Page 48 - Claims Binders Mandates and Guidelines

Recoveries and Third Party Procedures
4.8 The binder holder must request the excess payment from the insured (if applicable) when instructed to do so by Hollard Insure. Payment of the section II should be made in 3 days in respect of a summons, otherwise in 7 days and proof of payment sent to Hollard. Hollard Insure will not defended a summons/ legal action without proof of section II payment.
4.9 Hollard will provide the binder holder with a signed copy of the agreement of loss or signed release.
4.10 The binder holder must provide Hollard Insure with proof of payments in respect of settlement payments made within three days of finalization of payments.
4.11 Payments in respect of attorney and other service providers must be finalized within five days from the date when Hollard Insure forwards invoices to the binder holder for payment.
4.12 The binder holder must pay the Section 8(8) vat to the insured where applicable
4.13 The binder holder must advise Hollard Insure that a claim is finalized and closed, within 2 days of all outstanding payments made.
5. NOTIFICATION OF A POTENTIAL THIRD PARTY CLAIM AGAINST THE CLAIMANT (if mandated to handle on behalf of Hollard Insure)
NOTE: An estimate for third party must be raised immediately where our claimant appears to be at fault. NO OWN DAMAGE EXISTS/NO OWN DAMAGE CLAIM SUBMITTED
5.1 If the claimant has notified the binder holder of a potential claim, even if no own damage exists, or damage is less than the applicable excess, check to see whether a valid claim document has been submitted and, if not, advise the claimant to submit a completed claim form and supporting documents (for example a driver’s license).
5.1.1 The incident MUST still be reported to the SAPS.
5.1.2 Even if there is no damage to the claimant's vehicle, the Section II excess is still payable and the claimant must be advised of this, at the initial notification of the claim.
5.1.3 Once liability has been admitted by Hollard Insure, the binder holder will be responsible for collecting this excess from the claimant.
5.2 On receipt of the claim form, the claims handler:
5.2.1 Opens a new claims file.
5.2.2 Places the following into the file:
5.2.2.1 a claims checklist
5.2.2.2 an action sheet
5.2.2.3 a printout of the claimant’s policy document details
5.2.2.4 all the necessary information and documents added to the claim
5.2.2.5 a note of any other relevant information gleaned from the conversation with the claimant (noted on the action sheet).
5.3 All terms and conditions apply, as if the claimant had suffered damage to the vehicle.
5.4 No further action must be taken until a third party claim is received from the third party, his insurers, or his attorneys.
5.5 If a third party contacts the binder holder/Hollard Insure and no claim has been lodged, refer the third party directly to the claimant.
NOTE: Refrain from accepting any liability for a claim until the claim has been duly processed and provided that the claim has not been rejected.
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Claims Binder Holders Mandates and Guidelines – V6: 2022