Page 30 - Personal Underwriting Mandates & Guidelines - Binder Addendums - Version 3

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Personal Underwriting Mandates & Guidelines – Binder Addendums – Version 3
Addendum C: Hollard’s Approved Asset Inventory Service Providers
Contents Asset Inventory Survey Process
Process Responsible
person
Actions Important info/docs/
correspondence/comments
Asset Inventory
Service Provider
finalises the asset
inventory
Asset Inventory
provider
The SP will send the completed
asset inventory and domestic
risk survey to the broker within
ten working days of conducting
the services. The client will be
requested to contact the SP with
any required corrections within
30 days of receipt of the asset
inventory.
•
The SP will amend the asset
inventory and valuation
reports in accordance with
any corrections agreed with
the client and forward the
amended reports to the broker
within three working days of
agreeing amendments with the
client.
•
The integrity of the valuation
must however not be
compromised by corrections
requested by the client. Any
concerns must be reported
directly to the broker.
The Asset Inventory
Service Provider
provides the finalised
report and invoice
Asset Inventory
Provider
Once completed, the asset
inventory SP sends the report and
invoice to the broker and copies in
the relevant BDM/BC.
The SP will provide a detailed/
comprehensive Asset survey report
in respect of the valuations. The
SP must also provide any valuation
certificates, plans, sketches,
drawings or photographs drafted or
obtained during the survey.
The Broker sends the
report and invoice to
Hollard for payment
Binder Broker The BDM/BC requests a copy of
the report, summary schedule
reflecting the average waiver
premium and the invoice from the
broker to process the payment.
The invoice usually includes the
following:
•
Details of the client’s policy
number, name and surname
•
The client’s address
•
The date of which the survey
was concluded
•
Type of survey concluded
•
The updated inventory
•
The cost of evaluation
•
The cost of travel if outside of
50km radius
•
The requesting broker name