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INSURANCE COMPANIESGENERAL INSURERS

New National Assurance Company Limited

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Tel: (031) 334 2000
Fax: (031) 301 1166
Address:
5th Floor
Field House
25 Field Street
Durban
4001
Postbox:
PO Box 1610
Durban
4000
Scope:
Eastern Cape, Free State, Gauteng, KwaZulu-Natal, Mpumalanga, North-West, Northern Cape, Northern Province, Western Cape.
Licence:
Accident & Health
Engineering
Guarantee
Liability
Miscellaneous
Motor
Property
Transportation

New National Assurance Company provides insurance for the real world: flexible short-term insurance products backed by the world’s leading re-insurers and tailored to your needs.

 

From The Glossary »

Automatic Reinsurance:

A reinsurance procedure whereby the reinsuring company binds itself unconditionally to accept reinsurance for specified amounts in proportion to the amount retained at its own risk by the direct writing company. This permits the direct writing company to issue a policy at once if the amount of insurance is within its own retention plus the automatic coverage.
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