Hospitality
Insurance from SATIB Insurance Brokers
SATIB Insurance Brokers are leaders in tourism
insurance, hospitality insurance and risk management
services. We are proud to be affiliated with
the Hospitality Partners Association of South Africa
and can attribute this standing to over 20 years of
dedicated service to the tourism, hospitality and
wildlife industries in Africa.
At SATIB Insurance Brokers, we are proud to offer
a wide range of insurance solutions
to meet the intrinsic requirements of all the industries
we represent: the tourism, hospitality as well as
the leisure and wildlife industries.
Make sure you subscribe
to the HPASA Hospitality Business Hub newsletter to
keep up to date with all the latest industry
occurrences. We’ll also be posting
many informative articles about tourism insurance
and hospitality insurance, as well as all the insurance
solutions that are available within the relevant industries.
Feel free to get
in touch with us should you have any queries relating
to hospitality insurance or SATIB itself.
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October 2011
INSURANCE
AND THE COMPANIES ACT |
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The
introduction of the revised Companies
Act and the advent of the King III
Code on Corporate Governance has necessitated
that companies review their insurance
cover, specifically with regard to
Directors and Officers liability.
Accountability
Greater accountability for companies
and their stewards in general has
created a heightened awareness among
the general public of their rights
of recourse against businesses when
they are perceived to not have conducted
or managed their affairs in a responsible
manner.
Directors
and Officers (D&O) insurance
The personal risks for corporate office
bearers and the reputational risks
for corporates themselves are therefore
significant. The good news is that
these risks can be mitigated through
comprehensively structured Directors
and Officers (D&O) insurance. |
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August 2011
LEISURE TOURISM
STAKEHOLDERS MEET TO SOLVE CRISIS |
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A Leisure Tourism
Stakeholder Meeting was held on 28
June 2011, when around 70 senior tourism
stakeholders met informally to discuss
the current crisis in the leisure
tourism industry and to come up with
solutions.
Chaired by Malcolm McCulloch
of SATIB Insurance Broker’s
client Wilderness Safaris and presented
by Colin Bell (Wilderness Safaris
founder) and Peter Anderson (SATIB
client & strategic partner, Livingstones
Group), the meeting confirmed that
there is a crisis in the tourism industry
and that many establishments have
closed down resulting in job losses. |
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June 2011
CRITICAL PROCEDURES
IN GUEST MEDICAL EVACUATION |
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Most
hospitality establishments have medical
emergency contact details available
to guests in their rooms but without
appropriate procedures and policies
in place, this information can have
adverse consequences.
Picture this scene
The parents of a two-year old child
are busy unpacking suitcases in the
second floor master bedroom of their
plush game reserve suite, unaware
that their active child is happily
climbing the balcony balustrade. At
the sound of their child’s piercing
scream, the mother rushes onto the
balcony and sees her child lying motionless
on the sloping ground eight meters
below.
Shouting for her husband to phone
a doctor as she rushes out the door
to her child; her husband dials the
medical emergency number provided
in the room information directory.
Cradling his cell phone to his ear
as he hurtles to his family’s
aid, the call is picked up by a highly
trained incident manager at the call
centre. On accessing the guests’
location and situation, the call is
immediately patched through to a doctor
trained in remote medical prognosis. |
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December 2010
LIGHTNING CONDUCTION
– A RISK SOLUTION?
By Joe Van Rensburg,
SATIB Risk Solutions |
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An approaching thunderstorm
can raise a lodge owner’s anxiety
levels, sometimes to fever pitch. The position
of the lodge – on a hillside or mountain
- and the region in which the lodge or hotel
is located are factors that will determine
the seriousness with which owners and managers
will regard the threat of a thunderstorm
to the property.
Direct Lightning Strike
A lodge manager recently described in quite
chilling detail what the experience of a
direct lightning strike on the elevated
timber and thatch structure had meant to
him.
Very Lucky?
