Page 32 - Personal Underwriting Mandates & Guidelines - Binder product rules & addendums - Version 1

Motor Claims Procedures
8. MAINTENANCE OF MOTOR SALVAGE REGISTER
8.1 Each broker will maintain a separate register for salvage.
8.1.1 The Salvage Register shall be used to record all written-off and economical to repair vehicles for salvage.
8.1.1.1 As soon as the broker becomes aware of a write-off, the details must immediately be recorded in the Salvage Register under the schedule headings.
8.1.1.2 If the vehicle is abandoned and has no value it must be noted in the register and authorised by Hollard. The vehicle must be deregistered.
8.1.1.3 A vehicle may only be disposed of or stripped once Hollard has taken lawful possession of the vehicle and fully disposed of the vehicle to the relevant salvage contractor.
8.1.1.4 Deregistration/registration papers must be obtained, depending on the state of the vehicle.
8.1.1.5 Receipt of monies must be recorded in Hollard’s Receipt Book and deposited into the Claims account.
8.2 The responsibility lies with the broker for ensuring that the Salvage Register is:
8.2.1 kept up to date and balanced
8.2.2 that vehicles are disposed of in accordance with prescribed procedures
8.2.3 that all monies due to Hollard are collected.
NOTE: No staff may tender on salvage WHATSOEVER.
8.3
Motor Salvage
Hollard is a signatory to the South African Insurance Association Code of Salvage Management and have as such established an in-house Salvage Management Team to fulfil the following functions:
8.3.1 Upliftments – Advanced system development on the Audatex assessing platform has resulted in this team being notified immediately on a decision by the assessor to write the vehicle off. Pending the broker's salvage dealer, the team will then immediately give instructions to uplift the vehicle. This is critical in controlling release fees. Brokers will be notified of the upliftment instruction.
In the event that the claim is rejected, salvage providers charge for the tow and any release fees paid on behalf of the broker/Hollard as well as storage fees when not uplifted within 5 (five) to 14 (fourteen) days depending on the SLA in place after notification of rejection. If the vehicle has to be towed back there will be a further towing fee charged by both salvage dealers to either the insured or broker whoever will be liable for the charges as notified by the broker.
8.3.2 Settlement documentation and Registration Document Management – Brokers are required to complete a template authorising the Hollard Internal Team to request settlement and original registration documentation on behalf of the broker from the banks in the event that the vehicle is subjected to a finance arrangement with a bank. The bank is to be paid before the original papers will be released.
Brokers are requested not to settle claims where the vehicle is paid off or has been purchased for cash, unless the insured provides the original registration documents to the broker.
8.3.3 Stock in Bond Management – Such management ensures that the turnaround time from the vehicle being written-off to sale or salvage money received, is limited to less than 40 (forty) days in order to minimise the loss of salvage income due to depreciation. The Hollard Salvage team will work with your claims team in managing your Hollard bonded vehicles.
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Full Binder Claims Mandates and Guidelines – V3: 2019