Mutual & Federal has released new insurance products
These products will be added to AgriPlus and Multisure products.
One of the areas that economic analysts say will be affected by the new legislation that increases giant liability exposures, lies in the small to medium sized enterprises (SME's) sector of the market.
Insurance giants, Mutual & Federal, recognised that while there are certain products on the market that give partial cover to SME's, not all of them seem to cover the most important area of all - indemnity with high limits for liability exposure.
"Owners of small to medium sized commercial enterprises can now protect their businesses against potentially large liability exposures with the launch of the Umbrella Liability insurance for SME's," said the Executive General Manager for Business Development and Sales at Mutual & Federal, Caroline Da Silva.
"The good news is that the annual premium, relative to the cover provided, offers real value for money," she said.
The new insurance product is a tag on for accepted Mutual & Federal brands, including AgriPlus, AssetCare Plus and MultiSure.
There is a maximum indemnity limit for R20 million.
"I would encourage brokers to arrange this cover for their qualifying SME's," said Da Silva. "The competitive annual premium makes this cover well worth considering as a vital part of the business planning process."
In the same vein, Mutual & Federal has also made changes to its Multisure product as from June 1st.
These include claims conditions, an increase of sub limits, simplified first amount payments and others.
"We've made these enhancements for the benefit of our policyholders and will continue to find innovative ways to build our service and product offering," said Da Silva.