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JANUARY 2011
2011 has arrived and with it the promise of more good things that hopefully will outdo those of 2010 and all the excitement it brought to South Africa and will see BnB SURE, with the help of our brokers, reach our goals.
One change in BnB SURE that will assist us in this is the appointment of Lana Mizen as Executive Director of the company. A well deserved appointment and we wish Lana well in her new role. Lana joined BnB SURE on her return from living in the United States in 2004 and has risen through the ranks to Marketing Manager, General Manager Marketing and General Manager prior to her appointment as Executive Director.
Our full management structure can be found in www.bnbsure.co.za
DIRECT INSURERS
We were extremely disappointed to hear during December that a potential policyholder had been told by a direct insurer from whom he also decided to get a quote, that if he accepted their quote the cover is immediate whereas other insurers require a waiting period of between 3 & 6 months before the cover becomes effective which of course is completely untrue. We find this sort of thing to be in extremely bad taste apart from being dishonest and we feel that brokers should be aware of this.
PORTFOLIO ADMINISTRATORS
BnB SURE has always operated on the basis of a "Portfolio Administrator" rather than to have a claims department and underwriting department. The reason we have Portfolio Administrators (PA's) is so that brokers have one point of contact. Brokers should establish who their PA is and direct all correspondence to that PA. Brokers do at all times have access to the Regional manager responsible for the branch.
GENERAL CONDITION 6c
It is now a legal requirement that General Condition 6c of our policy be changed to allow the insured an additional 30 days in which to make representation to Insurers in the event of a claim being rejected and as a result the following clause will replace General Condition 6c.
We will be sending the required notification out to brokers giving notice of this change in the next week.
General Condition 6c of the policy is amended to read:
No claim shall be payable unless the Insured appeals to the Company to reverse its decision within 90 (ninety) days of the rejection of the claim in writing. In the event of a further rejection of the claim in writing during the 90 (ninety) day period, legal process must be served on the Company within an additional 6 (six) months of expiry of the 90 (ninety days) (or as amended by legislation from time to time) from original rejection and such proceedings must be pursued to finality.
ROAD ACCIDENT FUND AMENDMENT ACT
We mentioned in our December "From the Breakfast Table" that we would have details of the entire situation in this newsletter. The problem is that it is a fairly lengthy comment so as a result we are compiling all the details which will appear on our website shortly. We apologise for any inconvenience this may have caused.
POLICY WORDINGS
We fully understand the problems facing brokers with a multiplicity of policy wordings they face daily so for this reason we have our EPW (Electronic Policy Wording) which can be available to brokers as an icon on their computers making our wording just a click of a mouse away. To receive our EPW simply ask your BnB SURE branch who will be happy to send it to you.
BnB SURE CLUB
Congratulations to Bev McDavid from "At Last B&B" in Pinelands in Cape Town who was the winner of the December BnB SURE Club prize from Sheet Street.
The January competition has opened and is valued at R3700 from "Slip No More" and is non slip floor covering of some 50sq m. Policyholders need simply go to www.bnbfinder.co.za to enter.
THOUGHT FOR THE MONTH
A dream you dream alone is only a dream. A dream you dream together is realiy.
John Lennon
"INTELLIGENT INNOVATIVE INSURANCE"
“INTELLIGENT INNOVATIVE INSURANCE”
“Any information or suggested structures for insurances are by way of example and based on general information rather than client specific information. Should any of these suggestions appear to be relevant it is vital that these are discussed with the specific requirements of the policyholder in mind.
Furthermore, BnB SURE cannot guarantee the accuracy of any of the information listed in any article written by a third party.”
