Capital Equipment News September 2021

INSURANCE

“The pandemic has been financially devastating and caused much uncertainty for many business owners. It also placed the spotlight on the dire consequences of not having insurance cover in place.”

“We responded to the President’s call to unite in the fight against the pandemic and its ripple effects with a pledge of R320-million in support to the community. R50-million was donated to the National Solidarity Fund and a further R200- million supported feeding schemes in our neighbouring communities. In August 2021, our fund was bolstered with an additional R50-million,” says Coetzee. He says R1-million was donated to #OperationCovid19 to assist with essential food items for the vulnerable and destitute during the national lockdown period. “We also provided additional support to a Diepsloot-based food security programme which was mobilised to supply additional food to the Diepsloot community in Johannesburg, at a time when good nutrition is the backbone to building a strong immune system. “The uncertainty is far from over and we continue to stand together to respond appropriately and responsibly to help South Africa triumph over this pandemic,” he says. b

Ricardo Coetzee, head: Auto & General Insurance

“One of the biggest trends since the advent of the pandemic has been a growing uptake of usage-based insurance. Globally, we are seeing a move towards specialisation. For example, in the United States, insurers don’t offer liability for their contractors’ policies, as they believe this should be dealt with by legal specialists.”

Justin Faure, engineering insurance partner, King Price

TALKING POINTS

The insurer’s multi-faceted approach towards supporting communities in need includes a R320-million relief fund and the provision of food and supplies to the homeless and destitute.

CAPITAL EQUIPMENT NEWS SEPTEMBER 2021 28