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Risk & Insurance

Tourism Insurance – Part 7

Understanding-Tourism-Insurance

Part 1 in this series covered an introduction to insurance, an outline on the EC Directive, the basics of risk management, and financial guarantees. Parts 2 and 3 looked at liability insurance, Part 4 continued the subject of liability with ...

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Tourism Insurance – Part 6

Understanding-Tourism-Insurance

Part 1 in this series covered an introduction to insurance, an outline on the EC Directive, the basics of risk management, and financial guarantees. Parts 2 and 3 looked at liability insurance, Part 4 continued the subject of liability with ...

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Tourism Insurance Part 5

Understanding-Tourism-Insurance

Part 1 in this series covered an introduction to insurance, an outline on the EC Directive, the basics of risk management, and financial guarantees. Parts 2 and 3 looked at liability insurance, and Part 4 continued the subject of liability ...

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Tourism Insurance Part 4

Understanding-Tourism-Insurance

Part 1 in this series covered an introduction to insurance, an outline on the EC Directive, the basics of risk management, and financial guarantees. Parts 2 and 3 looked at liability insurance, while Part 4 continues the subject of liability ...

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Tourism Insurance Part 3

Understanding-Tourism-Insurance

Part 1 in this series covered an introduction to insurance, an outline on the EC Directive, the basics of risk management, and financial guarantees. Part 2 looked at liability insurance, and Part 3 concludes the subject of liability, writes Des ...

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Tourism Insurance Part 2

Understanding-Tourism-Insurance

The first part of this series, which has been extracted verbatim (with slight editing) from the SATSA Insurance Directive booklet, was published in January 2016 (read Part 1 here.) Part 1 covered an introduction to insurance, an outline on the ...

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Tourism Insurance Part 1

Understanding-Tourism-Insurance

We all know that insurance is an essential component of risk management that requires annual review to adjust to changes in the commercial circumstances and legal environment in which we operate. What we may need reminding of are the specific ...

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Thunderstorm Season

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As summer approaches the Southern Hemisphere it is important to listen for storm warnings. Weather conditions change rapidly and thunderstorms are especially prevalent at this time of the year, writes Andre du Toit. Objects struck by lightning experience heat and ...

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Risk in Adventure Tourism

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Adventure Tourism header image: Downhill Mountain Biking courtesy of Downhill Adventures. The business of providing adventure activities to tourists is a contentious issue when it comes to securing risk transfer via short term insurance. The reasons are as complex as ...

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Crisis Management in Tourism

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When crisis strikes, there’s often little warning. In the blink of an eye, an incident such as a road accident, hijacking, kidnap, rape, assault, snake bite or life threatening illness inflicted upon your guests could thrust your business into chaos, ...

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PART 3 − Incident Management

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In Part 1 of this three part series, I wrote about the ‘Big 5’ preventative measures in managing risk. Part 2 dealt with the fine print of insurance policies – aka policy wording and in this article I conclude the ...

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The Fine Print

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In Part 1 of this three part series, I wrote about the importance of building a culture of ownership and looked at the ‘Big 5’ preventative measures in managing risk. In part 2, I will deal with the fine print ...

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Importance of Building a Culture of Ownership

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In this three part series I may well be preaching to the converted, as those involved in the tourism industry are far more in tune to risk management due to the very nature of their product or service. In saying ...

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Kidnap & Ransom Insurance

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The threat of kidnap and ransom in African countries is on the rise and companies with employees stationed or visiting places including Nigeria, Somalia, Mozambique and Kenya, which have been kidnapping hotspots, are strongly advised to ensure that they are ...

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Passenger Liability Replacement

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Tourism Tattler readers may be aware that the Constitutional Court found the amendments to the Road Accident Fund Act to be constitutional. As a result, Passenger Liability insurance is no longer an effective risk transfer solution for Tour Operators on ...

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Under Insurance Risks

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The protracted devaluation of the rand over the last two years has left many insured’s with inadequate cover. The effect on claims payments can be catastrophic for clients already under pressure from an unforgiving economic climate. By Paul Halley. Restaurants, ...

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Liability Risks in Tourism

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In the digital information age people and businesses are driven more by technology and mobility than ever before, which can and does lead to errors and omissions. Paul Halley, Managing Director of Ascent Underwriters provides advice on how to transfer ...

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7 Insurance policies for Tour Operators

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All tour operators will require insurance protection, but there are some types of cover that you may not have considered, but could be essential to mitigating the risks associated with your tour company. By Gavin Courtenay. Here are the top ...

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Wildlife Mortality Insurance

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Possibly the highest risk in terms of animal well-being, can be apportioned to animals that are captured and held in bomas awaiting sale at an auction, writes Julian Freimond. Stress and injury followed by exposure resulting in mortality in the ...

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If you were choosing company – whose company would you choose?

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SATIB Insurance Brokers has been providing specialist cover to the tourism and leisure industries for over twenty years and is proud to be considered by many as the leader in this market. From humble beginnings pioneering insurance for wild game ...

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How Risk Influences Travel Decisions

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Tourists are faced with a multitude of decisions when deciding on a holiday destination and one of these is definitely insurance. If something goes wrong, they want reassurance that they will be financially compensated for their loss. By Paul Halley. ...

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Policy Wording, Gaps and Exclusions

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Having an insurance claim declined just when you need it most could cripple your business. Here are some pointers to avoid being left in the lurch. By Des Langkilde. Exclusions and gaps in insurance cover, which can cause a claim ...

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More bang for the buck

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The phrase ‘bang for the buck’ is an idiom meaning ‘value for one’s money’, which is what many insurers aim to provide through client loyalty incentive programmes, and are worth looking into when choosing an insurer for your hospitality establishment, ...

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Insurance from an underwriters view

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Insurance underwriting should integrate with the clients risk management procedures and established practices ensuring that the benefits accrue directly to clients by way of innovative cover options and effective pricing structures with delivered value through closer integration of product to ...

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Look for unique benefits when appointing an insurance broker

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Most insurance companies include value-added benefits in their policies at little or no additional premium to differentiate themselves from competitors, but to find an insurance broker who does the same is rare, writes Des Langkilde. Your insurance broker’s job is ...

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Lockton Global appoints Southern Africa broker partner

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Lockton Global has announced the appointment of SATIB Insurance Brokers as their partner brokers across Southern Africa. Lockton Global clients now interested in doing business in Southern Africa (excluding SA) will be entrusted to SATIB for their insurance and risk ...

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The CPA and Insurance

Risk

There’s been huge reaction to the introduction of the Consumer Protection Act (CPA) in the tourism industry and we have seen this particularly in the B&B and guesthouse sector. Is the news as bad as we’ve been led to believe? ...

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Protecting your business, your staff and yourself against disaster

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A guest who gets bitten by a venomous snake in your camp or a patron who trips over a loose stair tile only to break an arm, perhaps wouldn’t be viewed as a big incident in the vastness of society. ...

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