Podcast
Questions and Answers
Who is responsible for the disposal of motor salvage?
Who is responsible for the disposal of motor salvage?
- PSG Insure Short-term Administration
- The Insurer-approved salvage agents on behalf of the Insurers (correct)
- PSG
- The Insurer
What is a condition for a salvage retention?
What is a condition for a salvage retention?
- The salvage agent's approval
- The client's approval
- The insured's approval
- The Insurer's approval (correct)
In which case is the insured entitled to the ownership of the salvage?
In which case is the insured entitled to the ownership of the salvage?
- When the salvage value is more than the insured amount
- When the claim is settled
- Never, according to the policy (correct)
- When the Insurer is not entitled to the salvage
What happens when the sum of the insured amount and the actual salvage value is less than the market/retail value of the vehicle?
What happens when the sum of the insured amount and the actual salvage value is less than the market/retail value of the vehicle?
Who is responsible for providing the Registration certificate for the old vehicle?
Who is responsible for providing the Registration certificate for the old vehicle?
Where is the Buyback option available from?
Where is the Buyback option available from?
What should be estimated if a repudiation may be successfully challenged?
What should be estimated if a repudiation may be successfully challenged?
When estimating a SASRIA claim, what should be done?
When estimating a SASRIA claim, what should be done?
What happens to the estimate when an Ombudsman claim is finalized?
What happens to the estimate when an Ombudsman claim is finalized?
What should be included in the estimate for an Ombudsman claim that is not covered under the policy?
What should be included in the estimate for an Ombudsman claim that is not covered under the policy?
When should salvage income be considered in the estimate?
When should salvage income be considered in the estimate?
What happens to the estimate when a provisional ruling is received from the OSTI?
What happens to the estimate when a provisional ruling is received from the OSTI?
What type of document is required for interim payments on claims where cover is confirmed and liability is admitted?
What type of document is required for interim payments on claims where cover is confirmed and liability is admitted?
What is the primary reason for repudiation of a claim?
What is the primary reason for repudiation of a claim?
What is the purpose of a formal repudiation letter?
What is the purpose of a formal repudiation letter?
What is the next step if an insured disputes a repudiation?
What is the next step if an insured disputes a repudiation?
Who can reject a claim?
Who can reject a claim?
What is the name of the document used when a claim is settled on an ex-gratia basis?
What is the name of the document used when a claim is settled on an ex-gratia basis?
What happens to salvage that has no value?
What happens to salvage that has no value?
Why is it important to follow up on salvage?
Why is it important to follow up on salvage?
What is the principle of average?
What is the principle of average?
When may an insurer not apply the principle of average?
When may an insurer not apply the principle of average?
What type of claims involve situations where an individual faces a claim or demand for damages from a third party?
What type of claims involve situations where an individual faces a claim or demand for damages from a third party?
Who is responsible for causing harm to someone else or their property in third-party liability claims?
Who is responsible for causing harm to someone else or their property in third-party liability claims?
What is a requirement for insurers to collect and process personal data?
What is a requirement for insurers to collect and process personal data?
Why must insurers maintain appropriate security measures?
Why must insurers maintain appropriate security measures?
In the event of a data breach, what must insurers do?
In the event of a data breach, what must insurers do?
What right do individuals have regarding their personal information under POPIA?
What right do individuals have regarding their personal information under POPIA?
What is necessary for insurers to demonstrate compliance with POPIA?
What is necessary for insurers to demonstrate compliance with POPIA?
What is the purpose of POPIA's requirement for insurers to ensure data accuracy and integrity?
What is the purpose of POPIA's requirement for insurers to ensure data accuracy and integrity?
