PDF Notes: Santam 747 Executive

What forms the contract between Santam and the policyholder?

The policy, Schedule, correspondence, and application for insurance.

What happens if the premium is not received by Santam?

Cover under the policy will end on the last day of the month for which the premium was received.

What is the duration of the initial policy period?

From the start date to the last day of that calendar month.

How can premiums be paid?

Monthly or yearly by debit order, or yearly in cash.

What must be done if a claim may arise?

Notify Santam as soon as possible and provide full details within 30 days.

What is the consequence of a fraudulent claim?

All rights to claim under the policy will be lost.

What is the no-claim bonus?

A discount on premium for not claiming in the previous 12 months.

What does 'cyber loss' mean?

Any act affecting access to or operation of a computer system or data.

What is excluded under the general exclusions related to riots?

Loss or damage caused by riots, wars, or political acts.

What is the definition of 'excess' in the policy?

The amount the policyholder must pay before a claim is settled.

What happens if the insured amount is settled for a claim?

No premium refund will be given for the remainder of the insurance period.

What is required for a claim related to subsidence or landslip?

Proof that the loss or damage was caused by subsidence or landslip.

What does SASRIA cover?

Accidental or intentional damage during riots or public disorder in South Africa.

What is the implication of not informing Santam of material changes in risk?

The policy may be declared invalid or claims may be rejected.

What is the definition of 'personal information'?

Information relating to identity, health, financial status, and history.