In South Africa, as well as many other countries throughout the world, employee fraud is at an all-time high. Commercial crime risks must be managed, but business owners can also seek to protect their companies through commercial crime insurance.
COVID-19 came as a shock to society, health systems, economies and governments worldwide. The business landscape will face greater uncertainty in the post-COVID period.
These developments and the long-term risk outlook have businesses wondering how to prepare for what may lie ahead.
In times of financial strain/crisis many companies and individuals are forced to cut costs and one cost they cut first is their insurance policies.
We strongly recommend not allowing insurance policies to cancel due to lack of funds or fear of needing the money for other purposes. Instead of letting a policy cancel, call the insurance company or agent and ask for help. Most insurance companies are extremely accommodating during this time, and are generally willing to defer payments, extend payment plans, or do whatever else is needed to help clients.