niche insurance
Prepare for the Unexpected with 1.618 STS.
We understand that one size doesn‘t fit all when it comes to protecting what matters most to you. That‘s why we offer a range of niche insurance products designed to address specific risks and provide you with peace of mind.
We pride ourselves on our ability to cater to your specific needs, no matter how unconventional they may be. Our team of experts will work with you to create a personalised insurance plan that fits your needs and budget.
Don‘t settle for generic coverage when you can have insurance that‘s tailored to your unique lifestyle, hobbies, or business. Discover the peace of mind that comes with niche insurance. Contact us today to discuss your specialised insurance needs and get a personalised quote. Your unique risks deserve a unique insurance solution.
Commercial Crime Insurance
Commercial Crime Insurance also known as fidelity guarantee insurance offers protection to the insured (employer) against fraud and/or dishonesty committed by employees whether acting alone or in collusion with others with the intent of personal financial gain while causing financial loss to an employer.
Medical Malpractice
Medical malpractice is defined as a negligent act or omission by a medical professional that results in personal injury to a patient. It occurs when a medical professional's actions do not meet the accepted standards of practice ensure that you have the required cover in place to assist with such claims.
Professional Indemnity
Professional Indemnity insurance essentially provides the professional insured with indemnity regarding legal liability arising out of the practice of the profession. This normally occurs following the result of negligent acts, errors, or omissions. And unlike the standard public liability policy, the damages that trigger the policy need not be tangible.
Employment Practices Liability
The South African business environment is amongst the most highly regulated in the world. Even where due employment standards have been met, ease of access by the employee to the labour courts results in strained disputes with financial consequences. It is accordingly suggested that this policy may especially interest SMEs.
Environmental Pollution Indemnity
This risk has been identified as a requirement for many businesses that may be subject to civil claims and state prosecutions following sudden and accidental pollution/contamination incidents.
Directors and Officers Insurance
Directors and Officers, as defined in the New Companies Act, are exposed to claims emanating from breaches. Such as breach of fiduciary duties, damages measured against failing to act with reasonable care and skill, and violations of duties as prescribed in terms of the prevailing legislation.
Motor HCV and Fleet Cover
The motor section insures a client for the loss of, or damage to, their trucks, motor vehicles, trailers and equipment due to accidents, fire, hail, or theft/hijack. Whether is your trucks or your company fleet
drone cover
Whether your business operates in the mining, construction, film production, agriculture, or any other industry that relies on drones/ UAVs and holds a valid commercial pilot's licence, our Commercial Drone & Unmanned Aviation Vehicle coverage is tailor-made for you. Regardless of your company's size, whether you're a startup or a well-established corporation, even minor deviations in your drone's flight path can lead to substantial insurance claims. Rest assured, with 1.618, you can take to the skies with confidence, knowing that you are supported by industry-leading expertise.
Our team of experts can safeguard you against a wide range of risks, including damage to your drone, loss or disappearance, third-party liability, and personal accidents. An increasing number of commercial operators opt for 1.618 because our specialised coverage not only protects your drone and equipment but also covers third-party liability.
Event Liability Coverage
No matter how meticulous your risk management plans may be, unforeseen incidents can disrupt any event at any given moment. The Safety at Sports and Recreational Events Act of 2010 mandates the necessity of event liability coverage for specific events, making it a legal prerequisite. In essence, without event coverage, your event cannot proceed. At 1.618, we firmly believe that since not all event companies or events are identical, our team is dedicated to providing you with a tailored solution, perfectly aligned with your requirements, whether you're organising a one-time event or frequent occurrences.
When it comes to Event Liability insurance, we understand that it's not just about meeting legal requirements. Your reputation and financial stability are fundamental pillars in any event, recreational, or exhibition business. What may take years to establish can be swiftly dismantled or severely hinder your growth. If you are an events professional, we are the experts you can rely on to provide the coverage you need to protect your investments.
Prize Indemnity Coverage
For companies with a contractual obligation to offer substantial prizes or contract bonuses and often exceeding their budgetary limits, Prize Indemnity Insurance is essential. This specialised insurance enables you to present enticing incentives in various shapes, forms, or colours, all while ensuring the continuous growth of your business. Whether the odds are ever in your favour or not, you require prize indemnity coverage that's skillfully tailored to your needs.
If you're a brand, company, or sponsor involved in offering promotions, competition prizes, contractual/performance bonuses to sports professionals or teams, then Prize Indemnity Insurance is precisely the winning solution you need. Whether your competition relies on skill or pure chance, ensure that the ball is in your court.
Prize Indemnity Insurance covers a wide range of scenarios, including:
- Tagged fish competitions
- Pick an envelope competitions
- Hole-in-one putting competitions
- Putting competitions
- Online promotions or sports predictors
- Promotions tied to sporting accomplishments
- Contractual bonuses for athletes and teams
- Sports halftime challenge promotions
With Prize Indemnity Insurance, you can confidently pursue your promotional and sponsorship activities, knowing you have comprehensive coverage for unexpected outcomes.
