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Opportunity Issue 96

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Opportunity, endorsed by the South African Chamber of Commerce and Industry (SACCI) is the mouthpiece for business in Southern Africa. The aim of the publication is to inform potential investors both nationally and internationally of the most relevant business news: trade, investment, financial, market-related information for each business sector, as well as to inform of the latest developments in business legislation from both the public and private sector.

THE FEDERATED EMPLOYERS

THE FEDERATED EMPLOYERS MUTUAL ASSURANCE COMPANY (RF) (PTY) LTD The Federated Employers Mutual Assurance Company (FEM) was established as a mutual insurer in 1936 and, on the introduction of the Workmen’s Compensation Act of 1941, was granted a licence by the Department of Employment and Labour to continue to transact workmen’s compensation insurance for the construction industry. YEAR ESTABLISHED: 1936 TARGET MARKET Construction industry COMPANY VISION We care about the quality of life for injured workers and their dependants, and champion health and safety, for the benefit of all policyholders and society. Corporate PROFILE MISSION STATEMENT We strive to deliver an excellent and sustainable workers’ compensation service to all stakeholders by: • Being the preferred provider of COID cover • Raising awareness and promoting health and safety, as well as accident prevention • Ensuring efficient pay-outs, quality care and empathy to our claimants • Engaging and empowering our workforce DESCRIPTION OF PRODUCTS / SERVICES FEM provides compensation for construction workers, who are covered under FEM policyholders for severe occupational injury, disease or death while on duty. DESCRIPTION OF BUSINESS Our business operations are essentially confined to the insurance of employers against their liabilities under the Compensation for Occupational Injuries and Diseases Act of 1993 (COID Act).

FEM provides compensation for construction workers, who are covered under FEM policyholders for severe occupational injury, disease or death while on duty. FEM provides Workmen's Compensation cover alongside the state Compensation Fund in terms of the Compensation for Occupational Injuries and Diseases Act (Act No.130 of 1993, also known as the COID Act). The COID Act is aimed at providing compensation in the form of payment and medical aid for disablement caused by accidents to or industrial diseases contracted by employees in the course of their employment and for death or disease resulting from such accidents. The COID Act gives powers to the Director-General to appoint a commissioner who has specific functions in terms of the COID Act. One of those functions is to administer the insurance policies, in terms of the COID Act, thus resulting in the State being the insurer and the administrator of the compensation fund. The Minister of Labour, in terms of section 30 of the COID Act, can issue a licence to carry on the business of insurance of employers, against their liabilities to employees, to a mutual association. FEM is one of the two private sector companies that have been issued a licence to provide services under the COID Act. The compensation, in terms of the COID Act, is funded by the employers. The Act places an obligation on these employers to make contributions on an annual basis. According to the aforementioned licence, FEM is only permitted to provide services to employers ‘in building operations ranging from demolition work to painting and plastering, or tombstone erection to the construction of swimming pools, or electrical contracting to gas fitting and plumbing, to name a few construction sub-categories’. Such employers have an option of either insuring their workmen’s compensation liability with the Compensation Fund or with FEM. ____ ___ _ BENEFITS OF FEM MEMBERSHIP 1. Access to private healthcare for injured employees – FEM has established relationships with an extensive list of private hospital groups. 2. MSO – a group of qualified case managers who monitor treatment and ensure it is in line with the injury, thus eliminating over-servicing. 3. Administration done by FEM includes requesting of all reports until finalisation of claims. 4. Online submission of claims documentation to help speed up processing. 5. Accident statistics available online enabling benchmarking against other construction companies. 6. Recover costs from the Road Accident Fund, for motor vehicle accident claims, on the employer’s behalf. 7. On-site training for claims and underwriting training at FEM offices around the country on request. 8. Merit Rebates paid on favourable claims experiences. THE FEDERATED EMPLOYERS MUTUAL ASSURANCE COMPANY (RF) (PTY) LTD (FEM) 011 359 4300 | enquiries@fema.co.za | www.fem.co.za Physical address: Building 2, Glenhove and Oxford Bldg, 114 Oxford Road, Houghton, Johannesburg Postal address: Private Bag X87109, Houghton, 2041 ___ __ FEM is one of the two private sector companies that has been issued a licence to provide services under the COID Act, and currently covers in excess of 6000 construction companies and more than 300000 employees. Corporate PROFILE

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