Your reliable partner in risk mitigation
A flagship commercial insurance brand like ours is built on trust. Becoming a respected insurance broker in South Africa takes intent and a consistently excellent track record for over 25 years. We are an indispensable partner to our clients and their businesses because of our impeccable service and genuine value-adding advice.
ABOUT INTEGRISURE BUSINESS
How can your
business benefit?
Embark on your business’s risk management journey with a custom approach crafted just for you. Let our decades of experience guide you towards insurance solutions that ensure your business’s complete protection.
Whether you’re steering a commercial enterprise or a multifaceted business, our partnerships with many of the leading insurers empower us to tailor risk mitigation solutions that truly resonate with your needs. From safeguarding every aspect of farms, such as livestock and crops, to providing comprehensive cover for everything from geysers to solar systems for body corporates, we’re here to ensure peace of mind.
For businesses with unique service offerings, our commitment to your success shines through as we meticulously craft risk solutions designed to fit your specific needs. Whether you’re in the dynamic fields of engineering, construction, or mining, count on us to shield your operations from risks that could otherwise disrupt your journey.
Let’s navigate the future of your business risks together.
Industries we cover
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Additional
Additional protection
Did you know that one of the greatest risks businesses face is litigation? This can result in crippling legal costs, which is why IntegriSure Business offers a wide range of appropriate cover.
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Cyber insurance
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Broadform liability
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Contractors liability
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Directors and officers liability
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Fidelity Performance Guarantee
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Medical malpractice
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Business interruption cover
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Inefficacy and negligence cover.
From our blog
Business Advice | Business survival in the age of state infrastructure deterioration
The latest Allianz Risk Barometer report highlights the top risks confronting businesses in 2024, with the breakdown of critical infrastructure and blackouts or system failures emerging as the top concerns for businesses in South Africa for the second consecutive year. The Landscape of Infrastructure Challenges There is a growing importance of insurance brokers serving as essential partners in managing and mitigating business risks. Beyond traditional insurance products, brokers are now playing an increasingly critical role in procuring alternative risk management solutions aimed at preventing losses. One such example is the adoption of telematics among fleet owners and companies operating numerous vehicles daily on the roads. By analysing data such as patterns of sudden braking or swerving, indicative of encounters with road hazards such as potholes, fleet owners and companies can identify high-risk routes or areas afflicted by road maintenance issues. This enables them to implement proactive measures, such as route adjustments or advocacy efforts for road repairs with local authorities, in order mitigate potential risks effectively. National Infrastructure Plan seeks Public-Private Partnerships A recent assessment by the Southern African Development Community (SADC) reveals that South Africa needs R7 220 billion for financing new infrastructure by 2040 as part of the fifteen-year National Infrastructure Plan (NIP), translating into almost R500 billion per year. The main focus areas of the project include priority sectors such as logistics, water and sanitation, energy, information and communications, and transport. Head of Infrastructure South Africa (ISA), Mameetse Masemola stressed that the participation of the private sector is key to the delivery of the infrastructure projects. She added that government is paving the way in order to facilitate the quick and seamless establishment of public-private partnerships in order to achieve the government’s goal of securing two-thirds of the NIP funding from the private sector. The ongoing port crisis and power outages The ongoing port crisis, which has resulted in major delays caused by congestion and poor infrastructure, highlights the urgency of public-private partnerships. According to the South African Association of Freight Forwarders (SAAFF), port delays exacted a daily toll of R98 million on the nation's economy, impeding the movement of goods valued at approximately R7 billion. In December of last year, Ford South Africa President, Neale Hill, indicated that Ford had to fly freight in due to port backlogs which had a huge financial impact. Related and directly impacting insurance clients, is the availability of parts for repairs to damaged goods and vehicles. We have noted an emerging trend of clients experiencing delays in repairs to vital items, affecting their daily operations which in turn has a direct negative impact on their business. The persistent threat of power outages and infrastructure breakdowns poses significant challenges to businesses, disrupting supply chains and exerting a ripple effect on the overall economy. In November 2023, Nova Economics estimated that load shedding had cost the South African economy almost R225 billion from the first quarter of 2020 to the first quarter of 2023, detracting a cumulative 15% points from GDP growth. Global case studies and solutions The challenges we are facing locally are however not unique to South Africa and we should look to other countries where business have successfully found solutions to address similar challenges. For instance, Cemex, a global leader in building materials, has optimised its supply chain in countries like Colombia and Brazil by investing in alternate transportation routes and leveraging technology. They also advocate for infrastructure improvements in the regions