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A Sasria Material Damage Coupon is available for qualifying underlying material damage policies, including fire, buildings combined, office contents, glass, business all risk, electronic equipment, personal all risks, householders, houseowners and listed agricultural and personal lines policies.
- Who it is for:
- Insureds with qualifying underlying material damage, agricultural or personal lines policies
- How to act on it:
- Have the relevant underlying policy assessed and have a separate Material Damage Coupon issued for the applicable class.
Sasria agents use the Annexure 1 return to remit the Sasria premiums they have collected. The return must be completed in full with the agent's name, address, VAT number, year of account, month of business, collection month and payment frequency, and must not have its Outsource Fee and Intermediary Fee formulas amended. It is submitted by email to the Sasria Finance department or through the Customer Web Portal, together with the electronic transfer of the premiums into the Sasria bank account.
- Who it is for:
- Sasria agents and their finance departments
- How to act on it:
- Complete the Annexure 1 return (sample under downloads) in full, attach a Tax Invoice relating to Sasria Commission in the format of the specimen, submit it by email to the Sasria Finance department or through CWP, and transfer the premiums into the Sasria bank account with a clear transaction description such as Agent – Month/Year.
The Customer Web Portal is a web portal made available to the Sasria agent to make the administration of the Sasria business easier, and it can be used to submit the Annexure 1 return instead of emailing the Sasria Finance department.
- Who it is for:
- Sasria agents administering Sasria business
- How to act on it:
- Made available to the Sasria agent; the agent submits its Annexure 1 return through CWP as an alternative to emailing the Sasria Finance department.
Effective 1 May 2023, the outsource fee for non-motor classes of business will be reduced from 12.5% to 10.5%. This applies to all new business, renewals, and endorsements for relevant coupons.
- Who it is for:
- SASRIA agents and intermediaries handling non-motor business
- How to act on it:
- No action required by recipients; the change is implemented automatically upon system updates. Recipients must ensure their systems reflect the new rates.
Effective 1 May 2023, the intermediary fee for non-motor classes of business will be reduced from 15% to 12%. This applies to all new business, renewals, and endorsements for relevant coupons.
- Who it is for:
- SASRIA agents and intermediaries handling non-motor business
- How to act on it:
- No action required by recipients; the change is implemented automatically upon system updates. Recipients must ensure their systems reflect the new rates.
Sasria agents must remit premiums collected on behalf of Sasria within 30 days from the end of the month in which cover commences. This must be done using the Annexure 1 return form, completed with full mandatory details, and submitted via email to Sasria Finance or through the Customer Web Portal (CWP). A tax invoice for commission must also be included.
- Who it is for:
- Sasria agents
- How to act on it:
- Complete Annexure 1 return with required details, attach tax invoice, and submit via email to Sasria Finance or through the Customer Web Portal (CWP)
Sasria agents can remit premiums collected on behalf of Sasria within 30 days from the end of the month in which coverage begins. The remittance must be submitted using the Annexure 1 return form with full mandatory details, either by email to Sasria Finance or through the Customer Web Portal (CWP). The payment must include a clear transaction description for proper allocation.
- Who it is for:
- Sasria agents
- How to act on it:
- Complete Annexure 1 return with required details and submit via email to Sasria Finance or through the Customer Web Portal (CWP)
If an agent cannot submit the external audit certificate on time, they may request an extension by submitting a written request to the Finance Director before the deadline expires.
- Who it is for:
- Sasria agents needing to delay audit certificate submission
- How to act on it:
- Submit a written request to the Finance Director before the deadline
Sasria agents must submit a completed Annexure 1 return with mandatory details including agent name, address, VAT number, year of account, month of business, collection month, and payment frequency. The return must not be amended and must be sent via email to Sasria Finance or through the Customer Web Portal (CWP). A tax invoice for Sasria commission must also be attached.
- Who it is for:
- Sasria agents
- How to act on it:
- Complete Annexure 1 return with all mandatory details and submit via email to Sasria Finance or through the Customer Web Portal (CWP)
Sasria agents may apply for a reversal of a previously collected premium by submitting a formal application to Sasria along with supporting documentation. Unauthorized reversals may lead to claims being dishonoured if prejudiced.
- Who it is for:
- Sasria agents
- How to act on it:
- Submit a written application to Sasria with supporting documentation for approval before reversing the premium.
Sasria agents can remit premiums collected on behalf of Sasria using the Annexure 1 return form. The form must include mandatory details such as agent name, address, VAT number, year of account, month of business, collection month, and payment frequency. Remittance must be completed within 30 days of the end of the month in which coverage begins and submitted via email to the Sasria Finance department or through the Customer Web Portal (CWP).
- Who it is for:
- Sasria agents
- How to act on it:
- Complete the Annexure 1 return form with mandatory details and submit it via email to the Sasria Finance department or through the Customer Web Portal (CWP), accompanied by an electronic transfer of funds.
Sasria agents can remit premiums collected on behalf of Sasria by submitting a completed Annexure 1 return with all mandatory details, including agent name, address, VAT number, year, month, collection month, and payment frequency. The return must be sent via email to the Sasria Finance department or through the Customer Web Portal, accompanied by a tax invoice and a clear transaction description.
- Who it is for:
- Sasria agents
- How to act on it:
- Complete and submit the Annexure 1 return via email to the Sasria Finance department or through the Customer Web Portal, along with a tax invoice and transaction description