News

 

Looking at statistics from the South African Police Service Crime Report for 2010/2011, a total of 247630 burglaries and 16889 robberies were reported at residential premises, so it makes sense for most home owners to have a safe installed in their homes.
 

Read more by clicking on the link below:

BusinessDay

This is according to Christelle Fourie, Managing Director of MUA Insurance Acceptances, who welcomes this long-awaited and necessary legal stand against motor vehicle theft and the illegal spare parts trade in South Africa.

 

“The recovery of stolen vehicles is a huge problem in South Africa, with statistics from Business Against Crime South Africa (BACSA) revealing that an estimated 90000 cars to the value of R9 billion are stolen or high-jacked every year in South Africa and around only 43% of these cars being recovered.”
 

• The Roof
• The Gutter
• The Fireplace
• Safety Equipment
• The Air Conditioner
• The Plumbing
• The Kitchen
• Windows and Doors
• The Garage
• Electrical Wiring
• Pumps

There have been a few new additions to the MUA family in 2012. Find out more about our new recruits below…

 

We really enjoy adding a new member to the MUA family and this month, Rene Van Der Westhuizen joins MUA on a contract positions as a Claims administrator in the Johannesburg branch. Her new role involves servicing brokers with the entire claims process from the registering phase right through to the settling stage. Rene is very enthusiastic about her new temporary role and aims to achieve her Service Level Agreement with excellence. Welcome to the family!

 

Sadly we occasionally have to say farewell to staff as they move onto other opportunities: Sanele Magibili and Petunia Appana from the Johannesburg Claims team, we wish you both the best of luck in all your future endeavours.

What is your previous experience before being appointed as the Executive Head: Finance for MUA?
After qualifying as a Chartered Accountant with PwC, I gained experience in auditing, the motor industry, banking, and most recently, the wine industry.

 

What are your roles and responsibilities as the Executive Head: Finance?
I will be responsible for planning and controlling the company's overall financial plans and policies, accounting practices and relationships with lending institutions, shareholders and the financial community.  I will also have to develop appropriate accounting and statistical procedures for preparing financial reports and maintaining fiscal records, and to appraise operating results in terms of costs, budgets, operating policies, trends and increased profit opportunities.

 

How did your previous industry experience assist you in this role?
In my career so far, I've gained valuable experience in financial management and I believe that this will stand me in good stead at MUA.  Although the insurance industry is very different to, for instance, the wine industry, the fundamentals of financial management stays the same, regardless of industry.

 

What do you think are some of the biggest challenges in your position?
The biggest challenge for me personally would be to learn as much as I can about the insurance industry and to apply my previous working experience and knowledge to my new position.  I look forward to doing this!

 

What is your advice to people wanting work in the Finance department?
Be prepared to roll up your sleeves, get your hands dirty and always be willing to learn.

 

What is your favorite way to relax after work?
Kick off my shoes, turn on some music, watch the sunset and spending time with my wife.

 

 

What is your previous experience before being appointed as the Executive Head: Finance for MUA? 

 

After qualifying as a Chartered Accountant with PwC, I gained experience in auditing, the motor industry, banking, and most recently, the wine industry.

 

What are your roles and responsibilities as the Executive Head: Finance?

 

I will be responsible for planning and controlling the company's overall financial plans and policies, accounting practices and relationships with lending institutions, shareholders and the financial community.  I will also have to develop appropriate accounting and statistical procedures for preparing financial reports and maintaining fiscal records, and to appraise operating results in terms of costs, budgets, operating policies, trends and increased profit opportunities.

 

How did your previous industry experience assist you in this role?  

 

In my career so far, I've gained valuable experience in financial management and I believe that this will stand me in good stead at MUA.  Although the insurance industry is very different to, for instance, the wine industry, the fundamentals of financial management stays the same, regardless of industry. 

 

What do you think are some of the biggest challenges in your position?

 

The biggest challenge for me personally would be to learn as much as I can about the insurance industry and to apply my previous working experience and knowledge to my new position.  I look forward to doing this!

 

What is your advice to people wanting work in the Finance department?

 

Be prepared to roll up your sleeves, get your hands dirty and always be willing to learn.

 

What is your favorite way to relax after work? 

 

Kick off my shoes, turn on some music, watch the sunset and spending time with my wife.

 

What is your personal motto?

 

Give your best in whatever you do, make every minute count, and above all, have fun.

With a total of 247 630 burglaries and 16 889 robberies reported at residential premises, according to the South African Police Service Crime Report for 2010/2011, many homeowners have begun installing safes on their properties to protect their valuable and irreplaceable items from theft, loss or damage. While this can be an excellent way to protect valuables, it is also of the utmost importance that clients are reminded about the terms and conditions on their insurance policies when using a safe to avoid the risk of a claim being repudiated.

 

Typically, cover for items stored in a residential safe fall under a standard home insurance policy. However, most policies stipulate that items over a certain value – for example, jewellery over the value of R50 000 – must be stored in a safe if it is not being worn or used by the insured at the time.

 

When it comes to storing cash in a safe, similar limitations apply. Policies may state that any cash over the value of R25 000 must be stored in a locked safe. It should be borne in mind that every insurer will have different stipulations and limitations so it is crucial to stress the importance of reading and understanding the terms and conditions of the insurance policy to the insured.

