SASRIA Rates
SASRIA notice about rates
Submitted by Michaela on Wed, 2011-12-07 15:22Image/Video:
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Content:
It has come to our attention that some brokers are paying the incorrect Sasria rates, as the incorrect rate is charged to the policyholder.
There is a difference in the rates charged for a commercial and for a personal lines policy.
To distinguish between the two:
- Commercial lines policy such as one being purchased by a juristic persons (juristic person is a partnership, association or other body of persons corporate or unincorporated including a trust) and natural persons acting in a business capacity to acquire the relevant policy;
- Whereas a personal lines policy is one purchased by a juristic persons and natural persons acting otherwise than in a business capacity when acquiring the relevant policy.
It is important that the correct rates are charged and paid to Compass/MUA as Compass/MUA pay the correct amounts to Sasria, which then leaves us short of Sasria premium.
Please contact your MUA Branch if you need assistance.
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