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Sex, drugs and commercial crime claims

Published

2014

Tue

25

Feb

Company Listing: Camargue Academy »
 

 

 

 

 

   John Stebbing
   Camargue Liability Academy for Brokers

 

 

 

 

 

 

In this fascinating and true story, the Insured distributes social grants on behalf of a government organisation. This is done using four-man teams consisting of two security guards, a paymaster and a manager to manage the paymaster. The team uses a van to travel nationally, distributing cash in hot and remote parts of the country. In fact, it got so hot during a recent journey in October 2013 that the cash just evaporated.

On closer investigation, the Camargue loss adjuster uncovered a somewhat different version of events. Some claims really do start with a bang. On the night of the loss, both the manager and one of the security guards had left the team to visit girlfriends in a local village. Apparently, this is strictly forbidden. Their employer (our insured) does not approve of leaving large amounts of cash unattended while visiting girlfriends – irrespective of how compelling the visitation urge might be. This meant that the paymaster and one security guard were left to baby-sit R625 000 in the back of the company van.

Now we all know how unruly and difficult R625 000 can become – especially if only two people are trying to baby-sit it. No wonder then that the guard resorted to consuming some liquid refreshment to help soothe his shattered nerves. He claims he thought it was Coke. But this was a special kind of Coke and he only woke up the next morning. When we woke up he was relieved to discover that the pesky R625 000 had left.  His shattered nerves were once again set on edge as the rest of the team reflected alarm and panic at the thought of having to report the loss to the police.

Just for good measure the police arrested everyone. But due to bad policing the team were soon released with the hug and a kiss. But that’s not the whole story. While in jail the paymaster discovered that his roomie was a witch doctor. Any normal paymaster would use this opportunity to inflict his tale of hypochondria on the good doctor. But not this paymaster. No, he uses the opportunity to turn the jail cell into a confessional. The mind boggles at the conversation: “Forgive me, Witch Doctor, for I have sinned. There was this R625 000 in the back of my van and I didn’t think anyone would mind if …”.

You think that’s good – it gets better. So the witch doctor explains that when your team gets caught with its pants down, it is important to bless the necessary items to make sure things don’t come back to bite you. No, it’s not what you are thinking. It’s the other items, the R625 000, that needed blessing. (The ritual blessing ceremony involves touching the item(s), so it’s important to be clear about what needs to be blessed.) With that awkwardness out of the way,- the witch doctor and the paymaster proceeded to agree on a time and place where the money would be blessed. 

Unfortunately, the witch doctor got his potions mixed up. Instead of invoking a blessing, he accidentally conjured up a whole platoon of police who swooped in on the paymaster and arrested him with the money. So the moral of the story is: you need medical malpractice cover – even if you are a witch doctor, and don’t forget the Commercial Crime Cover!

 
Source: Camargue Liability Academy for Brokers
 
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From The Glossary »

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Aggregate Excess Of:

A form of excess of loss reinsurance which indemnifies the loss reinsurance ceding company against the amount by which its losses incurred during a specific period (usually 12 months) exceed either: _ a predetermined amount expressed in monetary terms, or _ a percentage of its subject premiums for the specific period.
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