 

Most policies require that signs of forcible and or violent entry into the safe or removal of the safe from the house must be present in order for the claim to be paid out. Unless the policy holder was held at gunpoint and asked to open the safe, it must be clear that the contents of the safe were taken by force and the safe was not simply left unlocked.

 

It is imperative to inform your clients that when storing valuables in the safe that the contents and value of the items stored must be declared at the inception of the insurance policy. If the policyholder does not inform the insurer of the contents, the policy will not cover any loss or damage.

 

For example, if a homeowner takes out a home insurance policy to cover their home up to the value of R1 million but forgets to declare the additional contents of the safe worth R500 000, the homeowner will be underinsured by R500 000. Should the contents be stolen or damaged, any claim will then be subject to the average amount. It is therefore vital to inform your clients that when they are conducting their inventory for insurance purposes, that they include the items stored in their safe in the total sum insured.

 

Some policies may also require that a certain category of safe is used in order for the cover to be valid. The different categories of safes range from category one to four and are determined by the amount of time that is needed in order to open the safe.

 

Although MUA does not stipulate the type of safe to be used, it is advisable for your client to choose a reliable safe and bolt it down so that it impedes removal. When purchasing a safe, make sure it is fire resistant so that all irreplaceable documents, such as identification papers, birth certificates, wills and hard drives with family photos are not damaged in the event of a fire.

 

It is also important for clients to understand that when they are travelling the same rules apply for storage requirements of valuables as stipulated in their policies. Therefore if the policy requires that the items must be stored in a safe when not worn, they must adhere to this while on holiday by storing the items in the hotel safe to ensure the items will be covered in the event of a claim..

 

Another useful tip for your clients when travelling is to store a backup of all travellers’ cheques, copies of passports and other travel documents in a safe at home before departing on holiday. This will ensure that should these documents get stolen or damaged while on holiday they can ask a close family member to send copies of the documents to them to avoid any administration issues while abroad.

 

Studies have shown that during a break-in or robbery, burglars tend to head straight for the bedroom to locate any valuables and a safe, as this is the most common location for these items. Therefore, it is advisable to tell your client to install their safe in a place that is least expected, such as in a cellar, under wooden floor boards, in the bathroom or in the kitchen.

 

As with most insurance policies, when it comes to storing valuables in safes, the best advice to give your clients is to understand the requirements of their policy in order to ensure that when your client submits a claim the process runs smoothly.With a total of 247 630 burglaries and 16 889 robberies reported at residential premises, according to the South African Police Service Crime Report for 2010/2011, many homeowners have begun installing safes on their properties to protect their valuable and irreplaceable items from theft, loss or damage. While this can be an excellent way to protect valuables, it is also of the utmost importance that clients are reminded about the terms and conditions on their insurance policies when using a safe to avoid the risk of a claim being repudiated.

 

Typically, cover for items stored in a residential safe fall under a standard home insurance policy. However, most policies stipulate that items over a certain value – for example, jewellery over the value of R50 000 – must be stored in a safe if it is not being worn or used by the insured at the time.

 

Most policies require that signs of forcible and or violent entry into the safe or removal of the safe from the house must be present in order for the claim to be paid out. Unless the policy holder was held at gunpoint and asked to open the safe, it must be clear that the contents of the safe were taken by force and the safe was not simply left unlocked.

It is imperative to inform your clients that when storing valuables in the safe that the contents and value of the items stored must be declared at the inception of the insurance policy. If the policyholder does not inform the insurer of the contents, the policy will not cover any loss or damage.

 

For example, if a homeowner takes out a home insurance policy to cover their home up to the value of R1 million but forgets to declare the additional contents of the safe worth R500 000, the homeowner will be underinsured by R500 000. Should the contents be stolen or damaged, any claim will then be subject to the average amount. It is therefore vital to inform your clients that when they are conducting their inventory for insurance purposes, that they include the items stored in their safe in the total sum insured.

 

Some policies may also require that a certain category of safe is used in order for the cover to be valid. The different categories of safes range from category one to four and are determined by the amount of time that is needed in order to open the safe.

 

Although MUA does not stipulate the type of safe to be used, it is advisable for your client to choose a reliable safe and bolt it down so that it impedes removal. When purchasing a safe, make sure it is fire resistant so that all irreplaceable documents, such as identification papers, birth certificates, wills and hard drives with family photos are not damaged in the event of a fire.

 

It is also important for clients to understand that when they are travelling the same rules apply for storage requirements of valuables as stipulated in their policies. Therefore if the policy requires that the items must be stored in a safe when not worn, they must adhere to this while on holiday by storing the items in the hotel safe to ensure the items will be covered in the event of a claim..

 

Another useful tip for your clients when travelling is to store a backup of all travellers’ cheques, copies of passports and other travel documents in a safe at home before departing on holiday. This will ensure that should these documents get stolen or damaged while on holiday they can ask a close family member to send copies of the documents to them to avoid any administration issues while abroad.

 

Studies have shown that during a break-in or robbery, burglars tend to head straight for the bedroom to locate any valuables and a safe, as this is the most common location for these items. Therefore, it is advisable to tell your client to install their safe in a place that is least expected, such as in a cellar, under wooden floor boards, in the bathroom or in the kitchen.