The consequences of insurance risk inspections
“Just ask the insurer to send an assessor to inspect the property and tell us…”. This is a sentence brokers hear quite often from our clients. From one perspective, it…
Bruce Gibson
The importance of accurate insurance values and limits
By now, most managing agents and bodies corporate are aware that the new community scheme regulations have set minimum requirements for various types of insurance regarding the assets and finances…
Retirement centres and additional insurance risks
Many retirement centres across the country are registered as sectional title schemes. As such, their building insurance needs are provided for by one of the specialist property insurance products available.…
Why full insurance disclosure is important
When an insurance policy is purchased, the property owner (the insured) enters into a legally binding contract with the insurer to obtain indemnification against financial loss. This is subject to…
Know your neighbour’s property
As a property owner, it is important to have a reasonable awareness of the condition of your property at all times. Awareness is key Being aware is essential to ensure…
Risk assessment and the value of good advice
Whether you buy a home as a primary property or an investment property, it is a costly endeavour where the budget is often extended to the maximum. Expenses to be…
Are you covered for smoke and pollution?
On Friday, 24 March 2017, an industrial warehouse in Rossburgh (Durban) caught fire and burned for over three days. Owing to the nature of the warehouse contents, its location (Durban…
Sectional title chain of command
In the area of sectional title insurance, all members are indeed the insured. While the insurance policy is issued in the name of the body corporate, the description of the…
Mid-term change in insurance T&C’s
An insurance policy is issued as an annual contract between the insurer and the insured. Before each anniversary date, the insurer will present its intended renewal terms for the next…
Death on sectional title property
Life in the sectional title environment can, very occasionally, take a drastic turn for the worse. Death comes to us all, but for some it takes place on body corporate…