Art and Collectible Insurance
Art and collectibles have emerged as a rapidly growing asset class on a global scale. These items represent years of accumulated value that can diminish in a mere moment. Therefore, it is of utmost importance to invest time in insuring your valuable assets with an expert who possesses a deep understanding of the vast and intricate art and collectibles industry.
Damage, a growing prevalence of cultural crimes, and the risk of forgery can all result in substantial losses concerning your appreciating art pieces and collectibles.
Specialised Coverage for the Art World
Commercial Art World Coverage:
We recognize that everyone from auction houses to dealers is susceptible to the risks of accidental damage or theft of valuable stock, and such incidents can significantly impact business operations. That's why our product is meticulously crafted to safeguard your bottom line. Our unique offering includes the option to incorporate transit, forgery, and defective title coverage, providing comprehensive protection for your commercial art enterprise.
Art Collector Coverage:
Whether your cherished artworks are in a private collection, on display at an exhibition, within a museum, or located at a company's premises; they require bespoke coverage with agreed-upon values. Our coverage includes protection against theft or damage, and you also have the option to include coverage for transit, forgery, or when your beauties are entrusted to a third party. Our experts are dedicated to ensuring that your valuable pieces never lose their true worth.
Classic cars as collectables
We understand that classic cars demand specialised valuations and claims handling techniques. These methodologies differ significantly from standard car insurance. That's why our classic car insurance is meticulously crafted by leading industry experts, all of whom share a deep passion for collecting these treasures.We make sure you can hit the road with confidence!
Your collectible is insured for its accurate, agreed-upon value, as determined by a respected specialist valuator. There's no value limit, and coverage can start at your desired level. Our policies are designed for assets that appreciate beyond their original retail prices over time. This includes accounting for changes in the value of money, vehicles older than 20 years, and coverage for a select group of drivers aged 30 or older. For collectors under 30, we offer a static cover option.
While our focus is on insuring vehicles that aren't regularly driven, including collectibles, we also cover high-value modern and rare vehicles, such as the Ferrari 458 Speciale, F12 TDF, Porsche GT2/3, McLaren P1, or LaFerrari.
Coverage for photographers
As a professional photographer, you understand that even a single day without your camera can result in a month's worth of lost income. Many professionals and enthusiasts are unaware that standard 'all-risk' insurance policies often fall short and lack equipment coverage, which could potentially jeopardise your business.
Our experts are well-versed in the photography market and can provide exceptional service to your broker, addressing every detail of your insurance needs. We cater to the requirements of both enthusiastic hobbyist photographers and seasoned professionals.
Our coverage options include:
- Professional Photographer: Comprehensive coverage for camera equipment, laptops, tablets, public liability, and cellphones.
- Enthusiast Photographer: Coverage designed for camera equipment.
- Our coverage is based on replacement value and is subject to the coinsurance clause for camera bodies and laptops.
Trade Credit & Bond Solutions
Trade Credit Solutions
Balancing the need to maintain cash flow for business growth can be challenging in today's economic landscape. If your business involves delivering goods or services on credit terms, you understand that even a single unreliable debtor can have devastating effects on your entire supply chain.
Our team boasts extensive experience and a keen ability to make sound credit decisions. They take the time to thoroughly analyse and comprehend all the information presented in each case. This, coupled with our deep understanding of the economy and various industries, enables us to offer the right credit management and risk transfer solutions to guide your business in extending credit to your clients safely.
By partnering with 1.618, you gain access to our expertise, allowing you to steadily increase your turnover while mitigating the risks associated with credit extensions.
Navigating credit decisions for a company's financial health, particularly in today's market conditions, can be a daunting task. Our deep understanding of trade credit empowers you to make informed decisions, minimising your exposure to risk. By combining effective credit management with risk transfer strategies, we ensure that no shortcuts are taken, conducting comprehensive credit checks on your chosen debtors to provide you with the knowledge and confidence you need at every step.
We present a tailored coverage designed to safeguard your bottom line. This policy not only acts as security but also provides the flexibility to inject the necessary cash flow precisely when you need it.
Our benefits encompass:
Broad Market Coverage: Our products cater to businesses of all sizes across various industries. Affordability: We offer competitive and negotiable rates for our Trade Credit Cover. Exceptional Service: We are always available to provide expert advice and support tailored to your unique requirements. Partnership Focus: We believe in cultivating mutually beneficial relationships with our brokers, enabling us to deliver solutions that protect and enhance your business. Fiduciary Bonds: We offer comprehensive coverage to all appointed practitioners who are entrusted with fiduciary responsibilities on behalf of the Master of the High Court. This includes attorneys, accountants, and professionals serving as Trustees, Executors, Curators, or Liquidators and in need of Bonds of Security. You can enjoy peace of mind, knowing that your bonds are secured by experts representing a highly reputable, industry-leading insurance provider. If you are an expert in your field, we are the trusted experts to provide you with the coverage you require.
