Aon South Africa, Commercial Products Solutions - Aon A du Sart 040315.pdf · Aon Risk Solutions 3...

Prepared by Aon Risk Solutions

Aon South Africa, Commercial Products

Solutions SABOA Conference – March 2015

Aon Risk Solutions 2

About Aon


Aon Beauty in Numbers

#1 Rated risk services broker, reinsurance intermediary, and human resource consulting and

outsourcing provider

66,000 Number of Aon colleagues around the world (1,500 in S.A.)

500 Number of global offices (17 Offices in S.A.)

120 Number of countries

$11,8B Total revenue generated by Aon in 2013

There is a 1 in 2 chance that your mobile phone was produced by an Aon client

Aon clients are responsible for designing and manufacturing 70% of the world’s 20 best-selling pharmaceutical

products

Aon placed film insurance for five of the Oscar winners at the annual Academy Awards. In total Aon placed

insurance for 16 of the 26 Academy Award-nominated films

Aon has the largest share of the worldwide space insurance market

One in every 2 bananas in the world is shipped by a company insured through Aon

Seven of the world’s top 10 airlines are Aon clients


Awards & Recognition

South Africa

– Aon received the Best Global Insurance Broker in Africa award for 2013 from Global Finance Magazine.

– Aon Western Cape, South Africa received the 2013 Lion Award at the AIG BIG 7 awards on 28 November

2013.

– Aon Western Cape South Africa received the Top Broker Award 2013 in the National Broker Category on

30 September 2013 at the Mutual & Federal’s Broker Conference/Awards function.

– Aon Bloemfontein South Africa received the Gold Broker Award from Mutual and Federal for the Top

Broker 2013 – Central Region on 12 September 2013.

– Aon Pretoria South Africa received the Mutual & Federal Top Broker Award 2013 in the Northern Region,

National Broker Category (Bronze Broker Award).


Aon South Africa


Aon South Africa

Client Profile

Large multi-national groups

Large national groups

Medium – large organisations

State owned enterprises

Small organisations

Individuals


Major Clients

2010 FIFA World Cup

Ford Motor Company Amalgamated Beverage Industries

Afgri Commerzbank

Anglo American

AfriSam

ArcelorMittal

Astrapak Limited

Aveng Group

Avroy Shlain

Cosmetics

Kiwi

Danone Clover

Canon

FFS Refineries

Bridgestone South Africa

Coca-Cola

Dorbyl

Edcon EDS

Old Mutual

Heineken

Huhtamaki

ICASA

Independent Newspapers

JD Group Joy Mining

Kimberly-Clark

Kraft

Kumba Iron Ore

Lafarge Microsoft

Clientele Life

Growthpoint

Netcare

P & H Minepro

P & O Nedlloyd

Pentair

Pepsico Waco

AVI

SABMiller

SAP UTi

Siemens Southey Holdings

Standard Chartered

Steinhoff TCTA

Telkom

Goldman Sachs

Goldman Sachs

Greif

Bosal Travelex

Transnet

Pfizer

Lear Corporation

LG Electronics

Philips

Maersk

BMW

Mercedes Benz

RBS

Life Healthcare

Fidelity

Rare Energy

Restonic

RCI

Reckitt Benckiser

Unisys Gold Reef

Bidvest

Barclays

Barloworld

McDonalds

York Timbers

Transpaco

Mondi

Transaction Capital

Investec Bank

WBHO

Datatec Limited

Sasol Limited

Foschini

Sentula Mining Limited

Delta EMD

Tsogo Sun Group

Argent Industrial Limited

AFGRI Limited

Eqstra Holdings Limited

Komatsu Southern Africa

Hulamin Limited

Tongaat Hulett Limited

Golden Era Group

Blue Financial Services Limited

Alert Steel Holdings Limited

CMT International Trading

South Ocean Holdings Limited


State of the Insurance Market

South Africa

It is our policy to place your business only with reputable and creditworthy Insurers. We do not accept responsibility for, or guarantee, the future solvency of Insurers or their ability to pay claims.

Load Shedding

With the re-introduction of load shedding by Eskom, a number of claims have occurred due to surges to electronic equipment

The impact of load shedding has caused vehicle accidents, and thefts in office parks as alarms linked to armed response, electronic gates, electric locks and garage doors were not operational,

Fires have also resulted as a consequence of the load shedding

Consumers and businesses are looking for alternatives to address the issue of electricity supply.

Insurers have called for consumers to install surge protection as load shedding causes surges which causes gate motors, garage doors and electronic equipment to be damaged.

Weather / Climate

SA continued to experience severe storms in 2014

56% more claims were reported in March 2014 than in March 2013

Insurers are considering increased excesses for weather related claims

Natural Disasters

SA experienced an earthquake in Orkney in August 2014, measuring 5.5 on the Richter scale. It is the largest earthquake experienced in SA since the Tulbagh earthquake in 1969. Aftershocks continued for a few days thereafter.



New Legislation

Treating Customers Fairly (TCF) was introduced in 2014, and is aimed at ensuring that customers are treated

fairly.

TCF deals with the entire customer experience and, as it is the overarching legislation which governs Financial

Services Providers it is closely aligned with principles already embedded in the Financial and Intermediary

Services Act.

