Woodworking Risk Acceptances is a niche underwriting agency catering for the more hazardous industrial type risk.
WRA offers a comprehensive policy catering for all the insurance needs of clients in our niche areas of business. We offer our product to clients involved in the Woodworking, Plastic and Metalworking industries. We have also developed a product to cater for the retail activities of clients trading in the goods produced in these areas. We offer these products to clients through most commercial insurance brokers and are constantly growing our broker network.We underwrite our business through Compass Insurance Company Limited and our reinsurance treaty is led by Hannover Reinsurance Company Limited. This allows us to offer A+ rated capacity to our clients.
The Company was founded in 2001 following a thought that the short term insurance industry needed an insurer who wasn’t adverse to underwrite high fire load woodworking risks. The office was opened in Pietermaritzburg, one of the major wood industry areas in South Africa.
At the outset the strategy was thus to underwrite only woodworking risks .This was done very successfully for a number of years. The company developed a national footprint, opening branches in Johannesburg and Cape Town.
WRA then decided that it was necessary to diversify into other products. We began to underwrite business in the plastics industry in 2007 and expanded into the metalworking and related industries in 2009.
WRA appreciates all the broker support we have received throughout our journey and hope to continue developing and improving our products, backed by great service and secure paper.
FSP No: 8146