Did You Know

Why Insurance is vital for the Building Industry

Did you know that 3% of construction workers sustain a work-related injury each year? – and these stats are just the ones that actually get reported?

In 2015/2016 a total of 43 workers were fatally injured in the construction sector!

You shouldn’t cut corners with any type of insurance but when it comes down to construction insurance, you really can’t afford to make mistakes.

When you have been awarded a contract, before you start on site you need ask yourself the following questions:

• What if something happens?
• Do you have enough money to cover for any loss or injury?
• Will you be able to sustain your business if you have a huge outlay?

Being in the construction industry is a very risky business, it is unpredictable with regards to weather, machinery and the foundation you are working on.

Size doesn’t matter – Some people may think that only large national firms need construction insurance, but even if you are a small company, accidents do occur. Being careless with a blow torch could result in an accidental fire that causes hundreds of thousands of rands damage and you need to be covered.
Larger companies would be able to possibly absorb the loss of income but small companies more than likely need assistance.

If you do not have cover, some customers may not select you to do the work, as it is too much of a risk for them to use your company. They would rather use a company that is covered by insurance. So by being covered may give you more opportunities.

So in closing, if you are not covered for insurance, big or small, get covered!

 

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Sources:

Tradesman Saver

 

 

Is Insurance really necessary?

The simple and straight forward answer is – Yes.
Some of you may ask why? The answer to this is also pretty simple – Life is unpredictable.

Below are a few examples of some of the basic, if not most important insurance policies you may need in your personal capacity and for construction/business.

Personal Insurance
The 5 basic insurance policies that everyone should have, although not everyone can afford all of the below, it is a good idea to have them, look at it this way – the cost of insurance is relatively cheap well at least far less than the cost of not having it if something goes wrong.

• Health Insurance
• Car Insurance
• Homeowner’s or Renter’s Insurance
• Life Insurance
• Disability Insurance (Long and short term)

Construction Insurance

Uwe Putlitz, CEO of the Joint Building Contracts Committee, says “generally five types of insurable risks generally apply to all construction projects:

Contract Works Insurance (CWI): This deals with the whole works during the construction period including plant and materials, work by specialist contractors, and additional professional fees where damage to the works occurs. Such a policy must be extended to include possible damage to existing buildings during alterations and additions and/or to include adjoining structures;
Supplementary Insurance (SI): Deals with expense or loss caused by events outside the normal control of the parties, including civil commotion, riots, strike action etc. not included in the CWI policy. SI can be obtained from the South African Special Risks Insurance Association (SASRIA) in South Africa, or the Namibian Special Risks Insurance Association (NASRIA) in Namibia. Supplementary to the CWI, SI is not available to the public and needs to be arranged by a broker;
Public Liability Insurance (PLI): Provides indemnity in the event of a death or injury to any person and or accidental loss or physical damage to tangible property;
Removal of Lateral Support Insurance (RLSI): This applies where the execution of the works may cause weakening or damage or interference with the support of land or property on site or adjacent to the site and the consequences thereof; and
Other Insurances (OI): This applies to cover risks in transit of goods imported from overseas specifically for installation in a project.”

The concept of insurance is straightforward but the actual selection of appropriate policies for specific contracts is not.
“That is why it is important to deal only with a broker experienced in construction industry insurance matters: this type of cover is not a do-it-yourself activity and, if dealt with improperly, all claims will be rejected. The insurance must be carefully considered to include and list all identified risks including the location of the works, the type of structure, the method of construction and where existing structures or other site conditions may be at risk,” he explains.

Business Insurance:

From the day anyone starts a business, you are exposed to risks. Before the first employee is hired, a business is at risk. This is why it is so important to have the right insurance policies. A lawsuit or catastrophic event could cripple a small business before it has a chance to get off the ground.
Fortunately, businesses have access to a wide range of insurance types to protect them against these possibilities. Here are some insurance types that a business should have in place as soon as possible.

Professional liability insurance:
Professional liability insurance, also known as errors and omissions (E&O) insurance, covers a business against negligence claims due to harm that results from mistakes or failure to perform.

