Welcome to Petrosure Underwriting Managers

Petrosure Underwriting Managers 
 
Who is Petrosure?
Petrosure was born out of the need for a dedicated Underwriting Management Agency with the right credentials in this exciting sector of our economy in line with the Liquid Fuels Charter proclamation.

The company consists of dynamic, black economically empowered multidisciplinary individuals drawn from a team of dedicated professionals and entrepreneurs, who want to participate in the unfolding process of economic transformation of South Africa.
   
Petrosure Underwriting Managers - Mission and Vision Mission Statement
To build strategic long term sustainable relationships with service providers providing quality products and services at competitive prices whilst offering the best value proposition for our customes.

To exceed the exacting demands & challenges by providing a specialist multiperil one-stop ship by being a total solutions for the fuel & motor traders insurance.
 
Our Vision
To be the preferres insurance services provider within the liquid fuels and motor industry by providing leadership, quality products and in the process, creating value for our stakeholders.
       
Bespoke Motor Traders & Fuel Insurance Specialists
 
Petrosure Underwriting Managers (PUM) is a niche short term specialist UMA, offering unique, innovative, tailor made risk management driven solutions to the Fuel & Motor Retail Industries. Through strategic partnerships, we strive for exceptional customer service levels unparalleled by our competitors.

In a world where unpredicatbility is the norm, risk management becomes an even more critical element in managing everyday risks and more so, within the life blood of our country's economy, the Fuel & Motor retail industries. We are committed to providing market leading solution products, as the shape of our niche focus continue to develop and evolve.

Our innovative, market leading motor trade insurance policy is designed for both road risks, premises and liability cover and some innovative enhancements. Our product solutions require a partnership approach between you, our valued brokers and clients, to enable us to give you that all important competitive edge in an increasingly competitive environment.
 
Petrosure Fuel Guarantee Insurance

The Fuel Guarantee Insurance basically means that the Fuel Retailer can use the insurance company as a guarantor when buying fuel.
 
Due to the nature of the fuel business and the high cost of holding stock, cash flow is one of the keys to the success of your business.

The business needs to generate enough revenue to meet daily, weekly and monthly expenses, and at the same time maintain stock levels to ensure uninterrupted trading in accordance with the fuel companies’ requirements. The retailer thus needs sufficient working capital to meet the demands of large fuel payments.

In order to do this, the retailer either takes out a large loan or provides an adequate overdraft facility. The need for a bank guarantee is over and above these requirements.

Without a guarantee, the retailer effectively trades on a ‘hard cash’ basis. Revenue needs to be in the account prior to payment for fuel, and delivery is only scheduled subsequent to payment. This working capital required is costly.

Note: Also refer to the Guidelines and Tips & Considerations applicable to Fuel Guarantee Insurance.

Click here to read more Fuel Guarantee Insurance detail »
 
 
Our List of Services
 
Petrosure Underwriting Managers (PUM), through our initimate knowledge of the markets we specialize in and our intrinsic understanding of our clients' needs, we are able to offer an excellent value proposition for our clients.
 
Herewith are some of the risks we underwrite, but are not limited to:
   
  Service Stations - All Brands   Wholesale Fuel Depots
   Car Washes   Motor Bike Dealerships
  Workshops   Motor Spares
  Towing & Break Down Companies   Salvage Yards
  Motor Dealerships   Vehicle Breakers
  Panel Beaters   Engine Remanufactures
  Fitment Centres   Vehicle Body Building
  Car Hire Companies   Vehicle Testing Companies
  Tyre Dealer Companies   Vehicle Manufacturers
  Auto Shuttle Companies   And many more...
 
 
  • Cover for cash in transit, credit-card fraud and personal accident assault under the money section;
  • Public liability inclusive of forecourt negligence cover where employees dispense the incorrect grade of fuel into a customer's vehicle, causing damage to the vehicle;
  • Car hire for third party affected by incorrect dispensing of fuel - R20,000;
  • Special defective workmanship for any word that still has to be handed over by insured to his client - R50,000;
  • Clients own vehicle up to 5 included under Motor Traders section;
  • Sub-contractors included;
  • Excellent Road Side Assist with the AASA - Automobile Associating of South Africa;
  • Business Interruption cover as a consequence of enviornmental impairment problems leading to site being closed down;
  • ATM cover;
  • All bulltet proof glass covered;
  • Death in Service cover for cashiers, petrol attendants;
  • Compatability cover under Business All Risks.
 
