SASRIA, as we’re sure you are aware, have implemented changes to their Regulations. The extent of these was specified in Circular number 436. This has obviously had an impact on our systems and we’d like to draw your attention to the areas that have been reviewed.
Automatic Renewal
We have implemented the changes that are required to cater for the automatic renewal process. All existing SASRIA coupons/policies that are due for renewal from 1 June 2008 will in future be renewed automatically. The process where you had to ask for a new coupon/policy to be issued when the underlying policy was renewed is no longer required.
Layout changes to the Coupon/Policy
Effective from 1 June 2008 all SASRIA new business coupons/policies and renewals in respect of Material Damage, Contract Works, Standing Charges and Working Expenses must reflect the following information:
Name of the holding company
Company registration number
Risk address – top five risks per highest sum insured
For coupons/policies that provide cover for motor vehicles, the top five locations must be provided wherever applicable.
We understand that for June and July renewals this information may not be readily available but ask that you assist us by obtaining and submitting the details to us within three months of renewal. It is imperative that this information is included on the SASRIA schedules.
If you have any queries, please contact your Broker Manager or your nearest Zurich Sales Office.
