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Sacos offers business insurance packages | 15 December 2020

On the occasion of Global Entrepreneurship Week, 2020 the Sacos Insurance Group offered a package to small business owners registered with Enterprise Seychelles Agency with the aim of helping the small businesses recover after unfortunate situations and unprecedented times as in the case of Covid-19.

Earlier this year Sacos signed a memorandum of understanding with the Seychelles National Youth Council (SNYC) and the Youth Entrepreneurship Board to encourage youth entrepreneurs as well affiliated with SNYC to insure their businesses.

The small businesses insurance package offers 15% discount on the purchase of a range of policies, including the fire and special peril (including burglary and loss of profit), employers’ liability, public liability, personal accident and house insurance. The fire and special perils policy covers your business against loss by fire and other perils such as storms, floods and also burglary. The loss of profit policy covers the loss of income that a business suffers after an insured disaster. Employers’ liability policy covers the business’ legal liability in cases of accidental death or bodily injury to employees due to negligence; while the public liability policy offers protection to businesses in cases where members of the public or clients have suffered personal injury or property damage, arising from their business activities.

The entrepreneurship and industry department stated that they welcome such an initiative in view that every business whether a start-up, micro, small, medium or large businesses faces unforeseen costs and risks to their businesses.

Investing in insurance can be the thread of life for any business and can improve their chance of survival especially for small businesses where the first two years are the most challenging in an environment where so many unpredictable factors can affect their net cash flow. It also improves their credibility in the eyes of business lenders and thus will make it easier for businesses to obtain financial assistance,” stated a spokesperson for the department.

“Knowing that assets are insured gives a business person the peace of mind he or she needs to concentrate on taking the best decisions for his/her business which can improve their efficiency and productivity. This will encourage competitiveness in the market and thus consumers will benefit from more improved or diversified products being available on the market. Thus the industry and the economy as a whole benefit as well,” the spokesperson went on to elaborate.

Any interested businesses are required to provide a proof of registration in order to be eligible to both offer.

For any further information or request for a quotation, businesses are advised to contact Sacos on +248 4295000, visit their website www.sacos.sc or pay them a visit at the head office at Maison Esplanade, Francis Rachel Street, Victoria. Visit the Praslin office at Pension Complex, Baie Ste Anne, or contact them on +248 423 2466.

Global Entrepreneurship Week (GEW) 2020, is the largest, and most visible one-week campaign affiliated with entrepreneurship. It occurs annually every November and celebrated among more than 170 countries with approximately 10 million people across the globe. This year, Seychelles hosted the GEW and secured multiple participants including the numerous departments and agencies dealing with youths to assist in promoting the values of entrepreneurship in Seychelles.

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