Page 31 - Personal Underwriting Mandates & Guidelines - Binder product rules & addendums - Version 1

Motor Claims Procedures
8.8 Upon receipt of the documents requested in the above prepare the Agreement of Loss for authorisa on by the authorised signatory, unless the claim is over mandate, then Hollard will authorise accordingly.
8.9 On receipt of the original deregistra on cer cate, we rst se le the bank (HP), then once the signed Agreement of Loss is received, arrange to conclude se lement to the Insured and nalise transac on with salvage contractor.
8.10 The Broker con nually monitors the payments from the salvage contractor and, on receipt of the payment, the Broker carries out the procedure for receipt of monies from a debtor, back into the claims account.
8.11 Upon comple on of all the above:
8.11.1 update the Salvage Register and ensure that all the informa on is recorded;
8.11.2 print out the hard copy of the claims printout and arrange for the le to be nalised.
The Salvage Register must be submi ed to Hollard monthly for sign-o and the salvage amounts must be indicated.
NOTE: NO SETTLEMENT CAN BE DONE WITHOUT THE ORIGINAL DOCUMENTS. 9. MAINTENANCE OF SALVAGE REGISTER
9.1 Each Broker will maintain a separate register for salvage.
9.1.1 The Salvage Register shall be used to record all wri en-o vehicles for salvage.
9.1.1.1 As soon as the Broker becomes aware of a write-o , the details must immediately be recorded in the Salvage Register under the schedule headings.
9.1.1.2 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.
9.1.1.3 Vehicles may only be disposed of or stripped once Hollard have taken lawful possession of the vehicle and legally and fully disposed of the vehicle to the relevant salvage contractor.
9.1.1.4 Deregistra on/registra on papers must be obtained.
9.1.1.5 On a monthly basis, a copy of the Salvage Register must be given to Hollard.
9.1.1.6 Receipt of monies must be recorded in Hollard's Receipt Book and deposited into the Claims account.
9.2 The responsibility lies with the Broker for ensuring that the Salvage Register is:
9.2.1 kept up to date and balanced;
9.2.2 that vehicles are disposed of in accordance with prescribed procedures; and
9.2.3 that all monies due to Hollard are collected.
NOTE: No sta may tender on salvage WHATSOEVER. 10. STOLEN/HIJACKED VEHICLE
10.1 As soon as you are no ed of a stolen/hijacked vehicle claim:
10.1.1 Complete the stolen vehicle data entry form and send it to Hollard within 48 (forty eight) hours.
10.2 As soon as you are no ed of a stolen/hijacked vehicle claim and received all the relevant documents:
10.2.1 Appoint an inves gator to determine the merits – irrespec ve of the quantum.
10.2.2 If the claim is over mandate, before the excesses are deducted, please refer the en re le to Hollard for authorisa on.
10.2.3 If all is in order, proceed to se le the claim.
10.2.4 The original registra on documents and keys need to be sent to Hollard for safekeeping.
Binder Claims Mandates and Guidelines – 2015/2016 Page | 29