Property insurance:
Whether a business owns or leases its space, property insurance is a must.

Workers’ compensation insurance:
Once the first employee has been hired, workers’ compensation insurance should be added to a business’s insurance policy.

Home-based businesses:
Many professionals begin their small businesses in their own homes. Unfortunately, homeowner’s policies don’t cover home-based businesses, ask your insurer for additional insurance to cover your equipment and inventory in the event of a problem.

Product liability insurance:
If your business manufactures products for sale on the general market, product liability insurance is a must.

Vehicle insurance:
If company vehicles will be used, those vehicles should be fully insured to protect businesses against liability if an accident should occur.

Business interruption insurance:
If a disaster or catastrophic event does occur, a business’s operations will likely be interrupted.

So to end, you can see how necessary having insurance actually is.
You may not want to pay the monthly instalments but you will grateful you did if something ever happens (let’s hope that nothing that requires a claim happens).

Please ensure that you have enough insurance policies in place to cover any event that could affect the running of your business or your life and make sure you or anyone affected is covered.

For Insurance cover or enquiries please contact:
Brad Hutton
brad@surelinkwealth.co.za

 

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Sources:
Mint
Entrepeneur

10 Things to Remember When Buying Insurance

There are a lot of insurers out there with different policies, and this can make it overwhelming when looking for a policy that suits you and your needs.

1. Research a Reputable Insurance Company:

Protecting you and your family’s assets and financial well-being is something that you depend on your insurance company to do without question. However, you can’t trust your family’s future to just any company without checking it out first. There are hundreds of insurance providers in the market. It’s important to choose one with a proven track records, from reputation in the market (awards and reviews) to customer service to claims history.

Therefore, gather as much information as possible on both good and bad experiences from others: Speak to friends, browse the web, read forums, you would be surprised at how much information is available if you just ask.

2. Shop and Compare:

Thankfully, insurance comparison shopping is not as difficult a task as it once was, as the internet today can be a valuable source of helpful information. You don’t need to physically go from agent to agent or even online from company to company to find the best value on an insurance policy. By using insurance comparison websites, you can obtain a few quote comparisons in order to compare and help you to make a more informed decision. There are many great insurance comparison shopping websites out there for example www.hippo.co.za and others.

3. Discount Advantages:

Insurance needs can be an expensive undertaking especially in today’s economic climate. Therefore, take advantage of possible common discounts that can help you find the best value on an insurance policy. These could include multi-policy discounts, safe driving discounts, home ownership discounts, discounts for safety devices installed, and many more. There may even be hidden discounts not readily seen on a website or that your agent tells you about, however it is worth enquiring about to save on costs and achieve maximum benefit.

4. Cheaper Is Not Always Better:

Cheaper insurance prices can unfortunately also mean lower customer service and claims, not to mention a lower degree of coverage and payout. Always bear in mind that there is sometimes truth in the saying that you often get what you pay for.

5. Ask the Agent for a Best Offer:

If you are using an insurance agent instead of buying directly from an insurance company, he may be giving you what he thinks is a good deal on an insurance policy. However, it doesn’t hurt to ask if you can get a better price or perhaps a more comprehensive coverage package plan. Independent insurance agents often represent many different companies and would have more quotes for comparison than a “captive agent.” A captive agent is one who only represents one company and will only offer you the policy options from the company he represents.

Once given a final price, if that isn’t good enough, tell the agent so. Your agent may be able to go back to the insurance company and ask if a lower rate is available.

6. Your Agent does not make the Final Decision:

Insurance agents, for the most part, give good advice about the policy and coverage options you need. After all, most insurance agents receive insurance licensing and training that makes them qualified to give sound advice. However, there are abundant resources available to you if you feel you need to research your options further. It is best to make the best choice for coverage options now than to be sorry later when you have a claim and are underinsured and do not have the right coverage. Then it is too late to get the right policy.