Some parts of the Protection of Personal Information (POPI) Act became effective from 11 April 2014

Liability

Cyber Liability

The cyber attacks in 2014 – a film producing company, and hospitals, raised alarm bells in the sector

It is predicted that cyber attacks will increase in frequency in 2015

Hackers are using more advanced techniques to infiltrate networks

It is predicted that hackers may force victims to pay “ransoms” to get their data back after their systems are

locked down

The Retail sector may also see an increase in attempts to hack their systems



General Liability

The sector continued to see an increase in claims

Disclaimer notices - these have become less effective over the past few years. This is due to the fact that the

majority of disclaimer agreements have the effect of restricting a consumer’s right to seek judicial recourse or

are inconsistent with the provisions of the Consumer Protection Act.

A carefully worded disclaimer may still serve as a buffer against liability claims

SASRIA / Political Unrest

Strike action continued in the mining sector in 2014 which saw some mines not operating for 6 months

SASRIA Claims information:-

Claims frequency decreased in 2014 to 18.3, compared to 52.6% in 2013

Service delivery protests are becoming more violent and moving away from townships to metropolitan

areas



Motor

Cost of repairs to vehicles continue to increase.

Insurers are looking to “price comparison websites” (PCW) to check on parts being used in repairs to try and

manage the cost of vehicle repairs

Hail, 5cm in size, was experienced in Gauteng in March 2014, causing unprecedented vehicle write offs


Aon – Exclusive Passenger Transport Scheme


Unique Benefits (Highlights of the New Enhanced benefits introduces in Oct 2014)

Personal Accident

Driver, Spouse and Immediate Family

Driver: Death – R100,000/Spouse and Immediate family – R10,000

Driver: Permanent Disability – R100,000 (Driver)

Temporary Total Disability:

100% of weekly earnings up to 52 weeks (Driver) – (One week deductible)

Bereavement (Additional Death Benefit):

R6,000 (All)

HIV – Assist including ARV’s – Actual Costs – Limit R100,000

Hire of Temporary Driver – Up to max salary of R4,000 per week

Passengers

Death: R35,000 (Children limited to Max amount payable in terms of legislation).

Permanent Dis.: R35,000 (Percentage as specified)

Temp. Total Dis.: 75% of weekly earnings up to 52 weeks (2 week deductible)

Medical Expenses: R50,000 (R500 excess).

Basis of cover: 24 hours, 7 days a week

* Should payment in event of death of a passenger not be made within 48 hours – Insurers will pay an additional 10%.


Unique Benefits

Crisis Accident and Disaster Management Plan

Medical Emergency Evacuation Services, following an accident to a bus.

Evacuation using rapid response vehicles, ambulances and helicopters

all equipped with advanced Life Support equipment. – Limit R250,000 per event

Guaranteed Hospital admission up to R10,000 for passengers.

Legal Assistance helpline

Bereavement Lines

Disaster management – Emergency Call centre will co ordinate and

manage the logistics of the disaster.

Roadside Assistant:

Flat tyres – R1,250;

Battery start/Replace – R1,250;

Keys locked in vehicle – R1,250,

per incident.


Unique Benefits

RoadCover Assistance (R.A.F)

With Isithuthi RoadCover benefit, your claim with the RAF is managed on your behalf from start to finish, at

no cost to you.

The benefit provides for a dedicated legal practitioner to formulate your RAF claim, manage the entire claim

process from start to finish and effectively halve the turnaround time.

You receive 100% of the RAF pay out under RoadCover, as there are no charges or additional fees.


Unique Benefits

Additional Extensions Applicable to Motor Fleet

Mechanical breakdown Towing - Limit: R20,000

Wreckage Removal - Limit: R35,000

Fire Extinguishing Charges - Limit: R30,000

Loss of Keys - Limit: R20,000

Emergency Repairs - Limit: R15,000

Cross Border Accident Towing - Limit: R50,000

Car Hire - Limit: R200 per day/30 days – Private cars automatic


Fact Sheet

Aon has been the Preferred Supplier of Insurance to SABOA and its members for more than 16 years

The existing underwriter (SHA) on behalf of Santam has underwritten the scheme since 2002.

50% of SABOA members are insured with Aon

1 in every 5 buses in the formal bus Public Transport are insured with Aon

Since 2002 almost R250 million has been paid out in claims

We insure your vehicle for Retail or Agreed value (subjected to Independent Valuators report)

In the past 5 years there has only been one general premium increase.

Access to a 24/7/365 Claims call centre – You can also track your claims in real time on a web-based system.

Repairs are authorised within 24/48 hours (Provided all documentation is received)

Highest minimum level of passenger/third party liability limit is R100 million/R50 million respectively


Final Advice

Obtaining a New Quote:-

Make sure you are dealing with a Professional Broker who is FAIS Accredited and Licensed to give advice and

guidance

Ensure that your broker does a thorough Needs Analysis to ensure that cover is tailored to your specific

requirements.

Conclusion

Our commitment as Aon to its clients is to make sure you always have the right cover for your specific needs,

at the right price, backed with years of expertise and a deep understanding of your industry.


THANK YOU


Contact

Aon South Africa (Pty) Ltd

The Place, 1 Sandton Drive, Sandhurst, 2196

P O Box 1874, Parklands, 2121

Tel: +27 11 944 7000

Fax: +27 11 944 8010

www.aon.co.za

Aon South Africa (Pty) Ltd is an Authorised Financial Services Provider. FSP #20555.

http://www.aon.co.za/

Aon South Africa, Commercial Products Solutions - Aon A du Sart 040315.pdf · Aon Risk Solutions 3...

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