by George Jennings, Kobus van Niekerk | May 7, 2024 | Consort
Understanding Increase in Cost of Working (ICOW) In the event of an indemnifiable insurable loss, the Insured can potentially be exposed to additional costs incurred to rescue the business. In other words, the Increase in Cost of Working (ICOW) refers to the...
by George Jennings, Kobus van Niekerk | Mar 4, 2024 | Consort
1. Introduction to underinsurance It is a prerequisite of certain classes of insurance that the insurance values are adequate to match the exposure. In the event of deliberate or inadvertent failure to choose a Sum Insured that at least matches or exceeds the value of...
by George Jennings, Kobus van Niekerk | Jan 17, 2024 | Consort
It is important to bear in mind that insurance requirements should be up to date and comply with the key insurance terms and conditions. Always remember that it could be too late to change what went wrong after the occurrence has taken place. You cannot undo or...
by George Jennings, Kobus van Niekerk | Oct 5, 2023 | Consort
Whether a natural or legal entity, we are all subject to risk. Sometimes with unpleasant consequences. Often, people take risks deliberately with the intention to make a profit. It is sensible to take the necessary precautions considering the financial consequences of...
by George Jennings, Kobus van Niekerk | Aug 14, 2023 | Consort
When it comes to Engineering Insurance Consequential Loss, there are various policies that can be considered. These policies are designed and intended to provide for Consequential Loss following an indemnifiable event under the prevailing material damage policy. Some...
