We shield your business

So you can concentrate
on growing it

We shield your business

So you can concentrate on growing it


Discover How

FUNDS PROTECT

BUSINESS POLICY

Protecting YOUR BUSINESS or TRUST ACCOUNT against the loss of funds due to fraud

The Funds Protect Business Policies are designed to cover your business against the fraudulent conduct of third parties which result in a loss of funds from business accounts

Which product is suitable for my business?

Depending on the needs of your business, the following products are available:

Transactions up to R250k

Transaction over R250k

Trust Fund Administrators

Business Product Comparison

SPEAK TO YOUR BROKER ABOUT THE PRODUCT BEST SUITED TO YOUR NEEDS.

Funds Protect Business

Loss of funds


From your business
account


As result of a funds transfer


Authorised or unauthorised


Due to fraudulent conduct of 3rd party


Irrecoverable from bank or third party


0 to R250k


No underwriting


Simple application


Internet security on all systems


No special conditions for claims

Funds Protect Plus Business

Loss of funds


From your business
account


As result of a funds transfer


Authorised or unauthorised


Due to fraudulent conduct of 3rd party


Irrecoverable from bank or third party


R250k to R5mil


Underwriting required


Subject to approval


Internet security on all systems


Special conditions for claims

Funds Protect Trust Business

Loss of funds


Trust account administered by your business


As result of a funds transfer


Authorised or unauthorised


Due to fraudulent conduct of 3rd party


Irrecoverable from bank or third party


0 to R5mil


Underwriting required


Subject to approval


Internet security on all systems


Special conditions for claims

Cover Options

R50 000 @ R90 p/m


R100 000 @ R165 p/m


R250 000 @ R330 p/m


LIMITATIONS AND TERMS AND CONDITIONS APPLY

FUNDS PROTECT BUSINESS  

Who is the product suitable for?
 

  • Any business that holds a bank account for business purposes
  • Any business that transacts online
  • Any business that pays vendors via EFT
  • Transactions from R0 to R250k

Conditions of Cover
 

  • All computer systems must be protected by internet security
  • Payment of premium in advance

Speak to your broker about this product.

FUNDS PROTECT PLUS BUSINESS

Who is the product suitable for?
 

  • Any business that holds a bank account for business purposes
  • Any business that transacts online
  • Any business who pay vendors via EFT
  • Transactions from over R250k

Conditions of Cover
 

  • All computer systems must be protected by internet security
  • Account verification process must be used
  • Payment of premium in advance

What do we mean by account verification as a condition of claim?

Do you verify vendors /payees?
Do you verify new payment details for vendors /payees?
Do you verify requests to amend existing payments details for vendors/payees?

COVER OPTIONS

For premiums and cover limits available, please speak to your broker

LIMITATIONS, TERMS AND CONDITIONS APPLY. 

What do we mean by account verification as a condition of claim?

How is the authenticity, trustworthiness and integrity of a payment instruction verified?
How are payee detail amendment / additions verified?
Are verification services used to verify payment details?

COVER OPTIONS

For premiums and cover limits available, please speak to your broker

LIMITATIONS, TERMS AND CONDITIONS APPLY

FUNDS PROTECT TRUST BUSINESS

Who is the product suitable for?
 

  • Any business holds a bank account for the purpose of administering trust funds on behalf of a third party
  • Legal Practitioners
  • Property Practitioners
  • Custodians of third party funds
  • Does not cover the day-to-day business banking accounts of the business

Conditions of Cover
 

  • All computer systems must be protected by internet security
  • Account verification process must be used
  • Payment of premium in advance

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Specialising in niche products, our team is constantly innovating, thinking ahead and developing new products to mitigate risk for clients, especially in the Fintech space. Read More ...

Contact Us

SOUTH AFRICA

Fourways View Office Park
Block C
1210 Sunset Boulevard
Fourways, 2055

Legal

Phishield UMA (PTY) Ltd is an authorised Financial Services Provider (FSP No.: 46418) Underwritten by Bryte Insurance Company Limited.