Liquidation Bonds
Our underwriter has been placing liquidation bonds of security for many years. Having a number of former liquidation specialists in there under writing management team they know and understand the needs of liquidators and the nature of the industry.
Carl Greaves Insurance Brokers through their underwriters issue guarantees totalling of billions of Rands annually to leading liquidators around South Africa and have the ability to arrange capacity for even the largest estates in the country.
Professional Indemnity (PI) Insurance
Attorneys Professional Indemnity Insurance.
Carl Greaves Insurance Brokers offers Professional Indemnity (PI) Insurance cover for admitted attorneys. We provide “top up” cover to bridge the gap between the automatic PI cover offered by the Attorneys Insurance Indemnity Fund (AIIF) (www.aiif.co.za) and their potential PI cover requirements. The AIIF fund provides attorneys operating in South Africa with automatic PI cover of between R1 562 500 and R3 125 000 depending on the number of Partners/Directors within their firm.
The amount of this Professional Indemnity is automatically determined as a function of the number of partners in the law firm, we find that it is seldom sufficient to adequately hedge all risks faced in the legal profession today. Prudent risk management therefore dictates that attorneys should take out top-up cover for claims in excess of the automatic threshold.
Fidelity Guarantee (FG) Insurance
In addition to negligence claims, law firms also face the risk of employee theft. Fidelity Guarantee product is designed to protect law firms from such loss and covers the insured for loss as a result of theft of their staff members, which ultimately causes loss to the practice. You have the option of asking to be covered in respect of all employees, specific employees, or specific job functions within the firm. In this way we manage a realistic premium for the cover you require.
Misappropriation of Trust Funds
Misappropriation of trust funds is another area where a law firm operating in South Africa may have an exposure and run the risk of loss. As the name suggests, this cover protects the firm from theft/misappropriation of Trust fund monies by Directors or employees of a legal practice, from trust accounts. Our underwriters have structured this line of cover as a combined Professional Indemnity, Fidelity Guarantee and Misappropriation policy.
Executor Bonds
Carl Greaves Insurance Brokers also offers executor bond cover to attorneys accountants and liquidators appointed to administer deceased estates.
Curator Bonds
Many Curators battle to find capacity in the local market for bonds of this nature, through our underwriters we are able to provide attorneys, accountants and liquidators cover for bonds of any size .
Directors and Officers Insurance
Directors & Officers insurance, which protects Directors and Officers from liability arising from actions connected to their corporate positions. This cover was once regarded as only necessary for large public corporations, but now no Directors of public liability company’s should be without it.
