Introduction
In terms of the FAIS Act (Act 37 of 2002) as amended our company is required to develop and maintain a Conflict of Interest Policy to which all members of the company must comply with. Our Policy sets out the mechanisms in place to deal with the conflicts of interest. This document summarizes our Conflict of Interest Policy.

The purpose of this policy
Our company forms part of an Association of Companies under the Brand name APBCO. The broking companies within this association are Authorized Financial Services Providers providing advice and intermediary services to our clients on short term insurance products and is therefore potentially exposed to conflicts of interest. The purpose of this policy is to set out the process of how our company will comply with the requirements on conflicts of interest as set out by law.

What is a Conflict of Interest ?
The FAIS Act defines a Conflict of Interest as any situation in which a provider or a representative has an actual or potential interest that may, in rendering a financial service to a client, -
a. influence the objective performance of his, her or its obligations to that client; or
b. prevent a provider or representative from rendering an unbiased and fair financial service to that client, or from acting in the interests of that client, including, but not limited to –
i. a financial interest
ii. an ownership interest
iii. any relationship with a third party

Our Objectives with this Policy
Our company , including our Management and Representatives will seek to avoid any conflict or potential conflict of interest which may arise from conducting our business. Where we are unable to avoid such conflict of interest we will take all reasonable steps to mitigate such conflict of interest and will also disclose such conflict of interest to all our clients where required.

Identfication of Conflicts
Our company provides a range of short term insurance products to our clients. Due to the nature of our business we are faced with conflicts. All employees, including Management and the company’s Compliance Officer are responsible for identifying specific instances of conflict and are required to notify their manager of any conflicts (or potential conflict) of interest they become aware of. The manager will then inform the Compliance Officer who will investigate the matter and will advise the manager on the implications of the conflict and how the conflict should be managed.

Managing Conflicts of Interest
If a conflict of interest exists or occurs it needs to be managed appropriately and adequately in order to mitigate the impact of such conflict. Once a conflict has been identified, a director of the company must asses the conflict and establish whether the conflict is actual or only perceived. If the conflict is actual , management will after consultation with the Compliance Officer decide whether it is viable and acceptable to proceed with the transaction or whether to decline the transaction. Where the company cannot avoid the conflict of interest, the company will :
· Where possible mitigate the conflict of interest
· Disclose such conflicts to all relevant parties where required by law
· Provide reasons why the conflict cannot be avoided.
· Keep record of the conflicts of interest
All staff members were informed of our Conflict of Interest Policy and have received a copy thereof. Where necessary staff members received guidance and training in these procedures.

Disclosure of Possible Conflicts of Interest
Our company whish to disclose the following :
· Both APBCO and Legacy Underwriting Managers lease office space in certain areas in the same building. The purpose of this arrangement is to enable both parties to provide clients with more effective service.
· APBCO and Legacy Underwriting Managers utilize the same Human Resources , IT and Financial Organization to perform administration functions which include Reception, Switchboard, Accounting Services, IT and Human Resources.
· Furthermore it is to be noted that APBCO and Legacy Underwriting Managers employ a director who serves on both the boards of directors. This director acts as a mentor for both boards of directors.
· We are acting for different clients
· We are involved with several associates, product suppliers, distribution channels and other third parties in the rendering of our financial services to clients Remuneration Our company and its representatives receive only the following   financial interests from financial services providers / suppliers and other third parties:
· Commission authorized under the Short-term Insurance Act, 1998
· Fees authorized under the Short-term Insurance Act, 1998 which fees are reasonably commensurate to the service being rendered Our company and its representatives however are allowed to also receive the following financial interests from financial services providers / suppliers and other third parties :
· Fees for the rendering of a financial service in respect of which commission or fees (as stated above) is not paid, if these fees are specially agreed to by a client in writing and may be stopped at the discretion of that client.
· Fees or remuneration for rendering services to third parties, which fees or remuneration are reasonably commensurate to the services being rendered to such parties.
· Subject to any other law, any immaterial financial interest (R1000.00 rule)
· A financial interest , not referred to above for which a consideration, fair value or remuneration that is reasonably commensurate to the value of the financial interest, is paid by that provider or representative at the time of receipt thereof.
Our company may not offer any financial interest to any of our representatives for :
· Giving preference to the quantity of business secured for the company to the exclusion of the quality of the service rendered to clients
· Giving preference to a specific short term insurance supplier, where the representative may recommend more than one short term insurance supplier to a client
· Giving preference to a specific product of a short term insurance supplier, where the representative may recommend more than one product of that short term insurance supplier to a client

Non Compliance with the Conflict of Interest Policy
Any staff member that do not comply with this policy will be subjected to disciplinary action as dictated by the FAIS Act and the company’s internal Code of Conduct. The action that resulted in the non compliance will be noted on the Non-Compliance Register and corrective measures will be investigated and where possible be implemented to prevent similar non compliance in future.
The associated companies who provide financial services are all licensed as Authorised Financial Services Providers with the Financial Services Board. Further information with regards to these relationships are available on request to all parties who have a legal right to this information. Any requests for this information must be directed to the Board of Directors.