 
 
 
Automatic Extensions under the Fire section include:
 
  • Fuel leakage - Limited to R150 000;
  • Contamination of fuel - Limited to R150 000;
  • Subsidence and Landslip - Limited to R150 000;
  • Contents of fridges and freezers - Limited to R75 000;
  • Shade netting - Limited to R50 000;
  • Damage to blinds, signage and canopies - Limited to R50 000;
  • Damage to bollards, perimeter fence - R50 000;
  • Vehicles on premises - Accumulation limit R300 000;
  • Refrigerated stock - R75 000;
  • Fatal injury & Medical Extension - R15 000;
  • Damage to gardens, landscaping and playground - Limited to R15 000;
  • Claims preparation costs - Limited to R50 000;
  • Claims preparation costs - R100 000;
  • Debris Removal - R100 000;
  • Post trauma counselling - R15 000.
 
Automatic Extensions under the Business Interruption section include:
 
  • Additional increase in cost of working - Limited to R300 000;
  • Customers - Unspecified;
  • Suppliers - Specified;
  • Suppliers Sub-Contractors;
  • Prevention of Access - Extended cover;
  • Public Utilities - Extended cover;
  • Public Telecommunications - Extended cover;
  • Accidental Damage - Limited to R100 000;
  • Claims preparation costs - Limited to R100 000;
  • Franchise and Royalties (must be part of Fixed Expenses).
 
Automatic Extensions under the Theft section include:
 
  • Damage to Buildings - Limited to R50 000;
  • Malicious Damage to contents - Limited to R50 000;
  • Loss of Building Locks and Keys - Limited to R10 000;
  • Good not meant to be in the open - R10 000;
  • Watchman Extens / Cost of boarding up - Limited to R7 500;
  • Cellphone Cards/Cigarette Limit - R20 000.
 
Automatic Extensions under the Money section include:
 
  • Clothing and personal effect - Limited to R5 000;
  • Locks and keys - Limited to R10 000;
  • Cash till limits (combined) - Limited to R10 000;
  • Credit card extension, included eustomers absconding before payment - Limited to R5 000;
  • Petrol attendants - Limited to R2 500;
  • Virtual Airtime - Limited to R15 000;
  • Bilking - Limited to R5 000;
  • Personal Accident Assault - Limited to a Capital sum of R50 000; maximum 5 persons;
  • Receptacle - R25 000.
 
Automatic Extensions under the Public Liability section include:
 
  • Wrongful Arrest and defamation - Limited to R250 000;
  • Legal Defence costs - Limited to R250 000;
  • Products liability including food poisoning - Limited to R1 000 000;
  • Defective Workmanship - R 1 000 000;
  • Special Defective Workmanship Liability - R50 000;
  • Spread of Fire Liability;
  • Forecourt Negligence - Limited to R 1 000 000;
  • Car Valet - Limited to R100 000;
  • Fire extinghuising costs - Limited to R20 000;
  • Umbrella Liability;
  • General & Tenants Liability.
 
Automatic Extensions under the Electronic Equipment section include:
 
  • Reinstatement of data - Limited to R25 000;
  • Increased cost of working - Limited to R25 000;
  • Telkom Access Lines;
  • Incompatibility Cover;
  • Transit and away from the premises;
  • Failure of electricity supply.
 
 
Contact Petrosure Underwriting Managers (PUM):
Telephone: (011) 484-0380
Fax: 086 425 9850
e-Mail:  info@petrosure.co.za
Website: www.petrosure.co.za
 
 
 
Petrosure Underwriting Managers (Pty) Ltd is an Authorised Financial Services Provider (FSP: 45316).
Underwriting Agency for Old Mutual Insure Limited (FSP: 12)
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