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How to deal with multiple community scheme insurance claims simultaneously.

There are a number of insured perils or risks that cause damage to multiple sections of a community scheme simultaneously when they occur. These perils most commonly comprise storm, wind, rain and water. With this in mind, it is important to understand some of the foundational principles of insurance – and in particular, community scheme | Read More

How to efficiently resolve building damage claims

Insurers typically assess insurance claims for damage to buildings based on information provided in the claim form and other supporting documentation. If this information is unclear, vague or ambiguous, questions may arise which could delay the process. Here are some tips and guidelines to assist with prompt and efficient claims processing and to avoid delays: | Read More

Email spoofing and the value of fidelity guarantee insurance

In terms of the current Community Schemes Ombud Service (CSOS) Act all community schemes are required to have sufficient fidelity guarantee insurance, including protection against incidents of cyber crime. While many of us take great care and precaution when processing online financial transactions, how many of us exercise similar care in the processing of our | Read More

The untold value of a community schemes insurance specialist

There are many insurance advisors who are licensed to provide intermediary services and advice to community schemes but only a handful who have the experience, knowledge and resources to properly advise and service community schemes. What distinguishes an experienced broker? The ideal community schemes advisor must have a comprehensive understanding of insurance requirements as set | Read More

Why you need the annual record of advice in writing

In terms of FAIS (Financial Advisory and Intermediary Services) legislation, an advisor or broker is obliged to deal with their client in accordance with the General Code of Conduct for Authorised Financial Services Providers and Representatives. Published under Board Notice 80 in Government Gazette 25299 of 8 August 2003 and as amended. Here is the | Read More