Frequently Asked Questions
Who is the Financial Services Board (FSB) ?
The FSB is an independent watchdog regulating Financial Service providers throughout South Africa, as a registered insurance brokerage we are consequently regulated by the Financial Services Board. Our FSB number is 1962, this information can be validated on the FSB's Register by contacting them on 0800 110 443.
Who are the AFF and the AIIF ?
The AFF is the Attorneys Fidelity Fund - the fund provides compensation to clients who suffer loss by reason of theft of either money or property entrusted to an attorney in the course of his or her practice.
The AIIF is the Attorneys Insurance Indemnity Fund - the main objective of the AIIF is to provide professional indemnity insurance cover to all legal practitioners.
What is the difference in cover between the AFF and the AIIF ?
The AFF provides cover for loss arising out of theft, while the AIIF essentially provides cover for loss typically caused as a result of negligence. The cover provided by the AFF is to members of the public, whereas the AIIF provides an indemnity in the first instance to the practitioner. However, the cover by the AIIF is usually with respect to the claims of clients, so in effect members of the public ultimately receive the benefit of the indemnity provided.
Am I covered for theft of trust monies?
Attorneys may be under the misconception that the Attorneys' Fidelity Fund provides fidelity cover to practitioners against theft of trust funds. This is not the case. The intention of the Fund is to serve as a fund of last resort, to protect the public against theft of trust monies by attorneys.
In the event of misappropriation by one of your partners or members of staff, you may well find yourself having to make good the loss. Practitioners are advised to consider seeking cover to protect them against such an occurrence. In addition it should be noted that this cover differs from Fidelity Guarantee cover which usually forms part of your general short-term insurance cover for your firm.
Whose products does Lawsure offer?
We offer products from ABC Insurance Company - our products include Professional Indemnity Insurance, Fidelity guarantee insurance, Misappropriation of Trust Fund Insurance and Directors & Officers Insurance
Who pays Lawsure ?
Lawsure is paid by the insurance company on behalf of whom we place the cover. To avoid any conflict of interest and in the spirit of transparency we undertake to present quotations and policies that reflect the premiums and commissions payable.
What do I do if I have a complaint ?
Should you wish to register a complaint please contact us in writing at Lawsure (Pty) Ltd, P.O. Box 3441, Knysna, 6570, by telephone on 27 - 44 - 382 0550 or via e-mail on complaints@lawsure.co.za.
If you are unable to settle your complaint with us you are entitled to refer it to the Financial Ombudsman.
How do I submit a claim ?
In the event of a claim or a potential claim kindly contact us without delay. Written submissions should be sent to LawSure (Pty) Ltd, P.O. Box 3441, Knysna, 6570; should you be in doubt as to how to proceed, please call us on 27 - 44 - 382 0550.
