STAY IN LINE WITH YOUR RISK MANAGEMENT PHILOSOPHY AND RISK RETENTION CAPABILITY

That the cost of risk needs to be controlled is a given. It is equally critical, however, to control the cost of risk cover. The CUAL PARTNER policy was developed in response to a major client need to contain these costs.

CUAL recognises that the ‘risk paradigm’ must change. Through innovative product development, CUAL has responded by introducing the Partner product. This product helps companies contain insurance costs, while ensuring maximum protection for catastrophic losses.

Ever responsive to the needs of its customers, CUAL now offers CUAL PARTNER – a truly flexible approach to risk protection.

CUAL and its local and international partners are experts at creating tailored solutions to meet clients’ risk financing needs.

Traditionally, the funds of the many pay for the losses of the few, but through risk financing an insured is able to benefit from efficient risk management. This optimises insurance costs.

CUAL PARTNER provides two alternatives:
  • A stand-alone self-insurance product.

    With this option, the client pays money into a fund which is invested by CUAL/Santam. Any claims arising are paid back to the client from the fund, in terms of the cover and conditions of the policy.
     
  • A mechanism used to cover the uninsured exposures in tandem with a ‘conventional’
    insurance policy.

    With this option, the client pays money into a fund to cover uninsured exposures such as limits of insurability, franchise losses, annual aggregate first losses or the client’s portion of the participation percentage.

    The intention is to build a sizeable fund over a short period, so that an insured client – with efficient risk management procedures and low losses – will in time reach a potential self-insured situation.

CUAL PARTNER assists companies to contain costs while simultaneously providing maximum protection for catastrophic losses. As a self-insurance product, it complements and strengthens CUAL’s tried and tested PROTECTOR policy.


THE BENEFITS OF PURCHASING
A CUAL PARTNER POLICY

  • creates, and allows your company to increase its risk-bearing capacity;
  • allows you to cover any shortfall and uninsured credit risk, within a structured programme;
  • facilitates the retention of selected risks that are not cost effective to cover through
    conventional insurance;
  • provides maximum benefit in terms of tax-planning and balance sheet protection;
  • adds an optional ‘savings’ component to your local credit insurance policy, which is then used to fund the Annual Aggregate First Loss;
  • is an incentive for risk control. Premiums paid into the self-insurance protection plan are not ‘paid away’, and are allowed to accumulate to your benefit;
  • provides innovative risk management and financial solutions by linking conventional credit insurance to alternative risk transfer methods;
  • offers maximum protection in tough times and maximum savings in insurance costs in good times.

Through a partnership with CUAL, you can maximise savings on conventional insurance costs, while ensuring maximum protection in tough times.

CUAL PARTNER adds a valuable dimension to domestic credit insurance.

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