they operate. Similarly, Siemens addresses infrastructure challenges in Europe by offering smart grid technologies for efficient electricity distribution and advanced signalling systems for railways, enhancing safety and reliability. Strategies for business resilience Businesses can implement the following strategies to strengthen their resilience and ensure continuity whilst partnering with their insurance broker for support in this regard: Regular Insurance Cover Review: Businesses should routinely assess their insurance policies in collaboration with their brokers to identify exclusions such as grid failure. They should also explore alternative risk mitigation strategies to minimise potential losses stemming from infrastructure failures. Infrastructure Assessment: Conducting regular evaluations of surrounding infrastructure to identify vulnerabilities is essential. This includes evaluating the condition of roads, bridges, public transport, utilities, and other critical infrastructure components. Identifying potential risks and weaknesses will enable brokers to source appropriate cover and other risk management products to allow businesses to mitigate these risks. Business Continuity Planning: Developing comprehensive plans to sustain operations in the event of potential infrastructure failures. These plans could include strategies for maintaining operations during disruptions, such as alternative transportation routes, backup power sources, and remote work arrangements. It is of the utmost importance that businesses include comprehensive business interruption cover in this strategy to ensure that they can replace any lost business income. Sharing these continuity plans with your broker is essential for evaluating any potential cover gaps should such plans need to be implemented. Investment in Resilient Infrastructure: Businesses and insurers can work with local authorities and community organisations to advocate for investments in resilient infrastructure. This may involve supporting infrastructure improvement projects or participating in public-private partnerships to enhance the resilience of critical infrastructure systems. Communication and Collaboration: Establishing healthy communication channels with relevant stakeholders, including government agencies, emergency responders, and neighbouring businesses, is essential for coordinating responses to infrastructure-related risks. Collaborating with these partners allows businesses to share information, resources, and best practices for mitigating risks and responding effectively to possible disruptions. Furthermore this allows insurers to underwrite risks more accurately and to drive innovation in product enhancements aimed at safeguarding businesses and the economy. By embracing strategic risk assessment planning with their insurance brokers, businesses can strengthen their preparedness and resilience associated with deteriorating state infrastructures, safeguarding against potential disruptions and ensuring sustained operations.
Business Advice | Navigating Climate Challenges: The Strategic Role of Brokers in Risk Management
The frequency of severe weather incidents is increasing at an accelerated pace with infrastructure worth billions of rands continuing to be destroyed. Businesses are grappling with substantial financial losses, as they contend with soaring operational costs to maintain their operations and keep their doors open. This trend is evident in recent natural catastrophes, such as the 2017 Western Cape wildfires, the April 2022 KwaZulu-Natal (KZN) floods, and significant flooding in the Western Cape and along the Orange and Vaal Rivers in 2023. Climate change has become not only a social risk but also one of the biggest financial risks, impacting the national economy. While insurance cover has traditionally served as a safeguard for businesses facing losses from severe weather incidents, there are now emerging concerns and warning signs that could be alarming for businesses. Complex challenges The increasing occurrence and intensity of climate-related risks present companies with a new set of dynamic and complex challenges. As a result of the diminishing appetite of reinsurers to take on specific risks, particularly in regions prone to sever weather events, insurers are finding themselves shouldering a greater portion of the risks compared to the past, leading to a corresponding reduction in their risk appetite. This, in turn, directly impacts businesses. In the past, there were instances where insurers may have been lenient in terms of risk requirements, and in some cases even allowing clients to be non-compliant with a punitive excess. However, we are now observing instances where insurers are steadfast in their insistence on risk prevention measures, with little or no room for negotiation. While this is a prudent approach for insurers to appropriately manage risks, it carries significant and far-reaching financial implications for businesses. This was echoed by findings from a global customer survey, “The Value of Insurance in a Changing Risk Landscape,” that reveals insurance clients across the world’s six largest insurance markets are concerned about future insurability. Over 50% of respondents expect it will become more difficult or impossible to get insurance for natural catastrophes. Non-traditional risk management solutions needed As climate risks intensify, systemic risk grows, posing challenges to the conventional insurance business model. This could result in elevated premiums, rendering insurance either prohibitively expensive or, worse yet, inaccessible. It is our belief that the risk management landscape will undergo a profound transformation, with brokers assuming a central role in safeguarding businesses beyond merely securing appropriate insurance products but in proactively identifying and assisting with non-traditional risk management solutions. It is essential for brokers to provide services that go beyond conventional risk transfer, and incorporate elements such as risk prediction and prevention. Through leveraging their expertise to deliver comprehensive services addressing risk mitigation and fostering positive change, brokers can guide clients in developing robust risk management strategies to ensure uninterrupted business continuity.
