Corporate Guarantee is currently the largest short-term insurer in Namibia and is part of the JSE-listed Nictus Group.  Corporate Guarantee specialises in ART (Alternative Risk Transfer) insurance solutions and services, catering for the needs of its corporate and professional clients in accordance with their specific risk circumstances and risk management efficiency.

You will receive 2 statements. The Experience Account statement reflects the balance in your ART fund.  The Debtor Account statement reflects what you have paid into your ART fund and what you still owe on the policy bought.

There is a section at the bottom of the Experience Account statement which shows the notional interest earned to date.  We refer to this as the NCB or No Claims Bonus. Please remember that the interest is capitalised at the end of the 12 month insurance period.

Corporate Guarantee rewards you for good risk management by increasing your cover by means of a No Claims Bonus calculated on the balance of your policy. If you do make a claim you will still earn a NCB albeit on a pro-rata basis.

As an individual who is subject to P.A.Y.E. you can deduct up to N$ 40 000 per annum on insurance and pension as stipulated in the tax tables. As a business or individual trading as, the amount you are able to write off is equal to the size of the premium bought, subject to having an insurable risk equal to or greater in value than the balance of your Experience Account.

All Corporate Guarantee policies are subject to VAT. The only VAT exempt policy is the Credit Guarantee policy.

As soon as we receive payment i.e. as soon as the inward payment appears on our bank we issue an invoice for the monies received. Please note that the actual policy document serves as proof that you have made provision for an insurance expense.

Law requires us to pay over 1% of the value of the policy to NAMFISA as a regulatory fee. This amount is included in your Administration Fee. Furthermore, there is a 1% Stamp Duty levy, with a maximum charge of N$ 250, which is applicable on each payment received by Corporate Guarantee.

Corporate Guarantee charges an up-front Admin Fee. This means that once the policy has been created, the first charge to be levied and deducted is your Admin Fee.  The Admin Fee is calculated on the VAT exclusive amount of the premium bought

Corporate Guarantee issues tax certificates for the Income Protection Policy and the Study Policy. For all other polices, please use the policy document as proof of purchase of insurance.