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Do's and Don'ts of insurance

DO ……

  1. Read the Certificate of Insurance (also referred to as the Policy Wording or Policy Document) and if it is not correct or doesn’t correspond with your instructions, return it IMMEDIATELY to the placing/issuing broker. It is important to know that the policy does not cover intentional slaughter except in specific cases as defined in the policy wording.
  2. Quote the Certificate Number when contacting the placing/issuing broker. The issuing broker is often an underwriting agent of the unsurer or underwriter.
  3. Familiarise yourself and comply with the statutory Duty of Disclosure.
  4. Timeously arrange all paperwork and documentation and submit it to the placing/issuing broker as required e.g. current veterinary certificate, declaration of good health, justification of value.
  5. At all times, provide the animal with proper care and attention, including veterinary treatment.
  6. Contact the placing/issuing broker IMMEDIATELY an animal is injured, becomes sick or needs to be operated on, including minor surgical procedures.
  7. Report a loss immediately to the placing/issuing broker.
  8. Make arrangements, at your cost, for an autopsy/post mortem on the death of the animal, to be performed by a qualified veterinary surgeon that identifies the animal and cause of death.
  9. Advise any third person having care, custody or control of the animal of the requirements under 5, 6, 7 and 8 above.
  10. Advise the placing/issuing broker of any changes of ownership of the animal, including fractional interests, whether selling or simply parting with it.
  11. Advise the placing/issuing broker of any changes of use of the animal.
  12. Advise the placing/issuing broker of any intended change in the territorial limits specified in the Certificate of Insurance.
  13. Timeously pay the premium. In the event of a claim where the premium paid is for a period of less than 12 months, the full annual premium may be required to be paid.
  14. Review the sum insured from time to time to ensure that it corresponds with the current market value. A pro rata adjustment to premium will be made either way.
  15. If the animal is offered at public auction and fails to attract a bid higher than the sum insured, then the insurer’s maximum liability is the highest bid.
  16. Lodge any complaints with the Complaints Officer of the placing/issuing broker.

DON’T ……

  1. Have the animal operated on or surgical procedure performed without permission from the placing/issuing broker UNLESS in an attempt to save the animal’s life.
  2. Have an animal put down (euthanased or destroyed) without permission from the placing/issuing broker.
  3. Have the animal’s carcass (body) removed prior to an autopsy/post mortem being performed.
  4. Arrange alternative or duplicated insurance cover without notifying the placing/issuing broker.
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