SATIB Life & Investments would like to draw your attention to the new tax laws* which became effective 01 March 2012.
These laws will affect all employer-owned insurance policies that are provided by the employer for the benefit of their employees or their beneficiaries. These benefits, such as Disability Cover and Funeral Cover, will have to be taxed as a fringe benefit, which means it will be added onto the employee’s payslip and taxed accordingly. If not done properly the employer may be liable.
As an employer, it is important that you communicate this information to your employees and also to ensure that these benefits are taxed correctly, to reduce your company risk.
We can offer individuals a free financial assessment to determine whether they are accurately covered for Death & Disability and that you have sufficient Retirement savings in place. We are also able to review your policy documents and fund rules and assist with communication to your staff.
For more information, please contact Brett Lazarus at SATIB Insurance Brokers:
T 0861 SATIB 4U (72842 48) | C +27 (0)82 445 6666 | E blazarus@satib.co.za.
Source: SATIB Insurance Brokers
Thursday, August 9, 2012
Monday, August 6, 2012
Lockton Global appoints SATIB as their Southern Africa partner brokers
Lockton Global has announced the appointment of SATIB Insurance Brokers as their partner brokers across Southern Africa. Lockton Global clients now interested in doing business in Southern Africa (excluding SA) will be entrusted to SATIB for their insurance and risk related requirements.
Lockton Global is a broker partnership that provides multinational companies risk management, insurance, and employee benefit solutions for more than 1,000 global clients.
Lockton Global partner brokers commit to deliver a high level of client service. SATIB now join the team as one of these esteemed legal partners in Lockton Global.
Lockton was founded in 1966 and are based in Kansas City. Their international head office is in London. Lockton now has more than 4 450 associates in 60 offices throughout 18 countries including USA, Europe, Latin America, Asia Pacific, Middle East and Australia. That, in combination with the Lockton Global partnership of which SATIB is now a member, Lockton serves clients around the world.
Lockton serves more than 15 000 clients worldwide. They have an extremely impressive 95% client retention. They are the largest independently owned broker in the world with $16+ billion in premium being placed and $915 million in revenues.
As a specialist insurance brokerage with more than twenty years in risk transfer experience, SATIB Insurance Brokers pride themselves in providing expert advice on a diverse range of insurance covers suiting their clients’ specific needs.
SATIB share Lockton’s ideal for specialist attention and have taken the approach in developing skilled teams dedicated to each of their six business units to ensure they retain the highest level of focus and expertise required by a particular business or client. Their six business units include Tourism & Leisure, Wildlife, Life & Investment, Commercial & Industrial, Domestic and Sport.
Most insurance brokers look to standard policies as provided by insurers to cover their clients - SATIB take a different approach. They motivate their client’s specific requirements to insurers and secure policies that are both appropriate and relevant to the client’s industry.
SATIB has become recognised throughout Africa as a symbol of quality in risk transfer programmes, with A+ rated security, prompt claims settlement and efficient, personal service. In addition to exceptional products and premier service, dependant on your risk type and territory, SATIB also provides clients with unique benefits such as the SATIB24 Crisis Call facility, risk surveys, property valuations and access to capacity building and legal assistance.
SATIB is responsible for the insurance placement of assets cover of over R20 billion and are also very proud to have retained their level 3 BBEEE status in South Africa.
We are very proud to be chosen and trusted by such an esteemed organisation such as Lockton Global,” says Gavin Courtenay, Managing Director of SATIB Insurance Brokers. They are an extremely successful company whose clients are key to them. This philosophy of client retention we at SATIB base our business on and, due to this symbiotic thinking, we look forward to a very successful and thriving partnership with Lockton Global.
The growth and development of the Lockton Global partnership is important to our clients and our business, and we are very pleased that SATIB agreed to become our Lockton Global partner across Southern Africa,” said Michael Goudime of Lockton Global. We see great connections with SATIB, we both being independent and family owned businesses with a strong client focus. In addition, Southern Africa is an area of growth for our clients especially in the energy, mining, hospitality and leisure sectors.
For Editors:
More than 4,450 professionals at Lockton provide more than 15,000 clients around the world with insurance, benefits, and risk management services that improve business performance. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held insurance broker in the world and 9th largest overall. To see the latest insights from Lockton’s experts, check Lockton Market Update. The Lockton Global partnership serves multinational clients around the world.
Media Contact:
Dean Davison: +1 816 960 9309
Lockton: +1 816 810 0982
ddavison@lockton.com
SATIB Insurance Brokers Contact:
Gavin Courtenay +27 31 564 4200
info@satib.co.za
Source: SATIB Insurance Brokers
Lockton Global is a broker partnership that provides multinational companies risk management, insurance, and employee benefit solutions for more than 1,000 global clients.
Lockton Global partner brokers commit to deliver a high level of client service. SATIB now join the team as one of these esteemed legal partners in Lockton Global.