7. Upgrade Policy at a Later Stage:

There may be occasions when financial restraints prevent you from getting the coverage options you want and or need. Enquire as to whether, once you are more financially steady, if you can upgrade your policy to include a more comprehensive coverage package, just in case this is a viable option for you at a later stage.

8. Tell the Truth:

Did you realize that an insurance company is not legally obligated to honour your policy and pay claims if you knowingly misrepresented the truth on your application? For example, such as lying about how many speeding tickets or accidents you’ve had in the past. Getting a cheaper premium is not worth the risk of the company cancelling your policy or refusing the cover because you misrepresented the truth.

9. Coverage Is Not Always Automatic:

If you buy a new vehicle or add additional structures to your property, they may be automatically covered for a time. However, there can also be a time limit to this coverage. Normally, you have a specific time frame, perhaps 30-days (this could be more or less depending on your company) to contact the insurance company and let them know of your purchase or addition. The same goes with trading in a vehicle for another one. The coverage will transfer to your new vehicle, but only temporarily, unless you notify your insurance company, and sometimes not at all. Ensure you have investigated and understand all possibilities to avoid any unexpected surprises in the ‘fine print’ later down the line.

10. Re-evaluate Your Coverage:

Life changes come to all. When you have a significant life change, such as a major purchase, a move, getting married, getting divorced, having children, etc.; it is likely that this will affect your insurance coverage and you may need to update your coverage. Even if you’ve had no major life events, it is still a good idea to do an annual policy check-up with your insurance agent and make any necessary changes.

Finding the best coverage to protect you and your family from whatever life may throw at you doesn’t have to be a difficult or confusing process. Use all the tools and resources you can find to make finding the right coverage a smoother process.

A little homework and research will go a long way to giving you and your family the peace and security you deserve.

 

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Source:
The Balance

 

 

10 Steps to Customer Service

I think it would be safe to say that great customer service is the key to any successful business.

When was the last time you received a complaint about customer service? Do you think there is a chance that your customer service might not be up to par?
Looking at the next 10 steps to customer service might just be what your company needs to go from average customer service to impeccable customer service.

1. Communication is key!! Now that is a statement that I can get behind. How will you or your staff be able to give your customer impeccable customer service if you cannot communicate with them properly? Communication has a lot to do with how you well you listen to your customer. It is quite simple actually. When your customer has a complaint listen to them and decide from there what your best way forward will be. Nothing irritates a customer more than an employee that does not feel the need to listen to them. By listening to your customer you will be able to establish a much clearer line of communication.

2. Know what your customer wants

This is quite simple. If you truly believe in customer service you’ll know that if you listen to the finer details of what your customer is saying, you can figure out what they actually want and need before they have to say it out loud.
Now that will definitely impress anybody and is sure to get you some recommendations and compliments.

3. Make them feel at home Don’t you just love it when you walk into a store and you instantly feel at home? Why not do the same for your customers? Instead of teaching your staff a text book greeting or response to customers teach them that each customer is different. Get to know your customer. Make them feel comfortable by going the extra mile even if it is with something as simple as helping them carry a bag or asking if they need any extra assistance.

4. Respect

Treating your customer with respect can be the difference between getting return business from them and never seeing them again.
We all want to feel respected when visiting other establishments and even in our own. It is imperative to remember that you cannot expect your customers to respect you, your employees or your business if you cannot show then respect first.

5. Happy & Helpful Whether you’re greeting a customer or assisting with a problem, always try your best to be as helpful and friendly as possible. When a customer is faced by an employee who looks like they would rather be anywhere but there it makes them feel that they would also rather not be there. So remember always smile and go the extra mile wherever and whenever possible.

6. Never delay your response

If your customer approaches you with a problem do your best to resolve it as quickly as you can. Get all the information you can and might need to resolve the problem as best you can.

The quicker the problem is resolved the better the outcome for yourself and the customer.

7. Keep to your word

There is nothing more disappointing than visiting your favourite outlet to discover that the service is no longer as great as it used to be.
It is imperative to deliver the same service at all times, never over promise and under deliver

8. Be more skilled

If you’re going to be selling a product or service, make sure you know all there is to know about it.
If you have all the knowledge there is on that specific product or service you will be able to answer all your clients’ questions and also help them make a better informed decision.