The appearance of an electric blue shimmering
light on all the surfaces of the lodge’s
main building, gave him the eerie sensation
of a powerful visiting force. Fortunately,
this experience did not result in a fire,
personal injury or material loss, but it
could very well have, with devastating effect.
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October
2010
UTHE UGLY TRUTH BEHIND GUEST ROOM THEFT
By Andre du Toit,
SATIB Risk Solutions |
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To any general
manager or owner of a property in the hospitality
industry, theft from guest rooms has to
be a scourge.
Easy Money
Clothing, laptops, cell phones and jewellery,
do not have the returns of foreign currency
or the speed with which currency can be
exchanged, but the fact remains that guest
room theft is easy money for the perpetrator
and detection is often difficult. |
Guest Room Theft:
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Is often detected too late
to determine the culprit |
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There is often no record of the perpetrator
having entered the room |
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Is a direct invasion of the guest’s
privacy and downright embarrassing for the
owner or manager when dealing with a guest
who has reported a theft. |
Most Stolen
Items that are most often stolen from guest’s
rooms include clothing, cameras, jewellery, cellular
phones and laptops, with foreign currency being
the most sought after. |
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October
2010
UNDER-INSURED?
By Gavin Courtenay,
SATIB Risk Solutions |
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There is a trend within
the insurance industry of increased exposure
to high levels of risk due to possible underinsurance
and the application of the condition of
average by Insurers.
Under-Insurance
Under insurance is where your sum insured
(maximum amount that can be claimed in the
event of a loss) is less than the replacement
/ reinstatement cost of the property or
of specified items. |
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August
2010
UNDERSTANDING RISK IN HOSPITALITY
By Gavin George
at SATIB Risk Solutions |
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Understanding risk in the hospitality
industry can be a tricky business, writes
Gavin George, a Director of SATIB Risk Solutions.
Impact Factors
A weak Rand and rising inflation directly
impact on insurance indemnity limits, resulting
in under-insurance and consequent unhappiness
with claims settlements. Spiralling building
costs and recent developments in liability
claims give food for thought - and action!
Building Costs
Industry Insight is a construction industry
market intelligence firm and they released
a report, which stated that average building
costs have increased by 19,1% year-on-year
and that the composite building cost index
for building materials rose year on year
to 11,8%. According to the report, the
average building rate per m2 had increased
to over R 4,000. However it said more
than 80% of the projects surveyed had
an average building rate of R 5,000 or
more per m2. |
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August
2010
FIRE!
By Gavin George at
SATIB Risk Solutions |
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Combustion is a rapid
chemical reaction in which heat and light
are emitted. A recent article in the Fire
Protection Magazine entitled “How
Fires Start and Why They Spread” provides
us with information on a topic that we are
certainly familiar with.
Fuel Removal
In our business of risk management in the
hospitality industry, our focus is consistently
turned to how to prevent fires by removing
the one of the essential elements in the
triangle of combustion, fuel. |
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June
2010
ROAD ACCIDENT FUND AMENDMENTS |
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Twenty one months after
the Road Accident Fund Amendment Bill was
passed into legislation, it appears as though
little has changed and travellers on South
Africa's roads, specifically in the tourism
industry, still have reason for concern.
Unconstitutional
On 31 March 2010, the North Gauteng High
Court dismissed an application by various
industry stakeholders to have the RAF Amendments
declared unconstitutional. The specific
section, which is causing the controversy
is Section 21, which abolishes the accident
victim's common law right to claim damages
for his or her personal injuries from the
wrongdoer. |
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June
2010
MITIGATE YOUR RISKS DURING THE 2010 WORLD
CUP |
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With hundreds of
thousands of foreign visitors pouring
into the country from the end of this
month, it is well worth examining
your risks and attempting to limit
them.
Threat to Liability
Many tourism and hospitality operators
would like to believe that incidents
are few and far between but SATIB's
24 hour Crisis Call facility itself
manages at least thirty incidents
a day. The threat of liability exposure
is constant and with the influx of
tourists, this threat will be even
bigger.