Lockton was founded in 1966 and are based in Kansas City. Their international head office is in London. Lockton now has more than 4 450 associates in 60 offices throughout 18 countries including USA, Europe, Latin America, Asia Pacific, Middle East and Australia. That, in combination with the Lockton Global partnership of which SATIB is now a member, Lockton serves clients around the world.
Lockton serves more than 15 000 clients worldwide. They have an extremely impressive 95% client retention. They are the largest independently owned broker in the world with $16+ billion in premium being placed and $915 million in revenues.
As a specialist insurance brokerage with more than twenty years in risk transfer experience, SATIB Insurance Brokers pride themselves in providing expert advice on a diverse range of insurance covers suiting their clients’ specific needs.
SATIB share Lockton’s ideal for specialist attention and have taken the approach in developing skilled teams dedicated to each of their six business units to ensure they retain the highest level of focus and expertise required by a particular business or client. Their six business units include Tourism & Leisure, Wildlife, Life & Investment, Commercial & Industrial, Domestic and Sport.
Most insurance brokers look to standard policies as provided by insurers to cover their clients - SATIB take a different approach. They motivate their client’s specific requirements to insurers and secure policies that are both appropriate and relevant to the client’s industry.
SATIB has become recognised throughout Africa as a symbol of quality in risk transfer programmes, with A+ rated security, prompt claims settlement and efficient, personal service. In addition to exceptional products and premier service, dependant on your risk type and territory, SATIB also provides clients with unique benefits such as the SATIB24 Crisis Call facility, risk surveys, property valuations and access to capacity building and legal assistance.
SATIB is responsible for the insurance placement of assets cover of over R20 billion and are also very proud to have retained their level 3 BBEEE status in South Africa.
We are very proud to be chosen and trusted by such an esteemed organisation such as Lockton Global,” says Gavin Courtenay, Managing Director of SATIB Insurance Brokers. They are an extremely successful company whose clients are key to them. This philosophy of client retention we at SATIB base our business on and, due to this symbiotic thinking, we look forward to a very successful and thriving partnership with Lockton Global.
The growth and development of the Lockton Global partnership is important to our clients and our business, and we are very pleased that SATIB agreed to become our Lockton Global partner across Southern Africa,” said Michael Goudime of Lockton Global. We see great connections with SATIB, we both being independent and family owned businesses with a strong client focus. In addition, Southern Africa is an area of growth for our clients especially in the energy, mining, hospitality and leisure sectors.
For Editors:
More than 4,450 professionals at Lockton provide more than 15,000 clients around the world with insurance, benefits, and risk management services that improve business performance. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held insurance broker in the world and 9th largest overall. To see the latest insights from Lockton’s experts, check Lockton Market Update. The Lockton Global partnership serves multinational clients around the world.
Media Contact:
Dean Davison: +1 816 960 9309
Lockton: +1 816 810 0982
ddavison@lockton.com
SATIB Insurance Brokers Contact:
Gavin Courtenay +27 31 564 4200
info@satib.co.za
Source: SATIB Insurance Brokers
Thursday, August 2, 2012
Survey I.R.O EC Directive on Travel Trade Act - Safety Audit
If you work with overseas tour brokers or travel booking agents, specifically those based in European Community countries, you are most likely required to complete and submit an annual Health and Safety Audit or questionnaire to ensure that your company complies with the EC Directive on Package Travel and Holiday Tours Act (90/314/EEC). We are seeing many requests for such compliance issues by international booking agents.
As the custodian of your insurance records, SATIB also provide the SATIB24 Crisis Call facility as a value-added service, which is why we are frequently asked to assist clients in completing or providing substantiation to support these annual audits.
However, the onus still lies with our clients to tick the boxes that are unrelated to insurance and to submit the audit report. This process takes time, which could be better utilized in running your businesses.
For SATIB to provide a truly unique service in this regard, it would be necessary for us to do a physical inspection of our clients property, to make recommendations on any areas that need to be addressed and then most importantly, to get buy-in and approval from the European based agents as to the credibility of SATIB's safety audit and its compliance with the EC Directive.
Should you believe that such a service would be beneficial to your company, please reply to this email.
At this stage we want to gauge the response from our clients to establish that health and safety issue are important and are in fact becoming an issue that needs to be addressed in the interests of international agreements.
Source: SATIB Insurance Brokers
As the custodian of your insurance records, SATIB also provide the SATIB24 Crisis Call facility as a value-added service, which is why we are frequently asked to assist clients in completing or providing substantiation to support these annual audits.
However, the onus still lies with our clients to tick the boxes that are unrelated to insurance and to submit the audit report. This process takes time, which could be better utilized in running your businesses.
For SATIB to provide a truly unique service in this regard, it would be necessary for us to do a physical inspection of our clients property, to make recommendations on any areas that need to be addressed and then most importantly, to get buy-in and approval from the European based agents as to the credibility of SATIB's safety audit and its compliance with the EC Directive.
Should you believe that such a service would be beneficial to your company, please reply to this email.
At this stage we want to gauge the response from our clients to establish that health and safety issue are important and are in fact becoming an issue that needs to be addressed in the interests of international agreements.
Source: SATIB Insurance Brokers
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