Kayser Baird insures Action Coach Kloof through Hollard. Darryn and his team have a typical office setup with some electronic equipment, office contents and business vehicles. Their lease agreement states that they are responsible for fixtures and fittings so their policy includes cover for this in the event of a water leak or fire. Darryn does not require business interruption insurance because in the event of a fire he would be able to continue his business without interruption to his revenue, although he would incur some expenses in temporarily relocating his office.

In addition to the basic cover above Darryn dispenses professional advice to his clients and Kayser Baird has provided advice and expertise on his potential risk exposure here. The type of insurance which covers this exposure is Professional Indemnity insurance.

As a business owner, Darryn could also be sued in his personal capacity for an error or omission which causes somebody to suffer a financial loss – to protect his personal assets Darryn could take Directors Liability insurance which would pay out in the event of this kind of loss, as well as pay his defense costs.

At Kayser Baird we see our role as broker to provide advice on all of our clients risk exposures, whether they take insurance products out for them or not. If a client can eliminate a risk or reduce it to an acceptable level, then they may not need insurance for that particular risk.