Apbco’s new Golfersure product has been developed around the need of golfers in South Africa.  Short term insurance is focusing more and more on the lifestyle and risk of clients.  Golf is one of the fastest growing sports in the world.    Apbco’s Golfers policy offers special benefits to the golfer, which varies from lower premiums to free golf equipment insurance up to R40 000, for those who qualify.

The Golfers policy now offers you the opportunity to insure your golf equipment free of charge for up to R40 000 per policy. This offer includes you and your family. This includes al the golf irons, putters, drivers and clothing and even the golf car (except the motorized one). You will find this benefit nowhere else in South Africa. We challenge you to compare your existing portfolio with some of the best premiums in the country. See whether you are able to insure your own and your family’s golf equipment free of charge with an inclusive benefit of a R4000 bonus should you score and provide proof of a hole in one..

The Golfers policy was created by Apbco who has been marketing exclusive insurance products over the past 27 years to a selected market varying from the public to the private sector.  The Golfers policy therefore offers you trusty value with a whole lot of extras, which won’t be found anywhere else – all just for the golfer.  The Golfers policy is underwritten by Hollard Insurance Company, which was voted the best Insurer in South Africa.  The administration is handled by Legacy Underwriting Managers whose relation with Apbco goes back 27 years.

All you need to do is to compare your existing motor and household insurance premium with the special offer on the Golfers policy. Just send us your detail and  we will contact you to arrange for an appointment.

Click here for a Golfsure Quotation

• The best, lowest premiums
• No excess payment on your policy (conditions apply)
• Branches nationwide
• We replace your new vehicle with a new one for as long as five years (vehicle must be in excess of R200 000). Conditions apply.
• Car hire up to 60 days as well as luxury options available
• Work through our Call Centre with all inquiries or one of our professional advisers will make an appointment with you to discuss the benefits of the policy with you
• We deliver your policy documentation or send it by e-mail. The choice is yours.
• We underwrite your risk profile. Therefore you don’t pay for other’s claims and as long as you manage your portfolio, premiums will stay low
• Claims and underwriting helpline 0861 24 35 48
• Electrical and plumbing emergency service for emergency cover up to R2000 per event
• Free car keys and lock cover of R3000

I am interested in a quotation

We always hear how clients with motor insurance complain about the settlement amount after theft or a write off on a vehicle.  We all know that vehicles depreciate very quickly. The Apbco replacement motor policy now offers you the benefit of insuring your vehicle at the replacement value of the vehicle for up to 5 years.

How does it work?

If your vehicle is currently new with a replacement value of R250 000 and more you may use this benefit for as long as 5 years.

We’ll insure your vehicle for the next 5 years at the latest replacement value of the current model and if your vehicle gets stolen of written off; your insurance policy will pay out the replacement value as insured on your policy schedule.

Added to the standard cover the policy is extended to cover the following:

• Free car hire

We will pay up to R300 per day up to a maximum of 30 days

• Outstanding Leasing or Credit Agreement Balance

We will pay for the difference between replacement and balance of any Leasing of Credit Agreement   up to a maximum of the sum insured

• Emergency overnight accommodation

We will pay the expenses incurred of an emergency accommodation up to two nights subject to        R1000 for the driver and a maximum of R5 000 for all occupants of the vehicle

• Legal Expenses

If a civil action is instituted by you as a driver or passenger we will pay all legal costs up to a maximum of R15 000 for such action, subject to the terms and conditions applicable.

All you need to do is to contact one of our friendly and skilled advisers to compare your existing cover with the exclusive benefits offered by the Apbco Motor- and Household policy.  Should you be interested in moving your portfolio to the Apbco product, you will have the choice of contacting the call centre directly or we can arrange with an Advisor to visit you at home or your office, whichever you prefer.

All policy documents will be sending to you electronically within 24 hours after acceptance of the policy.  Should you have any queries on your cover in the future, you are welcome to contact the call centre with your query.  Would you prefer to speak to a Broker, we will send a Consultant to assist you.

If you don’t want to call us, you are welcome to complete the following quotation and we will call you: