Affordable and Innovative Insurance Solutions for Today.

A Composite Broker offering Life and Non-life Insurance products.

The Company

Letsema Investment Club (Pty)Ltd was incorporated in September 2003 as an Insurance Brokerage service. The company, being 70% citizen owned has also been recognized by the ministry of Trade and Industry and issued with a certificate as a preferred supplier of its services, as per Presidential Directive Cab 25(B)/2004. The Company is funded by CEDA and also trades as Letsema.

In Setswana, Letsema connotes working together as a family. To our clients that means bringing together innovative professionals from around the region and beyond into a single, unified organisation providing first rate services and business solutions. Our name embodies the fact that we have a strong interdependent culture, which fosters innovation.

We work to bring our clients creative solutions, innovative technology and professional value of products that we have designed for our clients.

Why Us

Being a citizen owned brokerage, we have an intimate knowledge of the local insurance market, its products, pricing and services.

As an emerging broker in the local insurance market with Internationally qualified and experienced staff at the helm of the company, we are able to use this leverage to obtain the most competitive terms and broadest coverage for our clients.

We have dedicated, qualified and experienced staff who are client — centric and who deliver innovative insurance and risk solutions.

Our corporate philosophy is predicated upon putting our clients first at all times and in so doing upholding

the highest professional and ethical standards in line with the SADC business excellence model.

Owing to the adaptability of our services, our clients range from individuals to corporate and include:

INSURANCE products

In order to provide our clients with a comprehensive service, the company has installed a state of the art combined Investment, Accounting and Insurance services information technology software package (Manager Facilities).

We are an insurance services company: we help our customers manage their risk and savings to protect the present and plan for the future.

We identify existing products with underwriters or assists underwriters design products that match the risk profile of our clients.

Householders Insurance

This policy is intended to cover all material loss or damage for direct physical loss or damage to your insured physical buildings occupied as private dwellings caused by or arising from the insured perils described in the policy.

Scope of Cover:

Loss or damage to domestic buildings caused by the under-noted.

Extension of Cover:

1. Accidental Damage

2. Riot, strike and civil commotion

3. Personal effects of guests

4. Locks and key

Exceptions:

• Money or negotiable instrument except as specifically mentioned;
  
• Medal, stamp and coin collection, except as specifically mentioned;
  
• Motor vehicles, trailers, caravans, watercraft, aircraft and their accessories, livestock or trade goods of any description;
  
• Property more specifically insured;
  
• Precious metal and stones, jewelry and furs to the extent that their undamaged value exceeds 30 percent of the total sum insured.
  

Indemnity Period: Twelve [12] Months

Special Conditions

(i) Average: If the property insured shall, at the commencement of any destruction or damage to such property by any peril insured against being destruction or damage to such property by any peril insured against being collectively of greater value than the sum insured thereon, then the insured shall be considered as being his own insurer for the difference and shall bear a ratable share of the loss accordingly.

Every item, if more than one, shall be separately subject to this condition. If the insured item is an individually specified article then.

House Owners Insurance

This policy is intended to cover all material loss or damage for direct physical loss or damage to your insured physical buildings occupied as private dwellings caused by or arising from the insured perils described in the policy.

Scope of Cover:

Loss or damage to domestic buildings caused by the under-noted.

Extension of Cover:

1. Accidental Damage

2. Riot, strike and civil commotion

3. Personal effects of guests

4. Locks and key

Exceptions:

• Money or negotiable instrument except as specifically mentioned;
  
• Medal, stamp and coin collection, except as specifically mentioned;
  
• Motor vehicles, trailers, caravans, watercraft, aircraft and their accessories, livestock or trade goods of any description;
  
• Property more specifically insured;
  
• Precious metal and stones, jewelry and furs to the extent that their undamaged value exceeds 30 percent of the total sum insured.
  

Indemnity Period: Twelve [12] Months

Special Conditions

(i) Average: If the property insured shall, at the commencement of any destruction or damage to such property by any peril insured against being destruction or damage to such property by any peril insured against being collectively of greater value than the sum insured thereon, then the insured shall be considered as being his own insurer for the difference and shall bear a ratable share of the loss accordingly.

Every item, if more than one, shall be separately subject to this condition. If the insured item is an individually specified article then.

Domestic

All Risk

This policy covers, portable items which by their nature are normally taken outside the premises for use, excluding computers and laptops.

Scope of Cover:

All risks of physical damage/loss or destruction by fire, theft or any accidental misfortune not specifically excluded. Cover much wider and includes theft of items outside or away from the Insured’s premises.

Exceptions:

Loss or damage caused by mechanical breakdown derangement or collapse. Normal wear and tear maintenance, corrosion, inherent, vice latent, existing defects. Property more specifically insured.

Motor Insurance

This policy incorporates three sections namely, Loss or Damage, Liability to Third Parties and Medical Expenses, being sections A, B and C, respectively.

• Loss or Damage Section is intended to cover all material loss of or damage to any vehicle described in the schedule belonging to you or for which it is responsible including its accessories and spare parts thereon.
  
• Liability to Third Parties Section is meant to provide an indemnity to you in respect of legal liability for accidental death or injury or damage to property of the public caused by the use of motor vehicles.
• Medical Expenses Section is designed to provide indemnity for medical expenses incurred by injured occupants or in the insured vehicle up to
• P 1,000.00 per occupant and P 10,000.00 per any occurrence.

GROUP PERSONAL ACCIDENT

• Provides cover for members on 24 hours basis and benefits payable following Accidental Bodily injury and or Death. (Death arises as a result of accident from any cause not specifically excluded).
  
• A natural death or death as a result of an ailment is excluded. The compensation benefits as stated in the policy schedule. The premium computation is based on annual earnings.
  

COMPARISON OF COVERAGE(S)

• Benefits assured for the estate of a member who dies whilst in service or from any cause not specifically excluded.
  
• The computation of premium is based on salary and age:
  
• Free Cover Limit: P600 000: members will be automatically covered up to the FCL without being subjected to medical examinations.
  
• The cover is inclusive of HIV / AIDS
  

Travel Insurance

This policy is designed to provide coverage for the insured personnel travelling to and from outside the country on business against accidental death and / or injury, loss of or damage to baggage, hospital and medical expenses and expenses incurred due to cancellation or curtailment of the trip.

The risk commences from the time of checking out and ends at the time of checking in at any immigration point of exit and entry, respectively on any border or airport point.

This policy is ideal for you due to a number of risks involved in the travelling personnel. Moreover, some countries, especially the developed world make it mandatory for people travelling to their countries as a prerequisite to purchase travel insurance.

Interest: All personnel travelling outside the country on official business.

Scope of Cover

It covers the travelling personnel outside the country against;

• Accidental death or bodily injury
  
• Personal Baggage
  
• Hospital and Medical Expenses for the cost of medical, surgical or hospital treatment, ambulance services, additional hotel and other expenses necessarily and reasonably incurred.
  
• Expenses incurred due to cancellation or curtailment of trip for loss of deposits paid for advance bookings and liability to pay for unused travel and other accommodation due to cancellation of trip before it commences or its curtailment after the trip has commenced.
  

Fire Insurance

INTRODUCTION

This Section forms part of the Policy only if shown in the schedule with a related premium and, if so, must be read together with the rest of the Policy.

DEFINED EVENTS

Damage to the whole or part of the property described in the schedule, owned by you or for which you are responsible, including alterations by you as tenant to the buildings and structures, by

1. Fire

2. Lightning or thunderbolt

3. Explosion, subterranean fire

4. Such additional perils as are stated in the schedule to be included

5. Earthquake (whether arising from mining operations or otherwise) volcanic eruption or other convulsion.

SPECIFIC EXCEPTIONS

1. This section does not cover earthquake (whether arising from mining operations or otherwise) unless added as an additional peril.

Any damage happening during the existence of abnormal conditions (whether physical or otherwise) which are occasioned by or through or in consequence, ...directly or indirectly, of any of the said occurrences will be deemed to be damage which is not covered by this insurance, except to the extent that You will prove that such damage happened independently of the existence of such abnormal conditions.

In any action, suit or other proceedings where insurer alleges that, by reason of this exception, any damage is not covered by this insurance, the burden of proving the contrary will be on you (insured).

2. Unless specifically included, this insurance does not cover

(i) Damage to property occasioned by its undergoing any hearing or drying process

(ii) Damage to property which at the time thereof is insured by or would, but for the existence of this insurance, be insured by any marine policy (ices), except in respect of any excess beyond the amount which would have been payable under the marine policy(ices) had this insurance not been effected.

Business Insurance

Outlined below is a brief description of cover and terminology guide for your business insurance.

MultiMark (Combined Business Insurance) Defined

MultiMark is a combined and tailored business package aligned to protect small and medium-sized businesses from insurable claims that could be a serious financial burden. MultiMark Coverages ensure that you are sufficiently protected from accidents against yourself, your property, your income, your employees, and members of the public or their property.

Fire Insurance

Covers buildings and contents against damage caused by fire, lightning, explosion, earthquake, storm, flood, collision by vehicles, aircraft and animals, falling trees, malicious damage, and other insured perils.

Theft Insurance

Covers theft of all contents resulting from forcible and violent entry into insured premises.

Building Combined

Building combined insurance is fire insurance for non-hazardous occupations such as flats, offices, hospital, and medical suits. Covers buildings against damage caused by fire, lightning, explosion, earthquake, storm, flood, collision by vehicles, aircraft and animals, falling trees, malicious damage, and other insured perils.

Additional Covers are,

• Fire and Special Perils for loss of rent.
  
• Theft (of landlords fixtures and fittings)
  
• Accidental Damage to public supply connections.
  
• Property Owners liability.
  

Office Contents

Covers contents of office premises for fire and allied perils, loss of rent, theft, and all risks coverage for documents. The policy is designed for professional type organisations or offices strictly used as such and not those forming part of trade premises. In this regard stock in trade and samples are specifically excluded.

Business Interruption

Covers loss of net profit and pays for fixed (continuing) cost related to the business if premises are destroyed as a result of events covered under the fire section of the policy (Material Damage).

