Warehouses and fire risk

Modern warehouses can have complicated configurations which can allow for fires to spread rapidly, making manual firefighting efforts more difficult. These fires regularly result in major damages and losses, not only to the buildings but also stock losses and resultant financial loss (profit). Storage areas can be large and include extensive shelving, block storage, bulk | Read More

Storm season is coming. Are you prepared?

Over the last few years, the storms see to be intensifying across the country, causing increasing degrees of property damage each year. While severe storms do occur from time to time, it appears they are occurring more frequently. Correspondingly, the insurance industry is seeing an increase in the settlement of storm related claims, both in | Read More

Regulations that property owners need to comply with.

All insurance claims for damage to buildings are assessed by the insurer. Where any material breach of legislation or regulations with regard to construction, maintenance and safety of the buildings are found, the insurer is entitled to reject such claims. Here are some relevant regulations that must be adhered to: National Building Regulations These regulations | Read More

Claiming for damage to fitted carpets

Permanently fitted carpets are insured as part of an insured building. This means that it is insured against damage caused by sudden and unforeseen flooding events such as burst pips, burst geysers, accidental bath overflows, storm or rainwater and sewerage overflows.  What is not covered is damage resulting from a gradual event caused over an | Read More

Unpacking replacement cost valuation figures

In line with sectional title prescribed rules, the replacement cost valuation needs to be undertaken at least every three years. Usually, this involves updating the policy as soon as possible thereafter, either adjusting the buildings sum insured upwards or downwards. In a previous blog, we explained inflation and touched on the way a policy is | Read More