Cover for security guard services

Costs to cover security guards are viewed as a consequential loss; therefore, it is not automatically included in all policies. Most insurance policies include additional benefit extensions, providing damage cover to the insured buildings. This benefit extension – if provided by your policy-  is usually limited to an amount between R5,000 and R10,000 per damages | Read More

What recourse do you have when your claim is rejected?

In a previous blog, we dealt with claim rejections in some detail. We stated: Where the body corporate agrees with the rejection and the owner disagrees, the trustee’s decision will stand as they are mandated to represent and attend to the claims for the insured. If an owner disagrees and is in dispute with the | Read More

Community schemes and heritage buildings

Usually, bodies corporate rely on valuers to provide them with building replacement value. However, trustees and insurance advisors need to be aware that sometimes heritage buildings are not declared upfront – by mistake. Recently, one of our clients – an experienced and professional managing agent client – noticed that a professional replacement cost valuation for | Read More

Sectional title insurance and the value of regular valuations

Since 2016, Prescribed Management Rules require a building valuation to be done at least every three years.  In addition, these rules also require that such valuations be tabled at the Annual General Meeting. Our interpretation of these rules is that a copy of the actual valuation should always be within reach at the AGM. Once | Read More

Insurance representation: What does a Letter of Authority mean?

Better the devil you know (than the devil you don’t). This old adage suggests that dealing with someone familiar is sometimes easier – while it may not be the best option – than dealing with someone you do not know that might be worse. While this is sometimes true, other times it may result in | Read More