Global Public Articles

South Africa has always been known as a country with plenty of natural resources. This is one reason many businesses have started setting up shop here. However when it comes to any business establishment, the need for insurance cannot be underestimated. This growing influx of companies setting up business here has suddenly led to the rise in several business insurance companies.

Types of business insurance

There are several different kinds of business insurance right from risk management aspects to benefit consulting to administrators as well as commercial insurance. Most business insurance companies will offer all of these services in a comprehensive package. You as an organization can choose from one or more of these services. As the owner of a business enterprise you want to leverage a comprehensive set of services both for the company as well as for your employees. This is why the insurance plans provided by all business insurance companies in South Africa will comprise features for the organization as well as the employee.

Kinds of coverage to be expected

Most of the business insurance companies especially the ones in South Africa will typically provide you coverage for:

- Losses suffered due to some damages or calamities
- Coverage for both you and employees
- Coverage of all applicable business assets
- In the case of death, the business insurance companies will also provide coverage for legal proceedings against the business as well as injury to staff and personnel
- Interruption to regular business proceedings
- Coverage on works of contractors, plant or factory etc.
- Motor coverage
- Fidelity guarantee
- Personal accidents
- Risk financing coverage
- Machinery breakdown
- Coverage on all electronic devices and equipment
- Coverage on accounts receivable

The extent of coverage you would want to avail from these business insurance companies will largely depend on the individual goals and scope of your business. For example if your company is located in an area which is prone to more natural calamities then getting coverage for loss of goods and property is of critical importance.

Who can benefit?

Usually the kind of services provided by most business insurance companies can be extremely beneficial for manufacturing companies as loss or damage to machinery can cost millions. Having access to good quality business insurance can at least help the company salvage machinery and other damages in time.

Even in the case of property developers such insurance can work out to be very useful. If you are the owner of a law firm, financial institution or even an accounting firm then such insurance coverages are extremely useful. In cases where people are business owners of commercial properties like office premises as well shopping complexes, the services of such business insurance companies can be beneficial. Even if you are the owner of a factory then damage to property, machinery, factory labourers etc. can cause severe damage to your business overall. Hence by availing business insurance any of these enterprises and organizations can prevent the losses incurred due to damages.

Get more information about business insurance South Africa from www.integrisure.co.za

The credit crunch has hit everyone, and every person has felt the effect of the crunch. The last thing you would like to discuss is your savings, as you have probably been gradually dipping into your investments to get through this tough time. But do not totally feel down in the dumps, because there are a few simple aspects, which we will now take a look at that will help you through this tough time.

One of the more pricey aspects these days is your regular weekly shop; in fact you may be spending almost double to what you were spending two years ago. Therefore you should now make a shopping list, and stick to it more than ever before. Basically just shop to get your essentials such as bread, milk and dinner for the week, you should try to eliminate the luxuries such as cakes and chocolates. If you cannot resist clothes shopping then you should consider cheaper retail outlets, where you can get the same sort of designs at a fraction of the cost.

Another major aspect to look at is your mortgage, rent and bills. If you think back, how long have you actually been with your suppliers? If it’s been for a few years then you may want to give them a call. As when you joined you may have had the greatest deal around, but times change and newer, better deals come out, so you may want to re evaluate the offers that you are getting.

During hard times such as the credit crunch, you may want to cut back on impulse buys such as luxurious lunches, as you should have catered for all of this during your weekly shop. Although it may be a hassle for you to get up in the mornings and make lunch, imagine how much you could be potentially saving in a week.

Also bear in mind that if you have credit cards, you could potentially be saving yourself some interest by comparing different interest rates. Do not just go out and squander more money on your credit cards as you could be setting yourself up for a big fall.

Now more than ever you have to learn to budget and control yourself, although you may be suffering by not getting yourself the odd treat here or there. Think about how much you could be saving when you put aside just that little few pence every day, it all adds up in the end.

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You know, the average people on the streets just about all have debts. Sometimes they have accumulated more debts than they can pay. Many times these are debts that are through no fault of their own. There are some who blindly used all the credit cards that were sent to them through the mail that they might not have even ask for. Oh, they knew the interest was high alright, but when people have credit dangled in front of there face and times get hard, they use it. Many of these people did not realize what a whole they were digging for themselves.

Then there are those who went out on a limb and bought a home and sometimes it was one that they could not really afford. When you have offers pouring in that allow you buy a home with no money down and a starting rate that is reasonable, well, who would not be tempted to have their part of the American dream? The only thing about that whole deal was that as interest rates rose, so did their payments. Smooth talking finance firms and mortgage companies wanted so badly for these people to sign on the dotted line, that they could make the adjustable rate mortgage payments not a big deal and you can always refinance later they would tell you and get a fixed rate, anything to get you to sign.

Where are all of those enthusiastic lenders when the bottom has fallen out of the economy and people are losing their jobs? Are they still there cheering you on when the interest rate on your home has climbed to 12% and even higher? People on a budget can not meet these kinds of payments that double from what they were when they bought a home. Whatever the reasons are that so many Americans are losing their, the fact remains they are.

If the government has the money to bail out all of the greedy lenders that made all of these ridiculous, and sometimes unscrupulous loans in the first place, why is there not more talk of helping bail out the American people who do not own a corporation. Would not the corporations get bailed out by the payments that borrowers sent in and caught up their payments if we could get these loans? Why are we loaning money to banks, mortgage, and insurance companies that spent their money and invested stupidly because they had no regulations either. It seems that they were just as irresponsible in their spending as any average American citizen has been, but why do they get the bail out money help and money and we do not?

