Page 33 - Personal Underwriting Mandates & Guidelines - Binder product rules & addendums - Version 1

Motor Claims Procedures
Recovered vehicles may be disposed of or stripped only once Hollard has taken lawful possession of the vehicle and in accordance with the terms and condi ons of the policy. This means that the salvage contractor can sell the vehicle only once the claim has been paid AND we have provided the salvage contractor with original cancelled deregistra on paper. If a claim is rejected – advise the Insured to upli the vehicle and also advise the salvage contractor that we are no longer liable for storage.
Each Broker will lay down a speci c process for disposing of recovered vehicles in his/her area.
On a monthly basis, the stolen vehicles register must be physically compared with Hollard's.
Receipt of monies must be recorded and deposited into Hollard's Claims account. In the event that a recovered vehicle is salvaged, all condi ons as per the salvage contract/s must be adhered to and monitored on a monthly basis by the Broker.
Binder Claims Mandates and Guidelines – 2015/2016 Page | 31