Address: Unit 3 Medgate Centre
Postbox: PO Box 774
Praestar is an Underwriting Manager that writes business with respect to performance bonds and guarantee products written in terms of s 48(3) of the Short Term Insurance Act and underwritten by Mutual and Federal Insurance Company Limited.
Circumstances where, following an accident or loss, payment under the terms of an insurance policy will be demanded from an insurance company but notice of the claim has not yet been received. Insurance companies are required to set up provisions for unreported claims (IBNR).