2021 is here and while we are still facing many challenges, the new year has not come empty handed. Every challenge presents an opportunity and with that in mind, Hollard has just launched their “Excess of Loss” policy.
While this is an established product internationally it is a first for us in SA. The product will allow a policy holder to buy top-up cover on a specific buyer from an alternative insurer. With insurance limits under pressure this should open additional capacity for clients.
It should be noted that this will not be an alternate to obtain cover on “bad risks” and Hollard will require sufficient information for their underwriting purposes.
If you would like to know more about this product, please contact your Cinque advisor for more information. We will explore this option in conjunction with any other possible solutions, including reallocation of cover, single debtor insurance and payment guarantees.
We are hopeful that we will continue to see innovation from the credit insurance industry in 2021. As always, we remain at your service to navigate the challenges and explore the opportunities.