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Inception Value Policy : New for Old on all vehicles

Inception Value Policy : New for Old on all vehicles

INCEPTION VALUE POLICY NEW FOR OLD FOR ALL VEHICLES, INCLUDING CREDIT SHORTFALL We all know that vehicles depreciate in value over time and that in the event of a total loss (accident, theft or hijack) it can be difficult to afford a suitable replacement vehicle. Comprehensive insurance policies generally pay out the current retail value of your car, as at the time of a total loss. This implies that as your car ages, it depreciates in value and you will get less and less money over time. This unique product will enable your clients to claim the value of their vehicle (at inception of the policy) as opposed to the current retail value of the vehicle at the time of a total loss. IVP therefore            Provides cover against vehicle depreciation for            all vehicles, of any age used for            domestic, commercial and tax purposes whether            financed or not with            credit shortfall included free of charge (for finances vehicles) creating            increasing embedded benefits for clients over time HOW ARE CLAIMS SETTLED  The Insurer (RENASA) will pay the financial institution the greater of            the outstanding balance the client owes as at the time of the loss or            the retail value as at the inception date of the policy less (minus)            the retail value as at the time of the loss, less any excesses payable in terms of  the policy thus encouraging client retention   Insurer : RENASA Insurance Company...
Guardian Angel Motorcycle Insurance

Guardian Angel Motorcycle Insurance

GUARDIAN ANGEL MOTORCYCLE INSURANCE EASY, AFFORDABLE COMPREHENSIVE COVER We are excited to bring you a new first class policy to the biker market in South Africa. WHAT IS COVERED LOSS OR DAMAGE This policy will cover loss or damage to the listed motorcycle/trailer, including the specified accessories, up to a maximum of the sum insured or the suggested retail value whichever is the lower amount. The evaluation of damage and the decision to replace or repair will be at the discretion of the insurer or their agent. TOWING COSTS The reasonable costs up to R 5 000 for the transportation of the damaged vehicle to the nearest approved facility for repair. WRECKAGE REMOVAL The reasonable costs up to R 5 000 of the sum insured in respect of the cleaning up and removal of debris and wreckage from the insured vehicle after an accident covered in terms of the policy. LOSS OF KEYS In the case of lost or damaged keys, this policy will cover the reasonable costs of replacing keys, locks, programming of any coded alarm system and a single remote alarm controller up to R 5 000. ALL RISK ITEMS This policy will cover loss or damage to riding gear and/or additional items specified on the attached schedule. USE ON TRACKS (SUBJECT TO PRE-APPROVAL) Cover may be extended for use on track days when riding under instruction at an approved motorcycle riding academy. This cover excludes any third party liability. THIRD PARTY LIABILITY Under this policy, the insurer will indemnify up to R 1 250 000 for all sums including claimant’s costs and expenses for legal liabilities arising...
Plant All Risks

Plant All Risks

Plant All Risks This policy covers you on an “All Risk” basis for the loss of or damage to construction plant and equipment from any cause while the plant is stored, in transit between or on the contract site, demonstrations and while being used as a tool of trade. Plant all risks can be insured on Market Value, New Replacement value or Agreed value. The Policy includes the following extensions: Plant hired in Plant hired out Continuing hire charges Public liability when used as a tool of trade Policy Exclusions Explosions Wear and tear Tandem lifting Electrical and mechanical breakdown Insured through New National Assurance...
Occupational Health and Safety Insurance

Occupational Health and Safety Insurance

Occupational Health and Safety Insurance The Construction Regulations (2014) effective from February 2014, under the Occupational Health and Safety Act (No 85 of 1993 Act) state that “If a worker is injured on site the owner, property manager and contractor could be held liable for failure to comply with the legislation. “If you are already undertaking, or are going to undertake maintenance, alterations, extensions, buildings or demolition work on one of your buildings then the Occupational Health and Safety Act will apply to you. The regulations specify that property owners must appoint only qualified and competent contractors to perform the work safely and must provide anyone working on the premises with, amongst other things: Instructions and adequate resources for the work to be done safely Identification of any hazards on the property and reduce risks attached to those hazards A health and safety file with information required to safely perform the job What type of buildings are affected?  These regulations apply to all buildings: including multi-storey residential, sectional title residential, industrial and offices. How do owners protect themselves?  A prudent safeguard is to obtain insurance. This Occupational Health and Safety Insurance (OHSI) product aimed at protecting property owners, property-owning companies, body corporate owners and trustees associated with this new legislation. This fix-all policy includes public liability, professional indemnity and director’s and officers liability. More importantly, should a claim be received, the insurer will take over the process and represent the owner or managing agent in court. This also covers the legal defence costs associated with these actions. How are the risks recorded? The starting point is for building owners...
Contractors All Risks & Contractors Liability Insurance

Contractors All Risks & Contractors Liability Insurance

Contractors All Risks & Contractors Liability Insurance   Genlib now has the capacity to write Engineering risks, such as Contractors All Risks policies. The Contract Works policy is a comprehensive one, with many possibilities, and cover is against accidental loss of, or damage to the “works” under construction. Extensions automatically included :- Claims Preparation Costs Debris Removal Emergency Medical Expenses (including Staff) Lateral Support Own surrounding property Professional Fees Tools and Equipment on site Automatic Extension of Contract Extension period at No Charge Spread of Fire Liability Theft : limited to R 50 000 any once incident, subject to Security Guards on Site Transit & Off-Site Storage : R 500 000 any one incident Insured through AC&E Underwriting Managers (Pty) Ltd (a division of New National Assurance...