Document2 of 2 opportunities in this document openRegulation

Group Scheme Section

SOUTH AFRICAN SPECIAL RISKS INSURANCE ASSOCIATION (Sasria Soc Ltd)Ref: https://sasria.co.za/wp-content/uploads/2025/04/Group-Scheme-Section.pdf

Official source

Source domain: sasria.co.za

Collected on 13 July 2026

Always confirm details on the official source before acting.

What this means

This document is a “Group Schemes” section of Sasria SOC Ltd regulations, setting out how Sasria group insurance schemes must be registered, issued, and administered. It specifies rules for different coupon/policy types (personal lines, commercial lines, motor, small craft, and business interruption), including limits on indemnity periods and requirements for how sums insured and underlying policies must be handled. It also sets minimum premium rules for group scheme policyholders and explains when pro-rated premiums may be charged for new business.

What this document offers

Read out of this document by Govermate's AI, in its own words. Each one quotes the line it came from — confirm on the official source before acting.

insurance scheme registrationOngoing

Registration of a Group Scheme with Sasria

A group scheme can be registered with Sasria SOC Ltd if it meets specific criteria, including providing the scheme's name, indicating whether it is domestic or commercial, specifying whether it is monthly or annual, confirming compliance with all running provisions, and agreeing to notify Sasria upon cancellation.

Who it is for: Sasria agents, underwriting agents, brokers, and group scheme administrators
How to act on it: Submit the required details to Sasria SOC Limited for registration, including scheme name, type (domestic/commercial), frequency (monthly/annual), confirmation of compliance, and notification of cancellation.

Show the line this came from

Facts

Reference

https://sasria.co.za/wp-content/uploads/2025/04/Group-Scheme-Section.pdf

Amounts

R 250 000 000, R 500, R 50

Key Takeaways

Sasria Group Schemes are not permissible for Contract Works Coupons
Group Scheme registration with Sasria requires: scheme name; domestic or commercial; monthly or annual; confirmation running provisions will be adhered to; notify Sasria on cancellation
All persons covered must take out Sasria coverage on all property that can be insured by Sasria
Coupons/policies must be issued no later than 30 days after the end of the month in which cover incepts (e.g., 1–30 Sept issued no later than 30 Oct)
A single coupon/policy may be issued at month-end, but each insured must be treated as if a separate coupon/policy was issued
Business interruption (standing charges only): maximum indemnity period is 12 months; uninsured working expense schedule only; no additional increase cost of working extension on group schemes; loss limit R250 million per insurance period; full loss of profit should be one-third of excess of loss cover
Annually renewable underlying policies: Sasria must receive full premiums in advance for the total annual premium (including instalments) and underwriting agents must be aware
Minimum premium per group scheme policyholder: R500.00 per annum or R50.00 per month (non-motor commercial coupons); minimum applied as if individual coupon issued; calculated per rating class (e.g., F1 classes: R30.00 per annum or R3.00 per month)
Motor minimum premiums apply per vehicle for Cat M1, M2, M3; applicable rate for Cat M4 and M5
New business may be pro-rated if inception date of underlying policy is not the first day of the month, but minimum premiums may not be pro-rated
Sasria SOC Limited
Sasria SOC Ltd
Sasria agents
Underwriting Agents
Brokers
Policyholders
Insured