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Disclosure Documents of PriceSure cc
1Disclosure Documents of Price-sure CC*2Client’s Duty of Disclosure3Policy Protection Rules of Price-sure CC4Business Continuity Plan
NOTE:*Price-sureCCwasincorrectlyspelledbeforeasPricesureCCbutthe matter has now been resolved.1.Disclosure Documents (later on referred to as PS). Disclosure(Information about the financial adviser as well as the product supplier.)(This information does not form part of the insurance contract or any other document.)Personal Details:Name and ID of the key individual and representative of the financial service provider: Tania Swart ID6111270079089.Business Details:Name of business: PRICE-SURE CC, Financial Service Provider (FSP)lisence code: 12565Physical- and Postal Address:Physical address: 674 Fenwick street, Moreleta Park , Gauteng, Pretoria. Postal Address: Not in use any more, We only except electronic mail.Contact Details:Telephone number : 012 997 0887,Cell nr: 082 7790 242, Fax number 086 542 9460 and E-mail address: firstname.lastname@example.org. Our website address is : www.pricesure.co.zaContact person:The representative and manager of the FSP: Tania Lombard Other business addresses:None Legal status:Close Corporation Contractual Status:
The person delivering this document acts on behalf of the FSP as a representative for the FSP and in terms of the ACT the FSP takes full responsibility for its own acts as well as the acts of its representatives that has received a mandate to act on behalf of the FSP.Any concern in any insurer: NoAmount of business with certain insurers:The adviser has recieved more than 30% of the total remuneration, including commision, from any product supplier/s: Yes-Santam: 70% .Financial Services to be offered:Price-sure CC has been authorised to provide short-term personal-and commercial lines advisory- and intermediary services.Compliance arrangements:The Key individual (T Lombard) of Price-sure CC is responsible for the FSP’s compliance arrangements.Guarentees/Professional indemnity/Fedility cover: In possession of proffesional indemnity insurance or not:We have Professional Indemnity- and Fedility cover. Disclosure of our commission:Randvalue of payable fees and commission- We currently earn *12.5% commision on motor- and 20% on non-motor sections on your policy. Thus: for a combined motor- and non-motor policy, we earn on average 15% and on a non-motor policy 20%. * See schedule for brokerfees. The frequency of commission and broker fees is that it is monthly payable by the client.See schedule for the exact disclosure of our commission. Written mandate to represent insurer: YesThe FDV as supplier has an independent, legal and binding agreement with the following product suppliers that administrates their policies themselves:SHA, MIRABILIS,RSA Wildlife, AUTO&GENERAL,1st FOR WOMAN, UNITY, VIRSEKER, etc.The FSP on the other hand contracted FSP SOLUTIONS:
Please find below additional information pertaining to FSP Solutions.We have an internet based quoting system available to our brokers. You can either quote via the internet by logging in with your Username and Password or via our Call Centre which operates Monday to Friday, 8:30 to 18:00 and on Saturdays, 09:00 to 13:00Your client's info is captured onto the system once and in less than 8 minutes you will have a quotation from the following insurers and sub products on Domestic quotes:
Note that all the above-mentioned insurers products are for Combined as well as Motor Only businessFSP Commercial Online (PTY) Ltd offers a multiple quote solution to our broker base, focusing on providing excellent service and market-leading products.We have a range of products available on our Commercial Platform:AbelardUnderwriting AgencyAbsaInsuranceCompanyLTD
AC&E Engineering Underwriting Managers
Auto&General CIACommercialIndustrialAcceptanceEchelonEnvirosureGenlibInsuranceIbilityLionofAfricaLynxTransitUnderwritersOojahPetrosurePolygonUnderwriting RegentInsuranceCompanySantamSHAVUMWesternNationalInsuranceCompanyFSP Solutions will pay your full broker fee and commission which is 12.5% on Motor Sections and 20% on non Motor Sectionsand BROLINK, a licensed administrator to assist us, we use the same system, in preparing quotes, endorsements, renewal letters and dealing with claims for the personal short-term insurance policies of
SANTAM (San 05), SANTAM BROLINK10, M&F, ZURICH, etc. and many other insurers’ policies that they administrate for commercial policies.Price-sure CC , with these group scheme policies of BROLINK, still solely acts as the broker and solely supplies the intermediary- and advisory services.Below is a letter which explains the relationship between Santam and Brolink.
