Management of risk of any kind entails firstly the control of all possible physical aspects which may lead to risk and secondly provision (through for example an insurance policy), for the financial consequences of risks which can’t be controlled or prevented.

Safety at sea or on inland waters in terms of the seaworthiness of the vessel, the qualification of her crew, and an ability to respond quickly and professionally to emergency, constitute key elements of risk control relative to water related risks.

Insurance should not be viewed as a primary Risk Management tool but rather as a vital but secondary means of financing the result of the loss following failure of all reasonable loss prevention steps / methods.

This of course is especially true in the case of loss of life where no insurance product can ever provide adequate compensation.

Eikos Risk Applications is a provider of leading edge competitively priced insurance products for the whole range of smallcraft from Dabchicks and Rubberducks to Powercruisers and Charter Yachts based in International Waters.

Eikos is committed to contributing to the development of a safer boating environment and an increased level of awareness of the potential dangers for owners of pleasure craft and users of South Africa’s off shore and inland waters in general.

To this end Eikos have committed to ongoing support of safety at sea and of increased water awareness and education through sponsorship of the National Sea Rescue Institute.

"We are proud to be associated with the National Sea Rescue Institute and have undertaken to provide ongoing financial support to this internationally respected organisation and the volunteers that have made its proud record possible" says Victor Vaz, MD of Eikos Risk Applications (Pty) Ltd.

"For every rand of premium earned by the Eikos Smallcraft policies, a fixed percentage is donated to the N.S.R.I for use in the maintenance and development of stations, and to begin a programme of education and an awareness of safe water practice."

In November 2003 the "Eikos Port St John’s Rescuer" was launched and it is intended that this is the first of a number of "Eikos Rescuers" to be found on South African waters in time to come.

This stretch of coastline has until quite recently been unprotected from a Sea Rescue point of view and Eikos are pleased to be involved with the initiative to increase the Institute’s reach around the coast.

"We are also excited," adds Vaz "that this is considered the first ‘development’ NSRI Station in the country, and it has been a real eye opener to see how the black crew have responded with incredible enthusiasm and commitment to their responsibilities"