Business Advice | Bridging the Gap: The Vital Role of Skilled Brokers in Cyber Insurance
Cybercrime has become one of the biggest risks to business continuity in South Africa yet many businesses are operating without the necessary cyber insurance policies in place, exposing themselves and their clients to significant financial and reputational losses. The reason why some businesses opt not to add cyber insurance cover to their portfolios might however come as a surprise to many. Obtaining cyber insurance can be a tedious and complex procedure for businesses, as it entails submission of a substantial volume of documentation necessary for insurers to assess and underwrite the associated risks. As a broker, in our experience, cyber cover is not the easiest cover to obtain for clients. Whilst we acknowledge and respect that insurers need to accurately underwrite risks, we also believe they should assist businesses in making this cover attainable. What type of insurance do you need? The type of insurance a company needs depends on the risk exposures relative to that particular business. The specifics of what is and is not covered by a policy will largely depend on the insurance provider, but across the board underwriters will review a company’s security protocols. This evaluation will encompass an assessment of preventative measures in place, such as email security, multi-factor authentication status, backup procedures, encryption, firewalls, and user training and awareness. It’s here where a broker plays a vital role in being the intermediary between the client and the insurer and especially assisting clients to provide all the required information to the insurers. The difference between cyber security and cyber insurance Another trend that we have identified is that some businesses confuse cyber security and cyber insurance. Cyber security refers to the proactive technologies, processes and practices aimed at protecting a company’s network, encompassing tools such as firewalls, antispyware software and Virtual Private Networks (VPNs). Cyber insurance helps cover the expenses and services a company needs after suffering a data breach or cyberattack. There are various cyber insurance cover options in the market including security and privacy liability, data recovery and loss of income, business interruption and loss of business income. Some cover options also include cover for legal expenses, a PR campaign to mitigate any reputational or brand damage, credit monitoring services, forensic auditors, customer notification costs, crisis management expenses, and costs in negotiating with hackers or paying ransom demands. Every business needs a cyber insurance policy One thing that can’t be denied is that every business needs a cyber insurance policy. According to Interpol’s 2022 Africa Cyberthreat Assessment report, South Africa leads the continent in the number of cybersecurity threats, with 230 million threat detections identified in 2022. South Africa saw a 100% increase in mobile banking application fraud and is estimated to suffer 577 malware attacks an hour. The concerning rise in cybersecurity crimes serves as a clear indication of a shifting risk landscape and highlights the need for knowledgeable brokers to educate businesses about the necessity and importance of integrating cyber cover into their insurance portfolios. Forge strong relationships with a trusted broker A skilled broker plays a crucial role in explaining the importance of cyber insurance to their clients. They bridge the gap between a business’s perception of their current cyber protection and the actual cover provided by a particular cyber policy, whilst also highlighting the comprehensive value such a policy offers. By forging strong relationships with a trusted broker, businesses can navigate the intricacies of risk management with confidence, knowing they have a dedicated partner who understands their unique needs and can offer tailored solutions for mitigating risks and ensuring uninterrupted business continuity.
FAQ’s
Any questions?
Yes. When you have business insurance cover through IntegriSure, you also have a dedicated account manager who is responsible for overseeing your portfolio. In addition to being available to handle any queries or issues, your account manager will ensure that you’re aware of the latest, most suitable product options out there.
At IntegriSure we take the time to understand your business and its inner workings. This enables us to provide various cover options and recommend the most suitable products for your specific needs. But we do need your help in one respect; namely, keeping us informed of any changes that may affect your risk exposure.
Yes. We know that no business can afford downtime and we strongly advise business owners to include this essential cover in a business insurance portfolio.
As quickly as possible. As your broker, we oversee the handling of your claim alongside the insurer’s claims executive. Because we are involved at every stage, we’re able to apply the necessary pressure, while keeping you up to date.
Still unsure? We’d love to introduce ourselves.
Call us on 010 271 2277 or email us on business@integrisure.co.za.
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