9. Everyone is equal Treating all your customers the same sends a great message. People like visiting establishments where they know that they will be treated in the same warm and friendly manner as the previous person.

10. You can make a mistake

You are human just like any other person you will make mistakes.
The way you handle those mistakes is what is important. Instead of ignoring the problem or saying that it was not you, try admitting to it. You customer will be more at ease with you once you admitted your mistake and apologized for it.

 

 

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Sources
AQ-Services
The Next Web

Our Mining Heritage

The beautiful month of September not only marks the beginning of Spring, it is also the month devoted to Heritage.

A country’s natural heritage is its natural resources and beautiful environment, because they are considered to be so unique that they are internationally respected and protected.

South African heritage, might be anything from famous stretches of coastline in Kwazulu-Natal, to shweshwe fabric, to Bunny Chow or Potjie. But for now lets take a look at our mining heritage and history.

Mining in South Africa was once the main driving force behind the history and development of Africa’s most advanced and richest economy.

Did you know:

South Africa is the world’s largest producer of Chrome, Manganese, Platinum, Vanadium and Vermiculite.

Platinum and Palladium:
South Africa produces more platinum and similar metals than any other country.
In 2005, 78% of the world’s platinum was produced in South Africa, along with 39% of the world’s Palladium.
Over 163,000 kilograms of platinum was produced in 2010, generating export revenues of $3.82 billion USD
Currently Russia and South Africa are the biggest palladium producers in the world.

• South Africa is the second largest producer of Ilmenite, Palladium, Rutile and Zirconium.
• South Africa is also a huge producer of Iron ore: In 201 2 it overtook India to become the world’s third-biggest iron ore supplier to China.
• South Africa has the second-largest reserves of uranium in the world.
  (NUFCOR) (The Nuclear Fuels Corporation of South Africa) started processing Uranium as a by-product of gold mining in 1967.
  Most of the uranium produced is concentrated in the golf fields of the Witwatersrand area.

 

• South Africa’s production of chromium accounted for 100% of the world’s total production in 2005, and consisted of 7,490,000 metric tons of material.

Chromium is used in stainless steel and for a variety of industrial applications.

• South Africa is the world’s third largest coal exporter.
  Much of the country’s coal is used for power production as 77% of South Africa’s energy needs are provided by coal.

Gold
Gold was discovered in the area known as Witwatersrand, triggering what would become the Witwatersrand Gold Rush of 1886.
South Africa accounted a percentage of 15% of the world’s gold production in 2002 and 12% in 2005, though South Africa has produced as much as 30% of world output as recently as 1993.
Despite declining production, South Africa’s gold exports were valued at $3.8 billion USD.

• It was estimated by US Geological Survey in that as of 2002, South Africa held about 50% of the world’s gold resources, and 38% of reserves.

 

“Diamonds are a girls best friend”

Did you know:
Diamonds are valued by weight, colour, clarity and various other factors.
The first diamond was discovered on the banks of the Orange River in 1867 by Erasmus Jacobs.

• Of “The 10 Largest Diamonds Ever Discovered” – Four are from South Africa!

The Jonker: 726 carats
This giant stone, was found by a settler called Johannes Jacobus Jonker in 1934.
It’s believed the rough diamond was cut into 13 smaller stones, with the largest diamond, the Jonker I, still weighing in at an incredible 142.9 carats.

The Golden Jubilee: 755 carats
The golden Jubilee was discovered in 1985, it was eventually cut and faceted diamond that weighed an enormous 545.67 carats, making it the largest finished diamond in the world.
It is currently owned by the Royal Family of Thailand.

Excelsior Diamond: 995.20 carats
Was Found in 1893 in Jagersfontein Mine, this huge rock was cut into many smaller pieces. The largest gemstone cut from this famous diamond was 69.68 carats.

