addsureinsuranceguide.blogspot.com
Insurance Guide: Excesses (Page 23)
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Friday, January 1, 2010. The excess is the first amount payable in respect of claims made. This is the amount that the insured pays towards the loss, or by my definition, “the uninsured portion.”. Usually R500 to R1,000 for the basic excess. Geysers usually R1,000 with maximums where preferred plumbers not used. Higher excess if unit unoccupied for a period longer than 30 days. Higher excesses will apply to higher claimers. This aspect, ie managing claims ratio, deciding upon correct excess and negotiati...
addsureinsuranceguide.blogspot.com
Insurance Guide: Disclaimer and Copyright (Pages 38 - 40)
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Thursday, December 31, 2009. Andre De Waal, Managing Director CIA, and Wentzel Van Der Merwe, Claims Manager, CIA for editing, suggestions and ongoing input in insurance matters. http:/ www.cia.co.za/. Http:/ www.sto.co.za/. To the professional managing agents throughout South Africa who form the firm base on which the body corporate industry relies. PO Box 963 Milnerton 7435 Cape Town South Africa telephone 27 21 5515069 info@addsure.co.za. First published in 2005. Second Edition published in 2008.
addsureinsuranceguide.blogspot.com
Insurance Guide: Geyser Cover (Pages 35 - 36)
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Friday, January 1, 2010. Geyser Cover (Pages 35 - 36). Hot Water Cylinders / geysers form part of the building. If damaged by one of the events defined, that hot water cylinder is covered. We all know that geysers rarely, if ever, burst! They “pack up” and when this happens and there is no drip tray, quite a bit of damage can result! Geyser / Hot Water cylinder replacement and resulting damage from leaking cylinders have more recently been identified as the largest claims cost driver by far. We predi...
addsureinsuranceguide.blogspot.com
Insurance Guide: Schedule of Replacement Values (Pages 27 - 30)
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Friday, January 1, 2010. Schedule of Replacement Values (Pages 27 - 30). Equipped with the valuation, the trustees should now be able to determine the various elements and account for additions such as covered balconies, swimming pools, wendy houses etc. It is also important to be able to split these and other common areas from individual units. Before every annual general meeting, the Trustees must ensure that insurance. Any owner, who feels that their unit is under-insured, may at any time and by.
addsureinsuranceguide.blogspot.com
Insurance Guide: Dealing with insurance at the A.G.M. (Pages 31 - 33)
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Friday, January 1, 2010. Dealing with insurance at the A.G.M. (Pages 31 - 33). Owners need to understand the schedule of replacement values as described and dealt with above and we feel that trustees and managing agents need to present the schedule to owners in an informative yet simple way. Owners need to account for their additional expensive fitted kitchens, undertile heating, air-conditioning units, expensive flooring etc. when considering their section’s sum insured. After this information is provid...
addsureinsuranceguide.blogspot.com
Insurance Guide: Wider Cover under Sectional Title Policy (Pages 16 - 21)
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Saturday, January 2, 2010. Wider Cover under Sectional Title Policy (Pages 16 - 21). In addition to the above defined events, some examples of the additional cover under the buildings section includes:. Accidental damage to public supply connections between the property insured (or for which the insured is legally responsible) and the public supply or mains. Loss of rent – usually caused by the above defined events. Architects and other professional fees. Cost of demolition and clearing. This additional ...
addsureinsuranceguide.blogspot.com
Insurance Guide: What Trustees Need To Insure Against (Pages 5 -9)
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Saturday, January 2, 2010. What Trustees Need To Insure Against (Pages 5 -9). Of the Act sets out functions of the body corporate. Some of these pertaining to the insurance aspect are set out below and include:. To insure the building or buildings and keep it or them insured to the replacement value thereof against fire and such other risks as may be prescribed;. To insure against such other risks as the owners may by special resolution determine;. I) fire, lightning and explosion;. Ii) riot, civil commo...
connectarealty.blogspot.com
Connecta Realty: February 2009
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Friday, February 27, 2009. QUORUMS AND THE VALUE OF VOTES - PROPOSED CHANGES TO PRESCRIBED MANAGEMENT RULES 53, 57 AND 64. 8220;Forget the past! Can you see any washing on my balcony now? The only time I have seen bondholders attend a general meeting and exercise their right to vote on behalf of owners is where the scheme overall is in financial trouble, never where a particular owner is hit by the provisions of PMR 64. Of the quotas of] all sections or by any mortgagee holding mortgage bonds over not le...
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