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Asset Survey Risk Specialists is a professional supplier of Independent Asset Surveys (Valuations) of Domestic Household contents, Security Assessment Reports, Commercial Asset Surveys and House Owner Inspections.

Anyone who has ever taken insurance will know, the best insurance is the kind that exactly and accurately protects your possessions – and which leaves you in no doubt as to what cover you have.

Statistics show that 84% of policyholders are underinsured on their householders by approximately 64%? What does this mean? If you were underinsured by 60%, in the event of a burglary or loss you may only receive 40% of your claimed amount. For example, if household contents are insured for R100 000 and there is a claim and the assessor determines that the actual value is R200 000, the insurer is only going to pay out 50% of the claim. The outcomes of average? The policyholder feels anger and resentment towards the insurance industry for have being “ripped off”!

Teacher uncovers insurance fraud
When south coast school teacher, widow Nonhlanhla Khawula, checked her payslip and found an unexplained deduction for R198.50, she was determined to get to the bottom of it.

And when she rechecked it, she found the deduction had been made by African Life, (now known as Sanlam Sky Solutions), a member of the Sanlam Group, for an insurance policy she had not authorised.

An insurance agent from Montclair, who used to work for African Life, had given a presentation at her school, the Mgai Primary School near Umzinto, in November, 2004, on behalf of Timir Financial Services, trading as Southern Investment Corporation.
· Michael Scholtz on October 15 2008 14:47:17 · Read More · 0 Comments · 18567 Reads · Print
Safety concerns halt rescue efforts
Safety concerns on Friday halted renewed efforts to find a worker believed to be trapped under the rubble of a collapsed building in Roodepoort, Johannesburg.

"The rescue mission has been temporarily halted," said emergency services spokesperson Percy Morokane.

"We were hindered by safety concerns because there are cracks in part of the building that is still standing."

Search efforts would resume on Saturday morning.

The worker, identified by The Star newspaper as 23-year-old Artur Magaizane, was believed to be buried under the three-storey building which collapsed on Thursday morning. One worker was killed and 14 injured.

Safety experts, a disaster response team and structural engineers were going back to the drawing board to establish how best to proceed, Morokane said.

Magaizane's relatives were at the site and an emergency services chaplain was available to counsel them.

Earlier on Friday Labour Minister Membathisi Mdladlana alleged that the employer had been aware of cracks in the building. He said the workers had complained about this but their employer insisted they continue working, according to The Star.

The building started shaking on Wednesday. Inspectors were called and labourers were instructed to continue working after the site was declared safe.

The labour department issued to the construction company, Dunehill Investments, a notice to stop work on the site until the department had finished its investigation.

Efforts to speak to the employer failed because he referred them to his lawyers, Mdladlana told the newspaper, and information had to be gleaned from an injured worker. - Sapa
· Michael Scholtz on October 21 2008 08:11:26 · Print
Arguing the finer points of policy exclusion clauses
Arguing the finer points of policy exclusion clauses

A recent Appeals Court decision in the United Kingdom, involving a disputed insurance claim by a company which had lost critical software source code through a series of malicious acts, serves as a wake-up call to all South African organisations who depend on computer programs to run their businesses.

The travails of Tektrol Limited, a UK provider of energy-saving control devices for industrial motors, are reported on the Out-Law website (www.out-law.com/page-5960).

· Michael Scholtz on October 15 2008 14:53:58
Read More · 0 Comments · 18767 Reads · Print

Did you hear the one about the frozen squirrel that fell out of a tree?
Sounds like the start of a hilarious joke right? Only the punch line is a bit
more serious - the squirrel actually crashed through the windscreen and onto the
passenger seat resulting in an insurance claim for the driver. This peculiar
situation topped the list of the strangest insurance claims received last year
by British insurance company, Norwich Union.

So bizarre were these claims, Auto & General Insurance decided to do a bit of
humour digging of their own to see how South African insurance claims compare.
Auto & General’s top five strange insurance claims are as follows:

  • A client collided with a buck. When asked if he hit the buck, he
    replied – I don’t know if I hit the buck or if the buck hit me - we were
    both running.”

  • All of a sudden the car jumped out of the ground and grabbed me, but
    a tree stopped it.

  • The client was driving at 04.30 in the morning, note is was still
    dark, he felt something soft and furry at his feet and freaked out, took his
    hands off the steering wheel and drove into a tree. The client then jumped
    out and is convinced he saw a cat jump out of his car!

  • The vehicle was parked in front of my home last night at about 19h00
    and my next door neighbours just saw the car starting to roll about 20
    meters down the mountain . It doesn’t look as if it’s drivable and it’s
    still stuck in the tree, and its in a 45 degree angle. I haven’t phoned
    anyone as yet…”

  • When I was about to pass the parked cars I could not see the horse
    but I heard a big bump and the car just went over the horse…” Insurance and
    humour do not usually go hand in hand but having spent 18 years in the
    short-term insurance industry, you come across some pretty out of the
    ordinary claim explanations. Whilst the claims on our top 5 list certainly
    hit the mark, my all time strangest claim that was submitted a few years
    back has to be when a client reported that he was admiring a lady in the
    next car, when all of a sudden an invisible” car crashed into his and then
    suddenly disappeared”. As they say, strange but true!” concludes Angelo
    Haggiyannes, director of Auto & General Insurance.

608 2967

· Michael Scholtz on October 15 2008 14:51:16
0 Comments · 13849 Reads · Print
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