Cullinan Diamond: 3106.75 carats
The Cullinan, was discovered by a mining superintendent in old Transvaal in 1905.
Also known as the Star of Africa, this is arguably the most famous diamond in the world.
Weighing more than three times the weight of the Excelsior Diamond, it was named after the owner of the mine, Sir Thomas Cullinan.
It was given as a gift to the King of the United Kingdom (Edward VII). Nine large stones and 96 stones were taken from the rough diamond, including the famous Star of Africa (Cullinan I) which is 530.2 carats and is now part of the Crown Jewels, inserted into the Sceptre with the Cross.
The value of the Cullinan diamond has been estimated at $2 billion.

 

We live in one of the most beautiful and most resourceful countries in the world.

As former President Nelson Mandela stated:
“When our first democratically-elected government decided to make Heritage Day one of our national days, we did so because we knew that our rich and varied cultural heritage has a profound power to help build our new nation.”

 

Lets choose to acknowledge, respect, and celebrate our culture and the diversity of beliefs and traditions to rather use this power to promote peace and to build a stronger nation. 

Sources:
Wikipedia
Mining Review

 

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Precious Gems and Stones in South Africa

Not the usual blog you would find in our industry. Just a tad different with interesting thoughts and insights you might not have ever thought about before.

All the bright images of these “bling’s” comes to mind from beauty and great riches for so many centuries.
Come to think about it gemstones have long fascinated the human population. Not only to be used as investments by the rich, who used to show off the red rubies, shiny diamonds or the enormous emeralds to display wealth, status and power owned only by the royalty. People have treasured gems for many reasons throughout history.

Believe it not, the gems and stones inspired myths, curses and has been used as medicine before. Religious symbols, amulets and good-luck charms are one of the most known reasons today. Ancient people believed that certain gems would protect them from misfortune, illness and unhappiness. All the gemstones we so greatly treasure and admire come from various depths and locations in the earth’s crust.

I can write forever and a day about all the different stones and gems and all the superstition symbols of hope, luck, and many more. But can’t help myself to name the most obvious.
The number twelve is common in gem lore. Twelve gems that represented the twelve tribes of Israel were set in the breastplate of Aaron, the first high priest of the Hebrews. Among Christians, symbolic gems represented the twelve apostles.

The Twelve Tribes The Twelve Apostles
1. Levi, garnet Peter, (Jasper)
2. Zebulon, diamond Andrew, (Sapphire)
3. Gad, amethyst James, (Chalcedony)
4. Benjamin, jasper John, (Emerald)
5. Simeon, chrysolite Philip, (Sardonyx)
6. Issachar, sapphire Bartholomew, (Sard)
7. Naphtali, agate Matthew, (Chrysolite)
8. Joseph, onyx Thomas, (Beryl)
9. Reuben, sard James the Less, (Topaz)
10. Judah, emerald Judy, (Chrysolprase)
11. Dan, topaz Simon, (Hyacinth)
12. Asher, beryl Judas, (Amethyst)

In addition, gems have long been associated with the signs of the zodiac and with the sun, moon, and planets.

Signs of the Zodiac
Aries the ram, (Bloodstone)
Taurus the bull, (Sapphire)
Gemini the twins, (Agate)
Cancer the crab, (Emerald)
Leo the lion, (Onyx)
Virgo the virgin, (Carnelian)
Libra the scales, (Chrysolite)
Scorpio the scorpion, (Aquamarine)
Sagittarius the archer, (Topaz)
Capricorn the goat, (Ruby)
Aquarius the water bearer, (Garnet)
Pisces the fishes, (Amethyst)

Did you know that the most expensive gemstone ever sold was the Pink Star Diamond that was sold for $83 million? Also known as the ‘Fancy Vivid Pink’ diamond, this stunning gemstone was mined in 1999 in South Africa, with a weight of 59.6 carats. Because of the selling price of $83 million, this diamond became the most expensive gem ever sold.

