Why do we pay an insurance excess?
We buy insurance to secure protection for ourselves when we suffer a property loss or damage which we cannot afford to repair or replace out of pocket. When a claim…
Bruce Gibson
Navigating multiple section storm damage claims in sectional title schemes
When your home and buildings are impacted by a storm, especially your living space, addressing and repairing the damage quickly becomes a top priority. In a sectional title environment, the…
Insurance cover for property exposed in the open
Your buildings insurance offers protection for all permanent fixtures and fittings falling within the insurer’s definition of buildings. Fixtures positioned or installed in open areas or easily accessible locations on…
Who is covered by fidelity guarantee insurance?
Following the amendment to community scheme property legislation, most community schemes had to comply with the requirement for appropriate fidelity guarantee insurance. Specialist community scheme property insurers have presented CSOS-compliant…
Email spoofing and the value of fidelity guarantee insurance
Under the current Community Schemes Ombud Service (CSOS) Act, all community schemes are required to have sufficient fidelity guarantee insurance. It is also prudent to include protection against incidents of…
How to know if your insurance claim is viable
Insurance policy wording can be hard to make sense of for an ordinary person with no legal or insurance background. An insurance policy wording creates a legally binding contract between…
How to deal with multiple excesses in insurance claims
When an insurance claim is submitted and settled by the insurer, in most scenarios the insurer will settle the agreed amount less the applicable excess or first amount payable. With…
Professional indemnity insurance: Who is responsible to ensure that your scheme is protected?
Professional indemnity insurance cover is issued to provide insurance cover for a service provider in case their clients suffer a financial loss, resulting from the negligent act, error or omission…
Storm season is coming. Are you prepared?
Over the last few years, the storms see to be intensifying across the country, causing increasing degrees of property damage each year. While severe storms do occur from time to…
Legal expenses in community schemes
In October 2016, new legislation governing community scheme property came into force, followed by an increase in statutory responsibility and accountability of property owners, trustees and managing agents. More so…