|
 |
|
Consumers: Short-term » Directory
|
|
|
|
|
|
| Navigate Short-term Consumers: |
|
|
|
|
|
|
| | |
|  | Directory |
| |
| | |
|
|
|
| | |
|
Intermediaries Guarantee Facility
| Tel: +27 11 726 5391 |
| Fax: +27 11 726 5353 |
Address:
5th Floor
JCC House
27 Owl Street
Milpark
2029 |
Postbox:
PO Box 30619
Braamfontein
2017 |
Scope:
Eastern Cape, Free State, Gauteng, KwaZulu-Natal, Mpumalanga, North-West, Northern Cape, Northern Province, Western Cape. |
Licence:
Guarantee
|
Intermediaries Guarantee Facility is a facility set up by the short-term insurance industry generally for the purposes of providing security in terms of Section 45 of the Short Term Insurance Act read together with regulation 4 thereto.
A short-term insurer may not authorise a person in writing to act as an independent intermediary, to receive, hold or in any other manner deal with premiums payable to it under short term policies unless that person has provided security in terms of the Regulations Part 4 and Section 45 of the Short Term Insurance Act 1998. |
|
 |
|
|
 |
From The Glossary » | Quota Share Reinsurance: |
| | An agreement whereby the ceding company is bound to cede and the reinsurer is bound to accept a fixed proportion of every risk written by the ceding company within a defined category of business. The reinsurer thus shares proportionally in all losses and receives the same proportion of all premiums. | | More Definitions » |
|
|
| |
| | |
|
|
|
|
