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Press release: The South African Insurance Association (SAIA) announced today that a restructuring of its subsidiary, SAIA Approved, would take place with immediate effect. “The Board of the SAIA took an in principle decision to re-incorporate SAIA Approved into SAIA and to dissolve the current separate company under which SAIA Approved has been operating since October 2005. The SAIA Approved operations will continue directly under the SAIA and will concentrate on core functions that have been identified by a work group jointly appointed to look into this matter by the SAIA and SAIA Approved Boards,” said SAIA Chief Executive Barry Scott. SAIA Approved sets standards for insurance related products and tests and approves these products with a view to reducing risk for insurers and their policyholders alike. Reduced risk for policyholders means potential saving of lives and increased peace of mind, and reduced risk for insurers means reduced costs resulting in ultimately stabilising premiums to keep these affordable for policyholders. The core functions SAIA Approved will be concentrating on in future directly relate to risk reduction and will include the current SAIA Vehicle Security Systems Ratings (VSS), tracking company approval, as well as product testing in the domain of intruder detection, security barriers, motor security, thatch protection, tyre bands, computer security, lightning protection, and locks. “Current approved SAIA Approved suppliers of the relevant products, as well as policyholders who have had these products installed, can rest assured that SAIA Approved will continue with its operations, albeit in a different guise,” added Mr Scott. SAIA’s members who benefit from the services of SAIA Approved will continue to support SAIA Approved.