Did you know that Queen Elizabeth crown that she has worn for 63 years also has a diamond in from South Africa? Weighing a breath-taking 3 106 carats, this diamond was discovered in 1905 by Pretoria’s Premier Mine inspector, Thomas Wells, who initially mistook it as a piece of glass placed by the miners to prank him.
When its identity was revealed, the diamond was named The Cullinan after the owner of the mine and purchased by the Transvaal government as a gift for King Edward VII. Then plans were made to have the precious diamond shipped to England on a boat, always protected by top security. However, it was later revealed to be an elaborate ruse created to fool any hopeful thieves – the Cullinan was in fact sent to England in the mail, with no security whatsoever.
Did you know in 1867 South Africa’s first diamond, later called the Eureka, was discovered on the banks of the Orange River near Hopetown by 15-year-old Erasmus Jacobs. He was playing around on his father’s Northern Cape farm at the time and a pretty transparent rock caught his eye. It was a neighbour, Schalk van Niekerk, who identified this ‘rock’ as a diamond.

So where do gems come from?
Most gemstones are minerals or rocks and occur in favoured sites in the earth’s crust or in the gravels that result from the weathering of rocks. Of the beautifully crystallized minerals that seem useful for gems, only a very few meet the standards and are sufficiently beautiful, durable, rare and large enough to be cut into saleable stones. As a class of natural objects gemstones are exceedingly rare.

About one hundred chemical elements make up the earth. Oxygen and silicon are by far the most plentiful elements in the earth’s crust, and they occur in most minerals. In gemstones, they are major ingredients in amethyst, aquamarine, emerald, garnet, peridot, topaz, tourmaline and zircon. Oxygen is a major ingredient in ruby, sapphire, chrysoberyl and spinel.

As a mineral form, certain atoms attract each other and arrange themselves in an orderly geometric pattern called the crystal structure. All mineral crystals have their atoms arranged in some combination of fourteen basic patterns.

Minerals usually occur as crystalline grains in rocks. Because the grains compete with neighbouring ones for very limited space, there usually isn’t room for complete crystal shapes to form. Time is another important factor in crystal growth. When molten rock cools quickly, natural glass or tiny crystals form. Slower cooling time gives larger crystals time to grow. Large crystals may form whenever conditions are right. They may grow slowly into open spaces in cracks or hollows in the rocks.

Occasionally, near perfect crystals are found. A mineral’s internal atomic structure determines its distinctive exterior crystal shape. Crystal shape often helps identify and distinguish gem minerals from one another.

Today, many gems can be created in laboratories. Synthetic gems have the same chemical composition and physical properties as naturally formed gemstones. A simulated gem may look like a natural gem, but there the similarity ends.
As with other gems, most precious gemstones are minerals. This mineral, however, is a chemical element or compound that forms in nature and possess a unique internal atomic structure, crystal. Minerals usually form because of inorganic processes that occur in rocks.

Furthermore, since mineral deposits can be found all over the world, so can the various gemstones.

In fact, many gems and stones come from South Africa and this is the reason why the industry remains sturdy.
Of some interest is the mining techniques used to procure such brilliant gems.

The following is a list of South Africa gems and minerals listed in our database:

• Chatoyant Quartz • Enstatite • Rhodonite • Grossular Garnet • Rhodochrosite • Petalite • Platinum • Plasma Chalcedony • Diamond • Chrysoprase • Microcline • Uvarovite • Gold • Zoisite • Chrysoprase • Diopside

• Chrysoberyl • Pyrope • Phosphophyllite • Labradorite • Dravite • Taaffeite • Rutile • Tugtupite • Lapis Lazuli • Turquoise • Sillimanite • Oligoclase • Spodumene • Gypsum • Tektites • Shell

 

If you are interested in buying gemstones in South Africa you need to look out for the following:

How to buy gemstones in South Africa
1. Look at the background of the seller!
2. Look at the credentials of the seller!
3. Study the gemstone.
4. Is the gemstone from South Africa or not?
5. Check the integrity of the seller.

 

To view more articles, please visit the Leads 2 Business Blog.
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References:
Cape Town Diamond Museum
Rock Hounds
Touch Gemstones
Gemrock Auctions
Cape Town Magazine
Interflora
Gem5
Diamond Portfolio
SAMAA