Basic Steps
to Keeping Guest Safe
Guests believe that they are paying
for the privilege of being safe. |
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GETTING
YOUR LIFE IN ORDER
By Brett Lazarus at
SATIB |
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Taking care of business
and family is important, no more so than
when planning your estate or succession
plan. Death or disability can be disastrous
for the survivors if not properly insured
and managed.
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Advice for Life
SATIB understand this and have formed a
life assurance division. SATIB Life is headed
by Brett Lazarus, a qualified consultant
with extensive experience. SATIB can now
advise you on the best solutions for your
risk needs, all at competitive premiums.
Consider the following:
Buy & Sell
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Should one of the business
owners pass away or become disabled,
do the remaining business owners have
the financial resources to purchase
that person’s interests? |
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Has a Buy & Sell agreement been
put in place and is there funding
sufficient available should the worst
happen? |
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A Buy & Sell Agreement is designed
to protect the shareholding of the
various partners and owners in the
event of death or permanent disability
of one or more of them. |
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It also provides the surviving
owners and partners with the funds
to purchase the shares of the deceased
or disabled person. |
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DO
YOU HAVE AN EMERGENCY PLAN FOR 2010 WORLD
CUP GUESTS?
By Des Langkilde at
SATIB |
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If you will be hosting
guests from overseas for the 2010 World
Cup, consider the SATIB24 Guest Crisis Call
insurance coupon to cover them.
SATIB24 Coupon
Specifically tailored to insure guests’
safety, the SATIB24 coupon is available
to both corporate companies and the local
tourism trade who will be hosting at least
thirty guests from the 1st June to the 31st
July 2010.
This coupon includes:
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insurance cover to pay for incident
management fees, |
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medical evacuation and
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outpatient intervention costs,
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including trauma counselling. |
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Emergency
Incidents
Dr. Simon King, MD of the Crisis Call
Centre says that they are tripling
their capacity to deal with emergency
incidents over the World Cup period.
"SATIB Risk Solutions launched
the guest coupon in January and based
on the response they have received,
it is clear that hosts are taking
their international guests' safety
very seriously during the event"
says Dr. King. |
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| PROFILE
ON SATIB RISK SOLUTIONS (SATIB) |
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SATIB Risk Solutions offer
a wide range of insurance solutions to meet
the intrinsic requirements of the tourism,
hospitality, leisure and wildlife industry.
Offices
With offices in five Provinces within South
Africa and in Botswana, Namibia, Mozambique,
Zambia and Zimbabwe, and correspondent offices
in thirteen other African countries, SATIB
are ideally located to offer the tourism
trade expert risk management and insurance
advice along with prompt claims settlement
and efficient service. |
Support
Backed by the support of insurers
with high financial security protocol,
including Lloyd’s, coupled to
their extensive knowledge of their
clients businesses, SATIB have a unique
recipe for success. |
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| FIRE
SAFETY - SUMMER FIRE MITIGATION TIPS |
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Hospitality and leisure
establishments are exposed to hazards and
potential risk on a daily basis. Statistics
show that exposure is increased during the
months from December through to May.
Statistics
Countless variables are responsible for
these statistics, however with access to
real claims and case studies, Tourism Risk
Managers (TRM), SATIB's preferred experts,
are able identify crucial areas that CAN
be influenced by proactive risk management.
Education and Training
By educating, training and constantly reminding
both staff and guests, potential hazards
are successfully removed, exposure is lowered
and insurance claims are reduced during
this historically risky period. |
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| AESTHETICS
& LODGE SAFETY |
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Most safari lodges are
constructed using materials that blend into
the natural surroundings and offer an element
of aesthetic appeal that has become synonymous
with Africa.
Construction
of Balustrades
A common feature in the construction of
balustrades is the use of weathered tree
branches, with all their twists, gnarls
and often strangely distorted shapes as
either the handrail or supporting baluster
uprights. |
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