SCCI members get reduced premium rates from Sacos |21 February 2014

Members of the Seychelles Chamber of Commerce and Industry (SCCI) will benefit from between 10 to 15% discount on business insurances with the Sate Assurance Corporation of Seychelles (Sacos).

This follows the signing of an agreement this week between Sacos’ chief executive Antonio Lucas and Marco Francis, chairman of the SCCI, at the Sacos Tower in the presence of SCCI members and Sacos staff.

The agreement takes effect immediately.

In a press conference held after the signing of the agreement, Mr Francis said that Sacos and the SCCI have been working on the programme for a while as the SCCI is always looking for the best interest of its members.

“As all businesses know that the cost of doing business is rising, we are looking to cut it down. Insurance plays an important role in doing business and we are very happy that Sacos has embarked with us on this agreement in giving our members a reduction of 10 to 15 % on their premium,” Mr Francis said.

“Maybe some people might say it is very little but when doing business every penny counts,” he added.

“With this new initiative we are not only cutting cost of doing business but it is a way to encourage other businesses to become SCCI members,” added Mr Francis.

As this discount will apply for SCCI members, other businesses are being encouraged to join the SCCI and benefit from this agreement.

Mr Lucas explained that being a counsellor for the SCCI for some time he felt that as Sacos’ chief executive he could do something to help the chamber grow and have a stronger voice in society.

“We are offering 10% discount on all classes of business with individual premium exceeding R20,000 annually. And classes of business with individual premium not exceeding R20,000 we are offering a 15% discount annually,” Mr Lucas explained.

In addition to the 10 to 15% discount, members who sign long-term agreements with Sacos will benefit a further 5% discount on their premium.

“Existing members who already have a policy with Sacos will only benefit from this agreement upon the renewal of their policy,” Mr Lucas added.

Members of the SCCI are advised that the discount will be applied both on a direct basis with Sacos and also on businesses involving broker or agent.