Page 40 - Personal Underwriting Mandates & Guidelines - Binder product rules & addendums - Version 1

1.6 Quotes:
1.5.2.1 make a separate listing of the claim on the catastrophe register.
1.5.2.2 provide Hollard with the follow-up information on a weekly basis as you progress through the claim and specifically when the claim has been finalised in order for the correct settlement amounts to be processed by Hollard (please note you have 3 (three) months from date of loss to advise Hollard of all your catastrophe claims).
1.6.1 Ask the insured to obtain quotes for items claimed. This will assist with correctly estimating the loss and understanding the type and make of item for which the client is claiming.
1.6.2 Quotes are generally a requirement on all claims for property loss and will be required to be placed on the claims file for audit purposes. There are various alternatives available to assist in quantifying a loss besides a written quote.
1.7 A loss adjuster's report MUST contain the following minimum information:
1.7.1 A detailed description of the value at risk, to establish whether the insured is adequately insured.
1.7.2 Details about the risk, for example address, construction of the house and roof, or any other material information about the risk.
1.7.3 Circumstances surrounding the loss. Does this correspond with the description on the claim form?
1.7.4 Description of the loss.
1.7.5 Recommendations regarding the validity of the loss in terms of the policy, i.e. was the loss as a result of an insured peril or not, or an event where the policy would respond.
1.7.6 Costing in terms of the claim. The loss adjuster has to confirm that the quote is fair and reasonable and is comprehensive.
1.7.7 Photographs depicting the loss for file purposes.
1.7.8 Remedial action to be taken by the insured should the claim be rejected.
1.7.9 Remedial action (if any) to be taken in order to prevent similar losses from occurring again in the future, i.e. installation of burglar bars. Ensure that these recommendations are sent through to underwriting for comment or re-underwriting of the risk.
1.7.10 Previous insurance check has to be done.
1.7.11 Dual insurance.
1.7.12 Description of any possible salvage.
1.7.13 Claims history check.
1.7.14 It is a requirement that Hollard building rates are applied.
Non-motor Claims Procedures
1.4.4 Provide the loss adjuster with the appropriate details of the loss as well as the details of your client.
1.4.4.1 It is most beneficial always to provide the loss adjuster with a copy of:
a. the policy wording applicable
b. policy schedule
c. proposal form.
1.5 The value of the claim should be taken into account with the circumstances of the incident. If subsidence and landslip or fire is suspected the value is irrelevant. Hollard needs to be advised to enable the correct loss adjuster or engineer to be appointed. The value of the claim will be determined by, however is not restricted to:
1.5.1 the nature of the claim.
1.5.2 if the claim forms a part of a catastrophe claim:
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Full Binder Claims Mandates and Guidelines – V3: 2019