Accounts Receivable

Fire sections cover business records only for cost of material lost. Accounts receivable provides further cover, but only for money that cannot be collected due to damage to accounting records.

Money Insurance

Loss or damage to business money as per limits and includes

• During business hours, in transit or on contract sites
  
• After business hours, in locked safe, and limited cover for money not in locked safe and at directors and employees home;
  
• Definition of money include cheques, credit card vouchers and other non-negotiable forms of payment
  

Business Insurance

Outlined below is a brief description of cover and terminology guide for your business insurance.

Glass Insurance

Covers accidental damage to external and internal glass(including mirrors),the only particular requirement being that any plain plate/float glass exceeding 6mm in thickness and laminated safety glass exceeding 6,5mm be specially mentioned.

Fidelity Guarantee Insurance

Covers an organisation against losses resulting from fraud and theft by employees.

Goods In Transit Insurance

Loss or damage to the whole or part of insured property in the course of transit.

Business All Risk Insurance

Covers loss or damage to the whole or part of the property insured whilst anywhere in the world. It would be uneconomic to insure all property on all risks basis so it is advisable to insure high-value items or mostly any portable items.

Accidental Damage Insurance

Covers loss or damage to insured property at or about the premises for events such as items being accidentally dropped, or damaged-covers similar to all risks but designed for a property that never leaves the premises and is an enrichment cover to a fire policy which does not cover accidental damage.

Public Liability Insurance

Covers insured organisation against legal liability to third parties for death or bodily injury to persons as well as accidental loss or damage to third-party property due to activities connected with the organisations' business.

Workers Compensation Insurance

Covers claims against the employer by any employee meeting with an accident or suffering from scheduled disease that results in such employee’s death, disablement, or resulting medical expenses whilst engaged in the service of the employer.

This cover is compulsory by legislation for all companies operating in Botswana.

Stated Benefits Insurance

Covers death or bodily injury caused by accidental violent external and visible means to any principal, partner, director or employee of the insured. The benefits are directly related to earnings e.g. 3x annual earnings. The defined events covered are Death, Permanent disability, temporary total disability, and medical expenses.

Personal Accident Insurance

Covers death or bodily injury caused by accidental violent external and visible means to any principal, partner, director or employee of the insured. The sums insured are specified per insured event e.g. Death P200 000.00. The defined events covered are Death, Permanent disability, temporary total disability and medical expenses.

Business Insurance

Outlined below is a brief description of cover and terminology guide for your business insurance.

Electronic Equipment Insurance

Covers physical loss or damage to electronic equipment/computers as specified in the schedule including costs and expenses incurred as a result of reconstitution or recompilation of data which would have been lost as a result of an insured event.

Motor Vehicle Insurance

Covers private and commercial type vehicles against (comprehensive cover)

• Damage to vehicle
  
• Theft of vehicle
  
• Liability to third parties P2 500 000.00
  
• Passengers liability not automatic but available at additional premium.
  
• Theft and third party cover or full third party cover can be purchased separately at reduced premium.
  

Motor Traders Insurance

Covers companies in the ‘’motor trade’’ industry against accidental damage to customer vehicles and sometimes the insured’s vehicles. Fire and theft to customer’s vehicles not covered under motor traders’ internal risks section but can be insured for under other sections of the Multimark policy on request.

Machine Breakdown

Covers Sudden and unforeseen physical damage from any cause not hereinafter excluded to any Machinery described in the Schedule, occurring at the premises and during the Period of Insurance, while such Machinery a is

• at work or at rest
  
• being dismantled for the purpose of cleaning, inspection, overhaul or removal to another position or in the course of these operations themselves or subsequent re-erection.
  

Other Insurance

Products

• Professional Indemnity
  
• Funeral Plans Insurance
  
• Whole Life Insurance
  
• Hospital Cash-back
  
• Other Insurances
  

Funeral Plan Insurance

Letsema Funeral Scheme

Our Clients

Letsema client portfolio is a mix of individuals, small scale business, medium sized corporate bodies and company as well as big corporations and parastatals. Our client base is regional.

Our Team

28 years experience as a senior manager in Commerce and finance in various organizations. Gobona is a Director of several companies and also a part time lecturer and tutor at the University of Botswana. Gobona is responsible for strategic direction and policy formulation of the company. He is also the founder and major shareholder of the company.

Nicholas Tamai has 26 years in insurance industry of which 15 years has been in underwriting and 11 years in Insurance broking. Nicholas was once a principal Officer for Nessel Insurance Agency before joining Letsema Insurance Brokers. Nicholas is responsible for the overall management and Administration of Letsema Insurance Brokers. Additionally, he is responsible for technical assistance on major accounts.

Other Support Staff

These include consultants, agents and general support staff.

Inquire Business Insurance

business@letsemainsurancebrokers.co.bw

Inquire Life Insurance

life@letsemainsurancebrokers.co.bw

Office Hours

Monday to Friday

8:00 am to 5:00 pm

Saturday

9:00 am to 12 noon

Closed on Sundays & Public Holidays