FAQ

What is the Financial services board (FSB)?

The FSB is an independent “watchdog” which regulates Financial Service providers throughout South Africa.

As a registered insurance brokerage, Shackleton Risk Management (FSB number 33621) is regulated by the Financial Services Board. This may be validated by contacting the FSB on 0800 110 443 or by visiting their website at www.fsb.co.za

Who are our Underwriters?

Our products are underwritten by from Safire Insurance Company. Safire Insurance Company, are regulated by the Financial Services Board and are  licensed in terms of the Short Term Insurance Act.

Who pays us?

Shackleton Risk Management is paid by the insurance company on whose behalf they place the cover.

To avoid any conflicts of interest and in the interests of transparency, we undertake to present to you quotations and policies that reflect the premiums and commissions payable.

Who pays the premium for a Court Bond?

Although it is normally the Liquidator, Trustee, Executor or Curator who applies for this insurance, the premium is paid by the estate in question.  It is an annual premium.

How do I lodge a claim?

In the event that you have a claim or a potential claim, please contact us immediately. Our contact details are set out below.

  • Please send your written submissions to Shackleton Risk Management (Pty) Ltd, PO Box 393, Strathavon, 2031.
  • If you are in doubt about what to do then please contact us on 011-784 5373 or email Gareth Myer at gareth@srisk.co.za

Please note that there are time limits in which claims have to be lodged, so it is in your interests to notify us as soon as possible after discovering the event. 

What peace of mind do I have that my claim can be paid?

What peace of mind do I have that my claim can be paid?

  • Safire Insurance Company, the underwriter of Shackleton’s products, is regulated by the Financial Services Board and is licensed in terms of the Short Term Insurance Act.
  • It is required, like all major insurers, to hold sufficient capital and hold reserves to pay its claims and is strictly monitored by the FSB in this regard.
  • In addition, Safire Insurance Company enters into re-insurance contracts with major international Reinsurance companies like Munich Re, Swiss Re, Lloyds of London and so on, to provide support to Safire in the case of major claims.
  • Safire Insurance Company is a public company and has been in business since 1987
Will the insurance company sue me if it pays a claim out under my policy?
  • Professional Indemnity, Fidelity Guarantee and Misappropriation of Trust Funds are all “indemnity” insurance products.  This means that they indemnify you against loss, and the insurance company will not sue you.  They will however take steps to recover the loss from the wrongdoer if that person is not you.
  • Court Bonds, as explained above, are not indemnity policies in favour of the Liquidator, Trustee, Executor or Curator.  This means that if the insurance company is required to pay a claim under a Court Bond it is entitled to recover that amount from the Liquidator, Trustee, Executor or Curator who was responsible for the loss.
What to do if you have a complaint?

At Shackleton Risk Management, each of our customers is important to us, and we believe you have the right to fair, swift and courteous service at all times.
Once we are in receipt of your complaint, we will deal with it promptly, effectively and in a positive manner. Please download our comprehensive Complaints Policy for full details as to how to lay a complaint.