Tag: insurance contract

Insurance claims can be repudiated for many varying reasons – from the most obvious to the least expected reasons. One of the best ways of trying to avoid an insurance repudiation is to understand your contractual duties stemming from your policy.

The insurance aspects of film production shouldn’t be left to chance and producers should consider the very diverse risks accompanying the development of movies or series. The role of commercial and film producers’ insurance cover is to protect the financial interests of the production funders against unfortunate events that may cause physical damage or delays resulting in a loss.

In 1985 the South African insurance industry voluntarily launched the Ombudsman for Long Term Insurance system. The Ombudsman for Short Term Insurance (OSTI) was launched some four years later in 1989. These bodies operated independently and separately from one another until last year.

It is important if you are working from home to check your policy and take the time to notify your insurer of this change in risk profile, to ensure you are properly covered if your risk has changed, you have acquired additional equipment or IT infrastructure, and so on.

It is rare, but not uncommon, for the relationship between the customer and his or her insurer to sour. This may result in the insurer having to take what seems like drastic action by cancelling the policy of the customer. The problem is that once you are fired from one insurer, it is very difficult to get a decent insurance policy elsewhere at the same premium rate, given that you will have a record.

As the new normal requires for people to continue working from home, one needs to take the time to review their portable work devices and ensure that they are adequately insured from theft or unforeseen damage. The awareness around the need for insurance, both in one’s professional and personal capacity has increased tenfold since the onset of the pandemic.