Insurance is a mechanism for protecting people against losses damage, injuries, and costs associated with unforeseen events. Insurance is generally defined as a method of spreading risk of loss through a pooling mechanism. Insurance provides protection against a predictable event that arises unexpectedly. Insured losses may arise through natural events, such earthquakes, floods, hurricanes, windstorms, and other natural causes. In the event of losses covered by an insurance policy, the insurance carrier will pay for losses in accordance with the terms of the policy.
Motor insurance can cover your motor vehicle against accidental damage and theft. It can also protect you from the financial costs of repairing or replacing another person’s vehicle in an accident where you are at fault.
Generally, you can choose to insure your car for an agreed amount, or for the market value of your vehicle.
If your car is damaged in an accident where you are at fault, having comprehensive motor insurance helps to pay for repairs - or can replace it altogether if your car is written off.
If your car is stolen, comprehensive motor insurance can pay you the agreed or market value, so you can buy another car.
Third party property damage (TPPD) insurance - can cover the costs you may be liable to pay if you are at fault and damage or write off someone else’s car - is also available as a standalone policy. However, if you only have this cover, there is no cover for any damage to your own car.
A business takes years to build – but an accident or disaster could destroy it all in minutes. That’s why businesses should help protect themselves with a quality business insurance pack.
With the right cover in place, owners can run their business with confidence, knowing that their premises, stock, equipment, and reputation are protected by insurance.
Business owners can benefit from taking out an affordable and comprehensive business insurance pack to help protect them against the main risks involved in running a business.
Business insurance packs can offer general protection for a business, which may include cover against:
Home insurance can protect you from financial risk if your home is damaged or destroyed, and can also cover your homes contents if they are damaged, lost or stolen. You can take out cover for specific listed events only or for wider accidental cover, depending on your needs.
If your home and its contents were damaged or destroyed in a natural disaster or accident, or all your valuables were stolen, could you afford to replace them?
If not, we are here to help.
Home and contents insurance can even protect you against legal liability if someone is injured or killed on your property.
Buildings Insurance is designed to cover the restoration cost should your home suffer any damage to its structure caused by unexpected calamities like burst pipes, fire, floods and many other acts of nature and accidents.
Without building insurance, you could lose your valuable investment if it is damaged or destroyed.
You could also lose income from rent if you are unable to rent it out during repairs, or if your tenants get evicted or break the lease.
When you are working on a construction site, plenty of things can go wrong. Damage or loss to a building could cost you time, money and even your reputation. Meanwhile, an onsite injury can result in considerable pain, stress, and financial loss.
That is why having the right amount and type of contract works insurance is an important part of your business toolkit, allowing you to get on with the job with less stress and worry.
Contract works insurance is recommended for small, medium, and large commercial, industrial, domestic builders, sub-contractors and owner-builders.
Most owner builders take out contract works insurance for a specific contract, while professional builders generally choose an annual policy that covers multiple contracts.
If your business takes you across, land, seas or by air you can be exposed to risks from mother nature, misadventure, piracy, road accident and even theft.
Such risks can prevent your commercial vessel, cargo, or truck from reaching its destination, or cause costly damage during transit.
Good in Transit Insurance refers a range of insurance products which help protect your business from loss or damage to vessels and cargo. It can cover the door to door delivery of goods worldwide, by sea, road, rail and air - including their storage on the way.
Marine transit insurance is important for businesses involved in shipping or receiving goods, operating watercraft commercially, repairing vessels, running a marina and more.
Marine insurance can provide valuable cover on both land and sea for:
Freight forwarders
Primary producers
Anyone can make a mistake - but if your business if found liable for negligence, the costs can be financially devastating. Not only can it lead to an expensive lawsuit, but your business’ hard-earned reputation may be damaged as a result.
That is why professional indemnity insurance matters - help protecting your assets and brand if your advice or insurance cause a client to take legal action against you.
Professional indemnity insurance is mandatory in some industries, such as medicine, accounting, law, and financial advisors - with the requirements differing from state to state.
But even in cases where it is not required by law, it is recommended for anyone who is providing professional services or advice in exchange for a fee - like, graphic designers, IT consultants and more. And regardless of your legal obligation, it is often a customer requirement that you have this cover in place.
The Lesotho Workmen’s Compensation Act No.: 13 of 1977 or as amended, states that the employer must insure his employees and himself in respect of liability which he may incur under the provisions of the act.
Workman’s Compensation Insurance provides compensation for workers who get hurt at work, or sick from diseases contracted at work, or for death as a result of these injuries or diseases
Workmans’s Compensation Insurance is compulsory for all Lesotho Employers as stated in the act.