Procedures

General

 

Invariably all policies contain conditions regarding the prompt notification of claims. It is therefore crucial that both you and your staff immediately report all incidents (including those that only involve third parties) that may give rise to a claim to Chadwicks. A number of claims have been repudiated on the grounds of late notification in that the insurers right to investigate or reduce the loss were prejudiced.

 

 

General Claims

 

  • A fully completed claim form must be submitted immediately to Chadwicks with documentation substantiating the amount of the loss
  • Theft, Loss of Property and Motor Accidents must be reported to the Police immediately after the occurrence
  •  All reasonable precautions must be taken to protect the property from further damage. i.e. act in principle “as if uninsured”
  •  Never admit liability to Third Parties. All correspondence received should be forwarded to Chadwicks without delay
  •  Vendors registered for VAT will be required to pay VAT to the Receiver of Revenue on claim settlements they receive. Sums insured must therefore include VAT at all times.

 

 

 
 

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Newsroom

Strict Product Liability on the cards

2009-06-24

The new Consumer Protection Bill, which has now been enacted, will have far reaching consequences for South African business in that Section 68 imposes Strict Liability on producers, distributors or suppliers to supply or manufacture goods free of defect...  


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Late Claim Notification may mean "No Claim"

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The rule of thumb to avoid falling victim to a claim denied on the basis of Late Notification is to notify your insurer and /or broker of any event that may give rise to a claim, no matter how small or trivial the event may seem. Rather let your insurers take whatever action they deem fit – this is after all why you pay them insurance premiums

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