Saturday, January 2, 2010

Summary of Benefits Table (Page 22)

Addsure places most sectional title building cover with Corporate Sure (underwriting managers for Santam) and CIA (underwriting managers for Compass). Addsure also places with FPA (underwriting managers for Centriq), Abacus (underwriting managers for Mutual & Federal), Zurich, Santam, HIU, Acommod8/Natsure and Chartis (new agency pending).

The above table was based on a typical sectional title policy in 2008. Since then some underwring managers have increased liability cover and trustee indemnity, widened fidelity cover and some now offer limited subsidence and landslip cover.

These policies are designed to meet the requiremnts of PMR 29.

Your broker / adviser needs to understand sectional title. Is your body corporate insured by one of the aforementioned insurers?