Cyril Donald Mahlangu (612 FAIS credits) is the founder and director of the company. He holds a BSc Honours in Financial Mathematics from the University of Pretoria and a BSc in Mathematics and Statistics from the University of Limpopo. He is a qualified JSE Junior Dealer through the South African Institute of Financial Markets. He also holds a Certificate of Proficiency from the Insurance Institute of South Africa, and RE1 and RE5 through Moonstone.
Cyril is a seasoned broker with more than 14 years in the short-term insurance industry. He rose to Accounts Manager at Glenrand MIB, was an Accounts Director at Sankofa Insurance Brokers (Pty) Ltd, and was a Manager at Daberistic Financial Services.
Cyril has worked on accounts such as the Public Investment Corporation, African Bank Limited, Bank of Taiwan, Master Currency, Argon Asset Management and the NHBRC.
True to its name, Asterism Risk Managers brings together professionals of distinct disciplines and expertise. An asterism is a pattern of stars that appear to form a single constellation, although each star shines at its own distance from the earth. In the same way, our team draws on specialists in insurance, finance, law, labour relations and risk management, each bringing a different vantage point to every account.
Individually, each discipline sees a part of the risk; together, they see the whole. By working as one, our people are able to identify, assess and address risk from every angle, giving our clients advice that is both broad in perspective and deep in technical insight.
We believe our clients know their businesses' true risk exposure best, and we advise buying the highest level of cover you can reasonably afford.
Some indicators help set the right level of cover. Some sectors, such as pharmaceuticals and financial services, are more litigious than most, so expect claims that are rare but severe. Some sectors are more hazardous, such as construction at height. People responsible for large, business-critical projects or with significant sign-off authority may need more cover because of their position.
Most of our clients start with a lower level of cover and increase it as they grow and their exposure changes.
Bankers' Comprehensive Insurance, commonly referred to as a Bankers' Blanket Bond (BBB), is a specialised financial institutions policy that indemnifies banks, micro-lenders, asset managers and other deposit-taking or money-handling entities against direct financial loss arising from criminal and dishonest acts. The policy responds to losses caused by employee infidelity, external fraud, forgery and the physical loss of money and securities, whether on the insured's premises or in transit. Cover is typically extended to include computer crime and electronic funds-transfer fraud, reflecting the growing digitisation of banking operations. Indemnity is generally provided on a discovery basis, subject to the policy's aggregate limit, deductibles and specific exclusions such as trading losses and indirect or consequential loss.
Cover depends on the insurer and the policy wording. Speak to us for advice on your needs.
Directors' and Officers' Liability insurance indemnifies directors, prescribed officers and senior managers against personal liability arising from wrongful acts committed in their managerial capacity, including breach of fiduciary duty, negligence, misstatement and breach of trust. Under the Companies Act 71 of 2008, sections 77 and 22 expose directors to personal liability for reckless trading and losses caused by a failure to act with due care, skill and diligence. The policy is written on a claims-made basis and responds through Side A (non-indemnifiable loss to individuals), Side B (reimbursement of the company where it indemnifies its directors) and, where purchased, Side C (entity securities cover). Defence costs, regulatory investigation costs, damages and settlements are covered, subject to conduct exclusions for proven fraud and dishonesty.
Cover depends on the insurer and the policy wording. Speak to us for advice on your needs.
Employment Practices Liability insurance indemnifies an employer, and its directors and managers, against claims brought by employees, former employees and prospective employees alleging wrongful employment-related conduct. In the South African context, such claims typically arise under the Labour Relations Act 66 of 1995 and the Employment Equity Act 55 of 1998, and are adjudicated by the CCMA, bargaining councils and the Labour Court. Insured events include unfair dismissal, unfair labour practice, discrimination, harassment, victimisation and wrongful failure to employ or promote. The policy is written on a claims-made basis and responds to defence costs, compensation awards and negotiated settlements, but generally excludes statutory remuneration, benefits owed and the cost of reinstatement.
