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Sasria makes an extension available for reasonable security, preventative and property-protection costs incurred to prevent imminent loss caused by a Sasria-related peril. It is available only with the Material damage and Contract works sections and is capped at R10 000 000 in total annual aggregate without reinstatement after a claim.
Sasria makes available guidance for NMI’s and auditors completing audit reports and annexures, including data-entry, formula, reconciliation, reversal and adjustment instructions.
Sasria provides a domestic fire insurance rate for qualifying domestic risks of 0.000363% per month or 0.00363% per year.
Sasria provides a separate fire rate for tertiary institutions, which are categorised as domestic risks, at 0.000436% per month or 0.00436% per year.
Agents or other people responsible for completing Sasria Annexures can complete and submit them using the specified fields, manual Gross Premium input rules, unchanged formulas and matching payment totals.
People processing premium reversals or backdating can use an Adjustment annexure, applying the commission rate relevant to the period concerned and notifying their Customer Relationship Manager beforehand.
Non-mandated intermediaries can use the Annexure 1 return to report and remit Sasria premiums, with mandatory intermediary and collection details. The return must be submitted to Sasria Finance by email or through CWP and must accompany the premium transfer.
Sasria makes its Customer Web Portal available to non-mandated intermediaries to assist with administration of Sasria business, including submission of Annexure 1 returns.
Sasria makes four motor settlement bases available: retail value; retail value plus up to 10% for unspecified extras or accessories; replacement value for qualifying newer vehicles; and agreed value for vehicles whose retail value is difficult to assess, such as classic, unique or high-worth vehicles.
Sasria agents are given access to a web portal to make administration of Sasria business easier, including submitting Annexure 1 returns.
Finance departments of NMIs can use the Annexure 1 return to report and remit premiums collected on behalf of Sasria by class of business and month or annually.
Sasria makes a web portal available to NMIs to make administration of Sasria business easier.