AURA (Automotive Underwriting Risk Acceptances) Now Autom8
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Transcript of AURA (Automotive Underwriting Risk Acceptances) Now Autom8
AURA (Automotive Underwriting Risk Acceptances) Now Autom8
Aura - Background
Motor Underwriting Agency – in business since 1996 Specialising in:- Corporate Fleets - Commercial Motor- Bus Operators (Transease)Underwritten by: - Guardrisk Insurance Company- Lloyds of London (Transease passenger Liability)
Aura Cont…
Value of the book - +/- R100 000 000
Aura products
- Transease- Bus facility
- Fleets with aggregate or deposit structures on annual clients
- Specified vehicles, monthly or annual payment options available
Aura Territorial limits - Africa South of the Equator
Aura - limits
Own Damage limit any one vehicle R3 million
Third Party Liabilities R5 million
Non Fare Paying Passenger Liabilities R5 million
If higher limits are required we can arrange XOL cover up to R100 million (Lloyds)
Fare Paying Passenger Liabilities from ground up through London- up R100 million and R200 million on referral to Lloyds
Aura - Extensions
Emergency Travel Costs
New for Old/Credit Shortfall
Search and Recovery Charges
Breakdown tow-in
Windscreen cover including headlamps
Optional car hire (group B) including commercial vehicle (R400 per day)
Aura- Minimum requirements
15 vehicles for FLEET Policy and 3 vehicles for a specified Policy
Existing Deductible structure with a minimum of 3 years claims history
List of vehicles indicating individual VALUES
RISKS EXCLUDED FROM THE FACILITY - Car Hire Companies - Courier Risks - Transport Contractors - High valued executive vehicles
Transease
Transease – Autom8 Bus Facility
Quoting Strategy
Transease can offer the following options:
Conventional comprehensive / Third Party Fire and Theft
Third Party only
Aggregate Deductibles
Deposit Premiums on Own Damage and Third Party - excluding Passenger Liability
Various combinations of optional extensions
Transease/Aura Markets
Assets Underwritten by - Guardrisk Insurance Company
Fare Paying Passengers Underwritten by - London Market
Transease -Target Markets
• Dept. of Transport tender operators
• Scheduled service operators
• Specialist Tour Operators
• Municipal / Parastatal Bus Fleets
• Tour Operators Fleets
• Accommodating SME Operators, subject to fleet profile
Basic Package includes
• Own Damage up to R3m ANY one Vehicle (Depot/ Car Park accumulation limit on Fire & Allied Perils – R2m any one event)
• Liabilities – Limit : R5m (up to R100m available)• Keys – Limit : R7 500 & Radios – Limit : R10 000
• Emergency Charges – Limit : R100 000
• Emergency Travel Costs – Limit : R50 000
• Search and Recovery Charges – Limit : R100 000
• Medical Expenses – R2 000 per passenger
Optional Extensions
• Passenger Liability up to R200 million
• Increase In Cost of Working - Limit : R40 000 per vehicle per Occurrence but limited to R1 000 per vehicle per day
• Criminal Defence Costs - Limit : R150 000 in the annual aggregate but limited to R3 500 per employee/driver per occurrence
• Accident Management Costs – Limit R50 000 per Occurrence
• Baggage - Limit : R50,000 any one Occurrence but limited to R2 000 any one occupant
Minimum requirements
3 USED Buses for a specified Policy and 10 Buses for a fleet Policy
List of Buses indicating individual VALUES
Existing Deductible structure with a minimum of 3 years claims history
Transease Proposal Form
RISKS EXCLUDED FROM THE FACILITY - TAXI Services - Bus Ambulances - Shuttle Services
Obligations placed on drivers
CURRENT Licensing requirements such as: - PDP - Endorsements of licenses - Driver Training - Vehicle Maintenance
New DRAFT National Land Transport Act - National Public Transport Regulator will be involved
in various aspects of public transport, from changing PDP licenses to “an Operating licence” to having to have a programme of maintaining and servicing all vehicles
The Aura Team
Business Leader – Kees GoedhartProduct Owner – Ian LabramUnderwriting Team – Gladys van der Merwe, Ronel Esterhuizen & Angelique le Roux, Maureen KosterPolicy Administration team – Meryl Oliphant, Patience Maetse, Gugu Nkosi, Lia Beiling & Moshadi Tlhalogang, Claims team – Eric Sigama, Laura Martins, Shayne Hollenberg, Roderick Smith, Charlien Ellis, Sipho Makhapela, Priscilla Snydert & Thea da Silva (auditor)
Thank You
Contact Details
Guardrisk Allied Products and Services (Pty) Ltd.Co.Reg No.: 2007/016202/07FSP No: 10411An Authorised Financial Services Provider
Physical Address PostalAddress90 Rivonia Road P O Box 783542Sandton Sandton2196 2146
Ian Labram
(011) 669 3161
Cre8 Helpline: 0860 002 500Cre8 Web: www.cre8sa.co.za
Cre8 Email: [email protected] & Compliments:gripes&[email protected]