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JUNE 2011
So much has happened in the last two months at BnB SURE. The introduction of two new sections of the policy – the Motor PA cover and the Tax & CPA legal costs both in response to concerns from the industry.
Then addition to that we have also made a considerable number of enhancements to the rest of the policy with increases to many of the extensions as inflation pushes costs up.
In the event that you missed any of these "Special Editions" of From the Breakfast Table, they can be found on our website at www.bnbsure.co.za
OUR WISH
To make things as easy and uncomplicated as possible for brokers to deal with us and below we list just a few of the facilities.
CONSUMER PROTECTION ACT
A great deal of concern has been voiced by B&B and guesthouse owners about the CPA and how it affects them. An opinion from our attorneys can be found on the home page of our website on www.bnbsure.co.za
BROKER ASSIST
Broker Assist is simply as it says. A facility to assist the broker. An icon goes onto a computer (laptop or desktop) and a simple mouse click opens copies of the Electronic Policy Wording, The excess structure for all sections, the Needs Analysis, Inventory and Proposal form, all of which can be emailed or printed as the insured requires these documents. In addition we mentioned the facility that has a the huge time saver for brokers, where claims notes can be accessed at any time avoiding the need to send reminders to BnB SURE offices.
BnB ASSIST
We mentioned in our April edition of "From the Breakfast Table" that we would be changing the description of the payments on our schedules to read BnB Assist as one amount instead of showing various amount separately. We have been requested by brokers to revert to the way we used to show it so this has been done and schedules will be changed.
ELECTRONIC CLAIMS NOTIFICATION
We understand how important it is for B&Bs and guesthouses to have their claims handled as quickly as possible but this can be difficult if there is any sort of delay in getting notification to us and sadly this often happens. As a result we introduced our ECN (Electronic Claims Notification) and which works on the basis that as a policyholder reports a claim to a broker, it can be captured on the very simple ECN and then "Submit" button is pressed and instantly the notification goes to the branch with which the broker deals and a copy goes to the sender. BnB SURE then can immediately start processing the claim INCLUDING arranging motor assessments and as soon as all documentation is received authorisation can be given.
MOTOR SECTION
We recently sent a communication concerning our motor section and remind you again of these changes.
Our entire motor book will, from 1 July, be written by Infiniti and we will have THREE motor sections.
Normal Motor Section up to R150k at our existing rates.
Executive Motor Section from R150k to R500k and this section of the policy will continue at the same rating basis, terms and conditions as before.
Special Executive Motor Section (new section) for vehicles over R500k. These vehicles will ALL have to be reinsured and will be individually rated.
RATES
A reminder that despite policy enhancements we have had no rates increases for the last 3 years and at this stage there are no plans to increase these. We understand that given the slow down in international tourists to South Africa that some B&Bs and guesthouses are finding things also slowing down and to assist our policyholders we are holding our rates and at the same time introducing the enhancements.
APPLIANCE & MAINTENANCE SECTION
We remind brokers that this section and the Toll Free number is in respect of Appliance Maintenance claims only and claims that are not in respect of maintenance should not be reported through this number but instead in the normal way.
CONTACT US
The details of how to reach us can be found on www.bnbsure.co.za
THOUGHT FOR THE MONTH
Don't look back. Something might be gaining on you.
Satchel Paige – American Athlete
“INTELLIGENT INNOVATIVE INSURANCE”
Disclaimer
“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.”
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