DISCLOSURE NOTICE TO SHORT-TERM INSURANCE POLICYHOLDERS
IMPORTANT - PLEASE READ CAREFULLY
(This notice does not form part of the insurance contract or any other
document)
Your insurance
product involves two companies performing different functions:
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The insurance
broker:
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In addition to
acting as your agent and selling the product to you, this company has been granted
authority by the insurer to conduct certain transactions (for example:
acceptance of risk, determining your premiums and settling your claims) on
the insurer’s behalf.
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The insurer:
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This is the
insurance company that ultimately receives your premiums and is liable for
claims.
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The details of these
companies and what they do is set out below.
PARTICULARS OF YOUR
INSURANCE BROKER
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Business Name
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CC&A INSURANCE
BROKERS (PTY) LTD
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Physical Address
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1 OLD MAIN ROAD,
KLOOF, 3610
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Postal Address
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1 OLD MAIN ROAD,
KLOOF, 3610
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Telephone Number
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(031) 716-6000
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E-mail Address
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info@ccainsurance.co.za
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Website
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www.ccainsurance.co.za
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YOUR INSURANCE
BROKER IS AUTHORISED TO PROVIDE FINANCIAL SERVICES IN RESPECT OF SHORT- TERM
PERSONAL LINES AND COMMERCIAL LINES PRODUCTS
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License Number
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13960
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YOUR INSURANCE
BROKER HAS THE FOLLOWING INSURANCE IN PLACE WHICH PROVIDES PROTECTION TO
CLIENTS
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Professional
Indemnity
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R30,000,000
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Fidelity Guarantee
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R20,000,000
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Directors &
Officers Liability
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R20,000,000
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SHOULD YOU HAVE A
CLAIM AGAINST YOUR POLICY, PLEASE NOTE THE FOLLOWING:
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(a) Procedures for
the submission of claims are detailed in the policy wording.
(b) You may contact
the insurance broker’s claims department at the above address or by telephone
on (031) 716-6000 for assistance.
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COMPLAINTS
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If you would like to lodge a formal complaint with your insurance
broker, please write to:
CC&A Insurance Brokers
Complaints Officer
Lee Gouws
Email: leeg@ccainsurance.co.za
Website: www.ccainsurance.co.za
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If you would like
to lodge a formal complaint regarding your insurer or your broker, please refer
to your policy wording for details of your insurer’s complaints department.
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If you get no
response or you are dissatisfied with the outcome of your complaint, you may
approach the FAIS Ombud or Short-term Ombudsman, details of which appear
below.
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THE OMBUDSMAN FOR
SHORT-TERM INSURANCE
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THE FAIS OMBUD
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Physical Address
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Sunnyside Office
Park, 5th Floor, Building D, 32 Princess of Wales Terrace,
Parktown
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Physical Address
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Eastwood Office
Park, Baobab House, Ground Floor, Cnr. Lynnwood Road & Jacobson Drive, Lynnwood
Ridge, 0081
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Postal Address
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P O Box 32334,
Braamfontein, 2017
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Postal Address
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P O Box 74571,
Lynnwood Ridge, 0040
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Telephone Number
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(0860) 726-890 / (011)
726-5501
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Telephone Number
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(012) 470-9080
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Fax Number
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(011) 726-5501
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Fax Number
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(012) 348-3447
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E-mail Address
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info@osti.co.za
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E-mail Address
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info@faisombud.co.za
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Website
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www.osti.co.za
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Website
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www.faisombud.co.za
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YOUR SPECIAL RISKS
INSURER
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Name
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SASRIA Limited FSP
Number 39117
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Physical Address
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36 Fricker Rd,
Illovo, Sandton, 2196
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Postal Address
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P O Box 653367,
Benmore, 2010
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Telephone Number
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(0861) 727-742 /
(011) 214-0800
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Fax Number
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(0861) 727-329 /
(011) 447-8630
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Website
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www.sasria.co.za
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Claims Procedure
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In the event of a
special risks claim, all relevant documentation relating to your claim must
be submitted to your broker.
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Compliance Officer
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Mrs Nomsa Mazibuko,
E-mail address: nomsa@sasria.co.za
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Complaints E-mail
Address
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complaints@sasria.co.za
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COMMISSION, BINDER
AND CONFLICT OF INTEREST DISCLOSURE
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Malcanter
Holdings (Pty) Ltd, owns 80% of the shares in your broker. Hollard Insurance
Company Limited owns 35% of the shares in Malcanter Holdings (Pty) Ltd. A
Hollard employee sits on the board of Malcanter Holdings (Pty) Ltd as a
non-executive director.
