Page 14 - Personal Underwriting Mandates & Guidelines - Binder product rules & addendums - Version 1

General Procedures
9. CATASTROPHE (CAT) CLAIMS
In the event of a major event giving rise to a large amount of claims being submitted for the insured perils of fire, storm, hail, flood, etc., a register of the individual claims has to be completed for reinsurance purposes. This will apply to any single event exceeding R1 000 000 (one million rand) or in the event of any single event resulting in more than 10 (ten) claims being registered.
9.1 Hollard’s main objectives in its initial response to all emergencies are:
9.1.1 to protect human life and alleviate suffering, and, as far as possible, protect property and reputation
9.1.2 to support the continuity of everyday activity and the restoration of disrupted services at the earliest possible time
9.1.3 to communicate the claims philosophy and strategy to all stakeholders.
9.2 The Catastrophe Management Plan supports these objectives by providing a clear and organised response strategy supported by pre-defined response procedures.
During the initial response Hollard will:
9.2.1 assess the nature and severity of the incident
9.2.2 decide an appropriate response
9.2.3 identify loss adjusting services
9.2.4 identify experts (engineers, quantify surveyors)
9.2.5 Initiate appropriate actions by senior management, partners and staff.
A catastrophe (CAT) code will be provided to log against each incident. Each claim must have an exact location/ physical address recorded for reinsurance purposes.
During the first 2 (two) weeks daily updates must be provided in the required reporting format. Estimates and statuses must reflect against each claim in order to closely and accurately track and report potential CAT losses.
Thereafter, updates are required every 2 (two) weeks and reports must be provided twice a week (Monday and Thursday) with updated statuses and estimates.
9.3 Sasria Process
Branch name
Broker
Insured
Number motor
Number non- motor
Motor estimate
Non- motor estimate
Loss adjuster appointed
Area
Status
9.3.1 9.3.2
The insured must notify the broker of the claim within 30 days from the date of loss.
Notification with attached documentation need to be mailed to sasriaclaims@hollard.co.za. The following documentation is required:
Documents to be forwarded to Sasria
Sent
Broker/Client to send to Hollard
Claim form/detailed claim notification in a PDF format
Photographs
Full copy of the policy schedule
Detailed breakdown of confirmation of premium to Sasria as at the date of loss
Confirmation of premium to the broker and Hollard
At least 2 (two) quotations for repair/replacement
Confirmation of the riot
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Full Binder Claims Mandates and Guidelines – V3: 2019