What we provide you with:
- Trustee Bonds: Offering protection for the Trust against losses resulting from actions taken by the Trustees.
- Executor Bonds: Provided in cases where security is a prerequisite for confirming an Executor's appointment.
- Curator Bonds: Comprehensive coverage for the management of estates belonging to incapacitated individuals.
- Asset Forfeiture Unit (AFU) Bonds: Specifically designed for Curator appointments under The Prevention of Organised Crime Act.
- Liquidation Bonds: Safeguarding against losses stemming from the actions of the Liquidator or Trustee during estate wind-ups.
- Asset Insurance Services: Addressing all your insurance requirements related to assets within Estates.
Trustee Liability Insurance
Trustee liability insurance offers protection in cases of actual or alleged wrongful acts, negligence, and fraud committed by an officer of the Trust or Fund. This insurance provides coverage for the legal liability and/or direct financial loss incurred as a result of such actions.
Our policy structure encompasses the following key elements:
- Legal liability: This provides coverage for claims made against the fund or its trustees, particularly in cases of alleged negligence or wrongful acts, including breaches of duty.
- Theft, fraud, and dishonesty: This component of the policy safeguards the fund against losses arising from the dishonest actions of any of its trustees, including theft, fraud, or other dishonest conduct.
- Third-party computer crime: This part of the policy offers protection to the fund against external fraud attempts targeting the insured's computer systems, ensuring financial security in the face of cyber threats from outside parties.
Body Corporate Cover
When it comes to insuring buildings, there's always a lot to consider. Commercial use and community living increase these complexities even more. Our Buildings Insurance ensures seamless operations with coverage that resonates with everyone.
Drawing from decades of experience in handling specialised building claims, we have integrated numerous value-added and extended coverage options as standard features of our policies.
Our comprehensive range of products includes coverage for:
- Sectional Title for Body Corporate schemes (both residential and commercial)
- Homeowners Associations
- Commercial Buildings (both business and residential)
- Homeowners
- CSOS Act Fidelity Insurance
When it comes to insuring buildings, there's always a lot to consider. Commercial use and community living increase these complexities even more. 1.618's Buildings Insurance ensures seamless operations with coverage that speaks everyone's language.
Our coverage provides a range of products meticulously designed to offer insurance solutions for all types of property owners.
Community Living Schemes have distinct needs due to legislative requirements related to insurance. We have crafted coverage that enables Trustees to fully comply with their fiduciary duties in this context.
For Managing Agents, procuring insurance on behalf of Community Living Schemes is significantly simplified through our access to an insurer equipped to deliver exceptional coverage, service, and security to Trustees and unit owners. We are equipped to handle the robust service demands associated with the high claims volume of Community Living Schemes.
Additionally, our in-house claims call centre offers Managing Agents, Trustees, and Unit Owners the convenience of a streamlined telephonic claims process.
Event Cancellation Coverage
Why take any risks with events that could be subject to cancellation, abandonment, or postponement? These events involve significant hours of labour, effort, and financial investment. Any unforeseen mishap can have a substantial financial impact, ultimately falling on the shoulders of the event organiser.
This insurance is a necessity for a wide range of events, including exhibitions, concerts, conferences, processions, festivals, and sports events. Our policy is designed to provide the necessary coverage to safeguard event organisers against financial losses. For this coverage to apply, the event must be either cancelled, abandoned, or postponed due to circumstances beyond the organiser's control.
Some examples of such circumstances include:
- Damage to the venue.
- Technical equipment breakdown.
- Government intervention, such as national mourning.
- Labour strikes, social and political disturbances, or riots.
- Non-appearance of performers due to illness, death, accidents, or travel delays.
- Catastrophic non-appearance of a significant number of individuals or groups, including delegates.
- Adverse weather conditions for open-air events (please note that coverage for this extension must be bound at least fourteen days before the policy's inception).
Key Exclusions to Note:
- Standard exclusions related to war and nuclear events.
- Exclusions related to the threat of terrorism.
- Poor attendance or lack of attendance or participation, especially relevant for ticketed events.
- Exclusions related to financial failure and credit risks.
Claim Payments:
In the event of a cancellation before the scheduled date, the insurance covers costs incurred up to the cancellation date or the agreed-upon date thereafter (as per existing written agreements). Additionally, the insurance covers the costs associated with cancelling any previously arranged agreements. In cases of event abandonment during its course, the insurance covers the costs incurred in reorganising the event. Only the amounts declared in the budget at the policy's inception will be considered for coverage.