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Your broker
receives a commission from your insurer. The levels of commission vary
depending upon the product type. The exact amounts are disclosed in your
policy schedule. In addition, your broker may charge you a broker / policy
fee which will also be shown on your policy schedule.
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Your broker may
also be paid a binder fee which is calculated to be a percentage of the gross
written premium it places with your insurer. The percentage payable will also
be shown on your policy schedule.
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BINDER DISCLOSURE
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CC&A Insurance
Brokers (Pty) Ltd acts as a binder holder, and has a signed binder agreement
to this effect with the following insurers:
·
The Hollard Insurance Company Limited
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In terms of these
agreements, the binder holder may:
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1) enter into, vary
and renew policies;
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2) determine the
premiums;
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3) determine policy
benefits; and
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4) settle all valid
claims. The binder holder may not reject claims, nor may it cancel policies.
This may only be done by the insurer.
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OUTSOURCING
DISCLOSURE
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CC&A Insurance
Brokers (Pty) LtD performs various administrative tasks on behalf of the
following insurers
·
Mutual & Federal
·
Santam Limited
·
AIG SA Limited
·
Constantia Insurance Company Limited
·
Etana Insurance Company Limited
·
Zurich Insurance Company South Africa Limited
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Your broker may
also be paid an administration outsourcing fee which is calculated to be a
percentage of the gross written premium it places with your insurer. The
percentage payable will also be shown on your policy schedule.
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OTHER KEY CONFLICT
OF INTEREST DISCLOSURES
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Relating to your
broker:
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Does your broker
have a shareholding in any insurer?
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NO
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Does your broker
receive more than 30% of their income from any insurer?
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YES *
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Does your broker
have a relationship with any insurer that provides a financial interest other
than ownership?
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NO
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Does your broker
have a relationship with any other broker that provides an ownership or
financial interest?
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YES **
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Does your broker
have a relationship with any distribution channel that provides an ownership,
financial interest or support service?
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NO
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Does your broker
have a relationship with any other person that provides an ownership or
financial interest?
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NO
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Any combination of
these relationships and/or ownership or financial interests may present a
potential conflict and as such we need to ensure you are aware of these.
A full copy of your
broker’s conflict of interest management policy can be obtained from:
i)
Your broker’s offices upon written request to info@ccainsurance.co.za
ii)
Your broker’s website www.ccainsurance.co.za
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DISCLOSURE OF
PREMIUMS AND FEES
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All premium
obligations and fees are disclosed in your policy schedule.
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MANNER OF PAYMENT
OF PREMIUM, DUE DATE AND CONSEQUENCE OF NON PAYMENT
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Please refer to
your policy wording for details regarding premium payment, due dates of
payment and consequences of non payment.
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OTHER MATTERS OF
IMPORTANCE
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(a) You must be informed of any material changes to the information
provided above.
(b) If the information above was given to you verbally, it must be
confirmed in writing within 30 days.
(c) If any complaint to the broker or insurer is not resolved to your
satisfaction, you may submit a complaint to the Short-Term Insurance
Ombudsman or the FAIS Ombud, depending on the nature of the complaint.
(d) A polygraph or any lie detector test is not obligatory in the
event of a claim and the failure thereof may not be the sole reason for
repudiating the claim.
(e) All material facts must be accurately and properly disclosed, and
the accuracy and completeness of all answers, statements or other information
provided by or on your behalf remains your own responsibility.
(f) You must on request be supplied with a copy or written or printed
record of any transaction requirement within a reasonable time.
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WARNING
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·
Do not sign any blank or partially completed application form.
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Complete all forms in ink.
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Keep all documents handed to you.
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Make note as to what is said to you.
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Don't be pressurised to buy the product.
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Incorrect or non-disclosure by you of relevant facts may influence an
insurer on any claims arising from your contract of insurance.
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SPECIAL NOTES
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* - More than 30%
of your broker’s income is derived from The Hollard Insurance Company Limited.
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** - Malcanter Holdings (Pty) Ltd is also a shareholder in CC&A Anderson
Insurance Brokers (Pty) Ltd. CC&A Insurance Brokers (Pty) Ltd is also a
shareholder in CC&A Truck and Transport Insurance Brokers (Pty) Ltd. | |
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