following a machinery breakdown/ loss (if insured in terms of the machinery breakdown section).

Machinery Breakdown

Protect your business against accidental damage to your equipment and machinery. Your machinery may be covered under the fire and theft section, but this does not include accidental damage.

Benefits at no additional cost:
Costs incurred with overtime, night work, work required on public holidays and express freight to repair the plant and machinery as soon as possible

Deterioration of Stock

Mechanical breakdown of freezers is a constant threat to refrigerated stock. Breakdown of machinery may result in the loss of refrigerated stock. Cover is provided for this occurrence, provided the machinery was insured in terms of the machinery breakdown section.

Electronic Equipment

Computers and electronic equipment are an integral part of your business, insure them properly. Electronic Equipment covers physical loss or material damage to electronic items and needs to be specified.

Benefits which you are covered for at no additional cost:
Replacement and repair of your hardware, The cost of express delivery and overtime.

Additional cover:
You may also extend this section to provide cover for the reinstatement of your data and computer programmes

Motor Traders

Benefits included at no additional costs:
Fire extinguishing, architects’ and other professional fees you may incur through loss or damage to your buildings, equipment or stock.

Business Motor

Loss of, or damage to any vehicle described in the schedule and its accessories and spare parts whilst thereon.

This covers vehicles such as motor cars, bakkies, buses, trucks, trailers, caravans, motorcycles and special type vehicles.

Cover options include:
• Comprehensive cover – all risks (Medical expenses following a motor vehicle accident up to limited amount. Passenger liability cover automatically included up to R2.5 million in respect of motor cars and bakkies. Loss of keys and fire extinguishing charges)
• Limited cover – third party, fire and theft
• Third party only

Additional cover:
Vehicle Hire – when your vehicle is involved in an accident or stolen. You will receive a courtesy vehicle for a limited period as stated in the policy contract.
Excess Waiver – your basic excess will be waived for damages or theft of the vehicle.

Employers Liability

Damages which the insured shall become legally liable to pay consequent upon death of or bodily injury to or illness of any person employed under a contract of service with the insured.

Accounts Receivable

Loss or damage to the insured’s books of accounts whereby the insured is unable to trace or establish the outstanding debt balances owed to him, as a result of an accident or misfortune.

Stated Benefits / Group Personal Accident

Bodily injury caused by accidental, violent, external and visible means to nominated person.

Directors and Officers Liability (D&O)

Directors and Officers Liability is an insurance that protects directors and officers against claims brought against them in their personal capacity by shareholders or stake-holders. Think of Directors and Officers Insurance as a management Errors and Omissions policy.

The cover is provided for wrongful acts committed or alleged to have been committed by directors of officers jointly of individually.

Insurance protection for:

Past, present and future directors, officers, prescribed officers and employees acting in a managerial or supervisory capacity covering:
• Awards
• Legal defence costs
• Investigation costs

Following an allegation of a wrongful act, including (but not limited to):
• Error
• Misstatement
• Act/omission
• Negligence
• Breach of duty

Brought about by:
• Shareholders
• Stakeholders such as (but not limited to) employees, trade unions, government, creditors, competitors, and suppliers
• Any other affected party

The Policy also covers the company:
• When it indemnifies a Director or Officer
• For securities litigation

Cyber Liability Insurance

Every organisation that has a network, online presence and holds or accesses confidential data is at risk for a cyber breach or attack. The nature of the internet means that cyber criminals from anywhere in the world can direct their attention to specific targets.

Most high-profile stories in the media today address the type of data loss that impacts people on a personal level; credit card numbers, medical records, birth dates, ID/passport numbers and other private personal information.
Who needs Cyber Liability cover?

• All commercial entities, including but not limited to the following:
• Any other Commercial entity that holds personal information and data
• Medical / Healthcare
• Retail / Wholesale
• Manufacturing / Industrial
• Construction / Real Estate
• Telecommunications / Media / Technology / Internet Services
• Transportation / Airlines / Travel Sector / Logistics
• Education (Schools, Colleges and Universities)
• Entertainment
• Professionals (Solicitors. Law Firms, Accountants, Insurance Brokers)
• Telemarketing / Call Centre / Internet Services / Data Processing (Outsourcer)
• Government and Municipalities

What is covered?

Data Liability – covering the damages and defence costs associated with a breach of personal or corporate data.

Data Security – damage resulting from any breach of duty that ends in:
• Contamination by Malicious Code of Third Party Data.
• Improper or wrongful denial of access by an authorized Third Party to Data.
• The theft of an access code from premises, Computer System, or employees.
• The destruction, modification, corruption, damage or deletion of Data stored on any Computer System due to a Breach of Data Security.
• The physical theft of hardware.
• Data disclosure due to a Breach of Data Security.

Data Administrative Investigation – provides costs and expenses for legal advice and representation in connection with a formal investigation by a Data Protection Authority or other regulator.

Data Administrative Fines – insurable fines and penalties obligated to pay to a government authority, regulator or data protection. authority for a breach of data protection laws or regulations.
Notification & Monitoring Costs – provides costs and expenses of the Data User for the legally required disclosure to Data Subjects.
Repair of the Company’s and Individual’s Reputation – reimbursement of costs incurred in relation to Reputational Damage due to a claim covered by this policy.

Our Approach

Too many business owners find themselves unprotected when disaster strikes, facing potential financial collapse because their insurance doesn’t cover the risks most likely to affect their specific industry.

At Jacobs Financial Services, we design business insurance tailored to your specific needs and industry risks. This gives you confidence that your business can survive unexpected events and continue serving customers.

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