Rachel Yoshida is a writer of many topics, visit some of her sites, like
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A tip (also called a gratuity) is a payment made to certain service sector workers in addition to the advertised price of the transaction. The amount of a tip is typically calculated as a percentage of the transaction value before applicable taxes. Such payments and their size are a matter of social custom. Tipping varies among cultures and by service industry. Though by definition a tip is never legally required, and its amount is at the discretion of the person being served, in some circumstances failing to give an adequate tip when one is expected may be considered very miserly, a violation of etiquette, or unethical. In some other cultures or situations, giving a tip is not expected and offering one would be considered condescending or demeaning.

In Japan, for example, tipping is considered an insult both to the owner of the establishment and to the server. In some circumstances (such as tipping government workers), tipping is illegal.The word “tip” is often inaccurately claimed to be an acronym for terms such as “to insure prompt service”, “to insure proper service”, “to improve performance”, and “to insure promptness”. However, this etymology contradicts the Oxford English Dictionary[4] and is probably an example of a backronym. Moreover, most of these backronyms incorrectly require the word “insure” instead of the correct “ensure”.Some claim the origin for this term is a concept from Judaism, in that it was a chiyuv (obligation) for a seller to “tip the scales” in favor of the customer. The Torah says, “Nosen lo girumov (Give to him a tip).” For example, if your customer has asked for three pounds of onions, you should measure out the three pounds plus one extra onion, tipping the scale in his favor.

In some jurisdictions, tipped workers qualify for a lower statutory minimum wage from the employer, and therefore may supplement deficient pay with tips. For example, the United States Internal Revenue Service (IRS) requires restaurant employers to ensure that the total tip income reported to them during any pay period is at least eight percent of their total receipts for that period. If the reported total is below eight percent, employers must allocate as income the difference between the actual tip income reported and eight percent of gross receipts. Therefore the IRS is implicitly assuming the average tip to be eight percent.Legally, tips should be reported as income for tax purposes by the recipient.A tronc is an arrangement for the pooling and distribution to employees of tips, gratuities and/or service charges in the hotel and catering trade. The person who distributes monies from the tronc is known as the troncmaster. When a tronc exists in the UK, responsibility for operating PAYE on the distribution may lie with the troncmaster rather than the employer. (The word ‘tronc’ has its origins in the French for collecting box.)

Some establishments pool tips and divide them to include employees who lack customer contact. At some restaurants, agreements among the staff require the servers to tip out members of the support staff (kitchen, bartender, and busser) at the end of their shift;this means that servers pay a certain fixed percentage of their sales (most often a portion less than 15 percent of total sales) to the other staff. Thus when a patron leaves a small tip, it results in the server having to receive less from the tipping pool than other staff.

Tipping is not expected when a fee is explicitly charged for the service. For example, a service charge for all patrons that is automatically added to the tab with no tipping the rule in Brazil. Bribery and corruption are sometimes disguised as tipping. In some places, police officers and other civil servants openly solicit tips, gifts and dubious fees using a variety of local euphemisms. For example, a traffic policeman in Mexico might ask a commuter to buy him a “re fresco” (soft drink), while a Nigerian officer might expect “a little something for the weekend.

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In accounting, a charge off is a term used by creditors when they decide to write off a debt owed to them. They will make this decision after the debt has been in delinquency for some time and they no longer feel that they will be able to collect the debt. The creditors take this loss because they can use it as a credit against their income taxes. Having a debt charged off doesn’t mean that the debt is forgiven or forgotten. You still owe the money and usually the charged off debt is sold to a credit collection agency or a lawyer to continue trying to collect the debt.

In most cases the company will stop charging interest once the debt is charged off, though some will continue charging interest. If the company decides to continue charging interest they must report that as income to the IRS and most companies would rather just put the debt behind them rather than being taxed on income they feel they have very little chance of ever collecting.

Having a charge off on your credit report will typically result in your being denied any additional credit by other lenders. And it can even affect the rates being charged to you on your other outstanding debts, even from lenders that weren’t affected by the charge off.

Once you find that you’re late on a payment you should always make an effort to contact the lender and let them know you are having financial problems. Explain that you are planning on paying the debt in as timely a manner as possible and see if the lender will work with you in some way to help. Many of them will allow you to continue to make smaller payments to avoid having the debt go into charge off. By ignoring the problem it won’t just go away. Letting a debt get to charge off status is one of the worst things you can do in terms of harming your credit score.

If you’ve already gotten charge offs on your credit report don’t worry, it’s still possible to have them removed. Contact the original creditor and ask to work with them to set up a payment plan. Request that the charge off be removed from your credit report once the debt is paid in full. It never hurts to try and work this out with the creditor and the worst they can do at this point is to deny you which leaves you no worse off than before. It is also possible to dispute the charge off with the credit reporting agencies.

If you’re going to dispute the charge off then it’s much easier to have it removed if the debt is already paid off. When you file the dispute, the credit agency has 30 days to verify the status of the account with the creditor. If the account has already been paid off in many cases the creditor will ignore the verification request and the charge off will be removed. Honestly, the only reason they report the charge offs in the first place is to damage your credit rating in the hopes that you’ll then want to pay the debt. If you do still owe money on the debt it’s highly unlikely that the creditor will ignore the charge off dispute, in which case it will remain on your credit report.

Learn more about credit repair and how to get bad credit financing by visiting the authors website.