Cover depends on the insurer and the policy wording. Speak to us for advice on your needs.
Trustees' Liability insurance, also known as Pension Trustee or Fiduciary Liability cover, protects the board of trustees, principal officer and the retirement fund itself against personal liability arising from breaches of fiduciary duty imposed by the Pension Funds Act 24 of 1956, the fund rules and the common law. Trustees are personally accountable for the prudent management of members' assets, the correct payment of benefits, adherence to Regulation 28 investment limits and the collection of employer contributions. The policy indemnifies defence costs, damages and settlements arising from member complaints, Pension Funds Adjudicator determinations and Financial Sector Conduct Authority investigations. Cover is written on a claims-made basis and typically excludes dishonest or fraudulent acts and the return of contributions owed.
Cover depends on the insurer and the policy wording. Speak to us for advice on your needs.
Property and Casualty insurance provides a combined package of first-party material damage cover and third-party liability protection for commercial enterprises. The property sections indemnify the insured against sudden and accidental physical loss of or damage to buildings, plant, machinery, stock and contents caused by insured perils such as fire, lightning, explosion, storm, flood, theft and malicious damage. Business Interruption cover responds to the resultant loss of gross profit and increased cost of working during the indemnity period. The casualty sections cover the insured's legal liability for bodily injury or property damage to third parties, including public and products liability. In South Africa, special risks such as riot, strike, civil commotion and terrorism are insured separately through SASRIA.
Cover depends on the insurer and the policy wording. Speak to us for advice on your needs.
A Constructors' (Contractors') All Risks policy provides indemnity for the duration of a construction or civil engineering project, from commencement of work on site until practical completion and handover, including any agreed maintenance period. Section 1 covers sudden and accidental physical loss of or damage to the contract works, materials, temporary works and, where specified, contractors' plant and equipment, caused by perils such as storm, flood, fire, collapse and theft. Section 2 covers the legal liability of the principal and contractors for third-party bodily injury and property damage arising from the works. Ancillary costs such as professional fees, debris removal and escalation are commonly included, while defective design, faulty workmanship and wear and tear are excluded under standard JBCC-aligned wordings.
Cover depends on the insurer and the policy wording. Speak to us for advice on your needs.
Motor and Household insurance is a personal lines package that protects individuals and families against loss of or damage to their vehicles, homes and personal possessions. Motor cover may be arranged on a comprehensive, third-party fire and theft, or third-party only basis, and responds to accidental damage, theft, hijacking and the insured's liability for damage to third-party vehicles and property. The household contents section indemnifies against loss or damage to movable possessions from perils such as burglary, fire, storm and power surge, while the buildings section covers the physical structure of the home. All Risks extends protection to specified and unspecified portable valuables anywhere in Southern Africa, and personal liability cover protects the insured against claims from members of the public.
Cover depends on the insurer and the policy wording. Speak to us for advice on your needs.
Cyber insurance provides first-party and third-party protection against the financial consequences of cyber incidents, including ransomware, malware, hacking, phishing, business email compromise and accidental data breaches. First-party cover responds to incident response and forensic investigation costs, data and system restoration, cyber extortion payments where lawful, and loss of income from network interruption. Third-party cover indemnifies the insured against claims arising from the compromise of personal information, regulatory defence costs and notification obligations under the Protection of Personal Information Act 4 of 2013 (POPIA), and media liability. Cover is typically subject to minimum security controls such as multi-factor authentication and data back-ups, and social engineering or funds-transfer fraud may be added by extension.
Cover depends on the insurer and the policy wording. Speak to us for advice on your needs.
Asterism Risk Managers
Cellphone Number: 082 760 6519
E-mail: info@asterismrm.co.za
Fax2Email: +27 86 552 4003
P.O. Box 517
Thulamahashe
1365
Website: www.asterismrm.co.za
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