IUM | Third-party Liability Increase
Dear Valued Broker

IUM would like to take this opportunity to thank you for your continued support. We trust that we have lived up to our promise of delivering value through exceptional service and competitive product offerings.
 
IUM conducts annual actuarial analysis of premium rates structures in relation to risk exposure. We have applied careful analysis and considerations to each individual exposure which allows us to improve our service delivery as a whole. With this in mind, we would like to bring your attention to the monthly increase in Third-Party Motor Liability premiums effective 1 April 2019 as per the rating table below:
 
Subsection B: Liability to Third-party Sum Insured Additional Increase in Premium
Private Motor and Light Commercial Vehicles R2 500 000.00 R20.00
R5 000 000.00 R30.00
R10 000 000.00 R40.00
Private Motor R20 000 000.00 R60.00
Light Commercial Vehicles R20 000 000.00 R40.00
Commercial Vehicles R2 500 000.00 R45.00
R5 000 000.00 R45.00
R10 000 000.00 R45.00
R20 000 000.00 R45.00
Motorcycles R2 500 000.00 R20.00
R5 000 000.00 R35.00
Motorcycles (Passenger Liability) R250 000.00 R20.00
Busses: Up to 12 seats R2 500 000.00 R55.00
R5 000 000.00 R85.00
R10 000 000.00 R95.00
R20 000 000.00 R90.00
Busses: 12 to 30 seats R2 500 000.00 R78.00
R5 000 000.00 R112.00
R10 000 000.00 R140.00
R20 000 000.00 R110.00
Busses: Over 30 seats R2 500 000.00 R40.00
R5 000 000.00 R50.00
R10 000 000.00 R80.00
R20 000 000.00 R60.00
Private Trailers and Caravans R2 500 000.00 R15.00
R5 000 000.00 R20.00
R10 000 000.00 R25.00
Commercial Trailers R2 500 000.00 R20.00
R5 000 000.00 R35.00
R10 000 000.00 R50.00
R20 000 000.00 R70.00
Plant All Risks (Contract Site) R2 500 000.00 R15.00
Plant All Risks (Liability to Third-parties: Road Risk) R2 500 000.00 R80.00
R5 000 000.00 R110.00
R10 000 000.00 R140.00
R20 000 000.00 R150.00
Motor General
Contingent Liability, Fire and Explosion R2 500 000.00 R12.50
R5 000 000.00 R7.50
R10 000 000.00 R2.50
Parking Facilities and Movement of Third-party Vehicles R2 500 000.00 R5.00
R5 000 000.00 R12.50
R10 000 000.00 R10.00
Leisure (Motorhomes)
Liability to Third-parties R2 500 000.00 R28.54
Passenger Liability R2 500 000.00 R20.00
Leisure (Watercraft)
Liability to Third-parties R2 500 000.00 R8.33
Passenger Liability R500 000.00 R8.33
Waterskiers Liability R250 000.00 R16.67
Parasail Liability R250 000.00 R7.92
Leisure (Caravans and Trailers)
Liability to Third-parties R2 500 000.00 R12.00
Should you have any queries please do not hesitate to contact your Broker Consultant.
Karin Janse van Rensburg
Managing Executive: Underwriting and Risk
010 045 3347
karinr@ium.co.za
Copyright © 2019 Insurance Underwriting Managers (Pty) Ltd. FSP number: 21820, All rights reserved.


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