BROLINK’S address and contact details is the following:TEL +27 12 673 0000 or +27 12 450 2600ADDRESS Westend Office Park, 254 Hall Street, Centurion, 0157 PO Box 9346, Centurion, 0046Compliance section of the product supplier:Name and contact numbers of the compliance official: This information will be on the schedule supplied to the clientComplaints division of the product supplier:This information will be on the schedule supplied to the clientTerms or limitations introduced by the product supplier with referral to the types of financial products or services that may be provided by the supplier:This information will be supplied will be on the schedule supplied to the client2.Client’s Duty of Disclosure- (What you must tell Insurers)It is Client’s responsibility to disclose to insurers via PS all material information when obtaining cover, whether proposal or other forms are applicable or completed.Information is material if it would or may reasonably be expected to affect the insurer’s assessment of the risk whether from the perspective of the premium, or the terms of acceptance of any risk, or if the misrepresentation/non-disclosure induces the insurer to enter the contract of insurance on terms or prevents the insurer from forming its own view as to the effect of such risk information on its assessment.The insurer is not obliged to make enquiries about material risk information; the onus falls upon Client as the insured duty assisted by PS.If any material information is omitted or misrepresented, insurers may have the right to void the policy (possibly retrospectively) or reject any claim made in terms thereof. This may mean there is no longer an insurance policy and/or no claims
will be paid. It is, therefore, extremely important to enable the insurers to accurately assess the risk.The duty of disclosure arises when the insurance is first taken out and every time Client renews or amends it. The policy may also include a requirement to advise material changes to Client’s risk profile or business throughout the term of the policy and Client is required to inform PS as soon as possible of any circumstances that have changed or are likely to materially affect any risk insured.Prior to inception (new policy) or renewal (expiring policy) Client must advise PS of all Client known incidents which reasonably could give rise to a claim not yet reported to PS. This is material information and non-disclosure to insurers prior to inception or renewal date may result in claims being repudiated or cover being voided or alternatively re-negotiation of premium and other policy terms.Client history of business liquidation or insolvency needs to be advised to PS. Clients can use the bottom checklist to check disclosures made by yourselves or on your behalf by PS . After disclosures the check list should look like this:
1That all material information in relation to the application/endorsement must be fully disclosed
2That the client is responsible for the correctness and completenessof all answers given to questions in the application/endorsement form
3If the application/endorsement form is completed on behalf of theclient and in his presence, that all information is accurately and completely recorded
4If the application/endorsement form is completed on behalf of the client without his presence, the client will check all information on the schedule supplied afterwards to be accurately and completely recorded and if not, let us as the broker know of any outstanding/incorrect information.
That the client must understand the following possible consequences or misrepresentation of material facts, non-disclosure or inclusion of incorrect information
6Refusal by the product supplier to pay any claim or benefits underthe product
7The Ombud making an adverse finding if a complaint is lodged tohis office
The information in the document has been given to the client in the following way:The client hereby receives a copy hereof per e-mailDocument hasn’t been signed due to electronic post.3.Policy Protection Rules for Clients1)You have to be informed of any essential change in the above paragraphs 1 & 2. When the information in paragraphs 1 and 2 were given to you verbally, it has tobeputinwritingwithin80days.2)In the case of a complaint towards the intermediary or insurer that was not resolved, you can put in a formal complaint at the Registrar of Short- term insurance.3)Poligraph- or any lie detector tests is not compulsary in the case of a claim, and failing to do so can not be the only reason for the repudiation of a claim.4)In cases when premium will be paid with a debit order:it may only be for one benificiary and may not be done without your approval; and the insurer must inform you in writing more than 30 days before the cancellation there of, what the cancellation process entails.5)The insurer, not the intermediary, must give valid reasons for the repudiation of a claim.6)Your insurer may not cancel your insurance only by informing your intermediary. There is a requirement to make sure that a notice were sent to you.
7)Your are entitled to have a copy of the policy without any extra cost.8)Warning:Don’t sign any non-completed or partly completed forms. Fill in all forms in ink. Keep all the documents delivered to you. Keep notes of what is said to you. Don’t be placed under pressure to purchase the product. The Insured that allows faulty information on his schedules to stay there or doesn’t reveal all relevant information might end up with claims that don’t get paid out by the insurer.9)Complaints must be submitted to us as your broker firstly, in writing and must contain all relevant information, and copies of all relevant documentation must be attached thereto; We will then seek to resolve the matter within 6 weeks.Details of the Ombud for Short-term insurance who can advice you in the case of a claim that was not correctly handled by the insurer or insurance intermediary:Visit the following website: www.faisombud.co.za10)Details of the Registrar for Short-term insurance: Board of Financial Services, PO Box 35655, MENLOPARK, 0102 Phone (012) 428 8000 Fax ( 012) 346 68314.Business Continuity Plan.If T Lombard is unavailable, please call your insurer or Customer Loyalty Care (CLC) on 0861222252 or Joe Kotze of FIA on +27 6650085