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Commrisk Insurance Brokers (Pty) Ltd
launches South Africa’s first Cycad Insurance

Commrisk is delighted to announce the launch of South Africa’s first Cycad Insurance product, which speaks volumes of our commitment to the environment in the protection of this indigenous and endangered species

Cycads are a small group of plants that are one of nature’s true survivors, enduring Ice Ages and Pre Historic events. Cycads are known to have lived over 200 million years ago, even before the dinosaurs roamed the earth. They are some of the most fascinating plants and are a popular collectable that has achieved iconic status in suburban gardens and collections. But sadly, the South African cycad is now the most threatened group of organisms that face an extinction crisis due to dishonest human activity

Geraldine Aves, Green Champion at Commrisk, says: “We fully understand that the demand for cycads is on the rise and that these green treasures are being stolen at an alarming rate. Therefore our unique and specialized product offering will cover these prized collections against the primary threat of theft.”

Ready, steady, action – Commrisk’s brave entry into ‘green insurance’ is reinforced by all round innovation. It took courage and tenacity to break free from the conservative mainstream approach to Financial Services way of thinking. With Cycad Insurance, Commrisk brings together the cycad collectors, nature conservationists and the short-term insurance communities, in a new, innovative and exciting community with its sole focus being the preservation, conservation, propagation and education of this endangered species, says Geraldine.

Cycad Insurance is the culmination of combining two divergent disciplines – Financial Services and Flora. For a mutually beneficial integration of these disciplines, different mind-sets had to be applied, and what emerged was a group of amazing people who collectively were ready to change the world in their own small way. From an Insurance perspective

it was very necessary to realize that these plants are indeed valuable assets that are not only highly collectable, but antique in nature.

This distinctive combination of the recognized plant collection and theft cover will pave the way for ‘green insurance’ in South Africa, and our thinking around nature and business has resulted in a long-awaited paradigm shift in the way forward for insurance. Cycad Insurance exists because of a scarce commodity, our endangered cycad.

Today Nature Conservation efforts are extended by strictly regulated legislation regarding the trading, ownership and movement of these plants. Cycad owners must possess permits for the indigenous cycad. The implementation of cycad theft cover is also an effort to help restore the environment by curbing the illegal trade and ownership of cycads. With the implementation of Cycad Insurance, Commrisk is encouraging collectors to comply with legislative requirements on permits before qualifying for the sought after theft cover.

We at Commrisk are optimistic that the product’s existence will also help promote the conservation and propagation of this endangered species.

The environmental thinking that has inspired this green insurance for South Africa’s natural heritage and green treasures is long awaited and a necessary move towards future long-term sustainability for both insurance and the environment. Simply put, Cycad Insurance is inspired by nature. The importance of this product cannot be sufficiently stressed as this is only the first step to greater awareness and action to support the conservation efforts for this endangered species, concludes Geraldine.

Cycad Insurance, more than just insurance!
Geraldine Aves
Account Manager & Green Champion
Commrisk Insurance Brokers (Pty) Ltd
(011) 840 7000
geraldinea@mweb.co.za

 

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