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Fidelity guarantee insurance

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152 Ann Crescent , Strathavon, Johannesburg- 2031
Gauteng , South Africa  South Africa
Today (Thursday) Open 9:00 AM to 5:00 PM

Fidelity guarantee insurance - Johannesburg

Shackleton danger Management, a valued member of The Shackleton band of Companies, is an authorised Financial solutions company (FSP quantity 33621), specialising in the supply of market commercial insurance coverage services and products to liquidators, attorneys and professional people.

Previously referred to as Court Bond Services, Shackleton Risk Management was putting Liquidation Bonds in KZN since 1999. Today, the organization has representation in every the major South African commercial centers and yearly dilemmas guarantees totalling vast amounts of rands to leading liquidators countrywide. In addition to Liquidation Bonds being offered in its guarantee line, Shackleton Risk Management offers Executor Bonds and Curator Bonds to attorneys, accountants and expert liquidators.

In 2007 Shackleton Risk Management introduced a specialist Indemnity item for Attorneys and Liquidators. This product provides the market standard level of address, however our premiums are extremely competitive. Shackleton danger Management also provides Fidelity Guarantee and Misappropriation of Trust Fund Insurance products to firms requiring expert Indemnity address.

Shackleton danger Management has partnered with Safire insurance provider Limited, a subscribed public insurance carrier authorised to conduct insurance coverage training by the Financial Services Board  in accordance with The short-term Insurance Act 53 of 1998. All policies granted by Shackleton danger Management are issued on Safire insurance carrier Limited paper. Both businesses are completely compliant in regards to the statutory and regulatory needs governing their companies. In underwriting the products in the above list, Safire is supported by the worldwide re-insurance market with Munich Re whilst the Lead Re-insurer.

With consultants in Johannesburg, Pretoria, Cape Town, Durban, Pietermaritzburg, Bloemfontein and Port Elizabeth, including representation in Grahamstown, Kimberley and Mbatho, Shackleton Risk Management offers efficient, effective and individual solution in most areas.

Business Operation Hours
Monday 9:00 AM to 5:00 PM
Tuesday 9:00 AM to 5:00 PM
Wednesday 9:00 AM to 5:00 PM
Thursday 9:00 AM to 5:00 PM
Friday 9:00 AM to 5:00 PM
Saturday Closed
Sunday Closed
Service Type : Yes, this business serves customers at their Location
Emergency Services:Services are available 24 hours a day 7 days a week

Additional Information

Professionals should effectively manage their risk by ensuring that they have appropriate and adequate insurance cover. They need to understand the different types of insurance cover available and necessary for the proper and effective management of their risk.

Insurance cover includes Professional Indemnity Insurance, Fidelity Guarantee Insurance, and Misappropriation of Trust Fund Insurance. In an increasingly competitive world, professionals need certainty that cover offered is adequate, and that premiums are cost effective. Having inadequate insurance cover can lead to catastrophic consequences

Professionals require assurance that claims which arise are processed quickly and efficiently by their insurers. SRM, a proud member of the Shackleton Group of Companies, has the skills and expertise to effectively mitigate the prevailing and future risk attaching to Attorneys, Liquidators, Business Rescue Practitioners as they go about their business.

We dedicate large amounts of time and resources to ensuring that our clients’ needs are adequately catered for. When analysing your insurance needs, it is vital to be guided by an expert service provider like SRM. We understands the risks you face; and can guide you as regards the cover you need. Inadequate cover diminishes your ability to respond proactively when a risk materializes into an event.

The inability to respond adequately to a claim because your firm is underinsured will result in reputational damage. In addition, large corporate clients like banks are reluctant to instruct firms which do not have the requisite Professional Indemnity, Fidelity Guarantee or Misappropriation of Trust Fund Insurance in place.

SRM goes the extra mile to ensure that our clients’ needs are well catered for. Through the creation of bespoke insurance products, we provide our clients with customized solutions that guarantee peace of mind. SRM’s board of directors compromises four attorneys. We fully understand legal risk management. SRM’s team of specialist brokers are knowledgeable and hands-on. We remain at the forefront of the legal insurance industry, and seek solutions to clients’ problems. We proudly promote continued product development.

Our levels of competence are reflected in our operational system and business model. We focus on reputable low risk firms. Selective and careful underwriting reduces cross subsidization of premium and results in savings for our clients. With SRM managing your risk, you can expect unrivalled products and insurance benefits from a reliable and trustworthy service provider. We maintain a zero secondary excess for attorneys, which alone represents savings of between R25 000 and R150 000.

At SRM we pride ourselves on quick and efficient handling of claims, and the access which clients have to top-management and decision makers. In addition to competitive PI premiums, we also offer flexible Fidelity Guarantee Insurance and Misappropriation of Trust Fund Insurance Cover on a named-person, named-position, or on a blanket basis.

Product and Services

Shackleton Risk Management, (formerly Court Bond Services), has been placing liquidation bonds of security in KZN since 1999. Having a number of former liquidation specialists in our management team we know and understand the needs of liquidators and the nature of the industry.

All liquidation bonds are written on Safire Insurance Company Limited, (“Safire”), paper, with Safire being on the Master’s national panel of recognized insurers. Safire issues guarantees totalling of billions of Rands annually to leading liquidators around South Africa and has the capacity to issue bonds for the largest estates in the country.

Shackleton Risk Management’s Professional Indemnity (PI) insurance cover for admitted attorneys provides “top up” cover to bridge the gap between the automatic PI cover offered by the Attorneys Insurance Indemnity Fund (AIIF) (www.aiif.co.za) and their potential PI cover requirements. The AIIF fund provides attorneys operating in South Africa with automatic PI cover of between R1 562 500 and R3 125 000 depending on the number of Partners/Directors in their firms.

The level of Professional Indemnity cover given by the fund is determined by the number of partners/directors in a law firm. Experience has shown that it is sensible to insure adequately against the risks associated with legal practice. Prudent risk management dictates that attorneys should take out top-up cover for claims in excess of the automatic threshold.

In addition to negligence claims, law firms also face the risk of theft by employees. Shackleton Risk Management’s Fidelity Guarantee product is designed to protect law firms from such losses.It covers the insured firm for losses to the business account or physical assets of the practice as a result of employee dishonesty.

Law firms have the options of requiring cover in respect of all employees, specific employees, or specific job functions within the firm. As regards which type of cover to opt for, all you need to do is to fill in the correct check box on the proposal forms supplied prior to quoting.

Misappropriation of trust funds is another risk facing law firms. This type of cover protects the firm from theft/misappropriation of trust fund monies by directors/partners or employees of a legal practice from their trust accounts. Shackleton Risk Management has structured this line of cover as a combined Professional Indemnity.

Fidelity Guarantee and Misappropriation policy.Shackleton Risk Management offers executor bond cover to attorneys, accountants and liquidators appointed to administer deceased estates. Attorneys get free cover through their association with the Law society.Shackleton Risk Management has experience in the insurance guarantee market and is able to assist with Curators bonds. Many curators battle to find capacity in the local market for these types of bonds. SRM in conjunction with Safire is able to provide attorneys, accountants and liquidators cover for bonds of any size

A new and exciting product that Shackleton Risk Management will be rolling out is Directors & Officers insurance, which insures Directors and Officers in respect of claims arising out of their liability for acts or omissions connected to their corporate positions. This cover was once regarded as necessary only for directors and officers of large public corporations, but the current view is that no director of a public company should be without it.

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