Q: How long has Hypasurance been in the Insurance Business?
A: Hypasurance starting trading in 1972 as a long term insurance broker and moved into the short term insurance side a year later.
Q: How long have the management been involved in the Insurance business?
A: The Managing Director, Tom Besseling, has been involved in the Insurance business since 1968 and Sylvia Viljoen has been involved since 1983. Tom Besseling has been the Managing Director of Hypasurance since it’s inception and Sylvia Viljoen has been with Hypasurance since 1983.
Q: Are the mentioned individuals registered with the FSB in terms of the FAIS Act?
A: Tom Besseling and Sylvia Viljoen have non-conditional licenses to operate and are the registered Key Individuals in terms of the Act. Besides the license incorporating various disciplines they are specifically licensed to provide both intermediary services and advice for both short-term Commercial business and Personal Lines business.
You can verify what products Reginald Thomas Besseling is licensed to give advice and provide intermediary services on on our Compliance page. You can use the same link to confirm the status of Sylvia Mavis Viljoen.
Q: Is there a contract of service or employment that exists between the above mentioned principals and Hypasurance Insurance Consultants (Pty) Ltd?
A: Yes besides the ordinary letter of first appointment, there is an addendum to both these letters of appointment as follows:
- Sylvia Mavis Viljoen is licensed to ONLY give Advice and provide Intermediary Services as per her license conditions contained on the FSB website using the link mentioned above, and Hypasurance will not accept any responsibility for any Advice or provision of Intermediary Services in terms of any other product not licensed for.
- Reginald Thomas Besseling is licensed to ONLY give Advice and provide Intermediary Services as per his license conditions contained on the FSB website using the link mentioned above, and Hypasurance will not accept responsibility for any advice or provision of Intermediary services in terms of any other product not licensed for.
Q: What percentage of business on the books is represented by Short Term Insurance?
A: 90% Short Term and the balance is Long Term.
Q: Does Hypasurance provide it’s clients with the option of placing it’s business with more than one insurer?
A: Hypasurance has contracts with most of the leading Insurers and Underwriting Managers in South Africa, and in particular contracts held for the provision of cover for Body Corporates.
Q: Does that mean that Hypasurance does not have any particular ties or obligations to any particular Insurer?
A: That is quite correct, we are completely independent and as a consequence can place business wherever we need to. Also it must be borne in mind that we are not life agents doing Short Term insurance as a side issue, it is the main source of income for Hypasurance.
Q: Does this independence help you in providing a level of service which is better than most?
A: Yes most definitely, because we are independent we are not bound by the implications of a ‘master servant’ relationship that exists with most tied financial services providers. This means that we will demand the utmost level of competence from the Insurers we deal with which in turn gives us the power to deliver a high level of service.
Q: It has been said that you favour ABSA Insurance Company above other Insurers in your Body Corporate book. If this is so, why?
A: We have established a relationship with ABSA Insurance Company, which goes back to the early 1980’s. This relationship developed as our book of body corporate business grew, especially when we took over Ronald Zidel Insurance brokers who were the brokers for Ronald Zidel Estate Agents and Lewin Ross Munro Estate Agents. It has been mutually beneficial and the understanding of what is expected in terms of service levels is deep seated, when that falters we will not hesitate to use the other avenues available.
Q: Does that also mean that you do not place body corporate business with other Insurers?
A: On the contrary, at renewal we will always endeavour to get better premiums and policy conditions and then ask ABSA to match or better the terms. As previously stated we do place business with all other Insurers and Underwriting Managers and our book is split between all the service providers we deal with.
Q: Can you name these other Insures with whom you have contracts?
A: Yes, we are obliged in terms of the FAIS Act to tell with whom we have contracts with, they are the following:
- Mutual and Federal
- Santam
- Compass
- Zurich
- Auto and General
- CIA
- CSure
- First Property
- TIC
- CEU
- Stalker Hutchinson
- EXSure
- Liberty Life
- Discovery
Q: You have been quoted as stating that you do not require claim forms to filled in by the client, especially an ABSA client, is this the case?
A: That is correct, all we need is a quotation from the repairer and we will do the rest including the arranging of geyser replacements. This alleviates a tremendous amount of work that would normally have to be done by the client or the portfolio manager of the Managing Agent.
Q: Do you have the systems and staff available to be able to back up your claims of excellent service?
A: We have at our disposal one of the most advanced computer systems in the insurance broking market. The client has access to live claims tracking, accessing policy information online including online policy wordings and online claim forms. This is a service, which is not available from any other Broker in South Africa. We also have a compliment of staff who understand the systems and who are competent in all spheres of the business.
Q: Do you have a Compliance Officer as required by the FAIS Act?
A: Yes we do and his as well as our supporting processes details are obtainable on our Compliance page.
Q: Do you have a Complaints Resolution Policy Plan in place in terms of the Act?
A: Yes. Please see our Compliance page.
Q: Do you have a Freedom of Information Act Manual available?
A: Yes. Please see our Compliance page.
Q: In terms of the FAIS ACT you are supposed to have a Conflict of Interest Policy in place, do have such a document available?
A: Yes. Please see our Compliance page.
Q: Do you have the contact details of both the Short Term and Long Term insurance Ombudsman?
A:
FAIS Ombud
Ms Noluntu Nellisa Bam
Financial Services Board
PO Box 74571
Lynwood Ridge
0040
Tel. Number: (012) 470-9080
Toll free: 080 011 0443
Fax. Number: (012) 348-3447
E-mail: info@faisombud.co.za
Website: www.faisombud.co.za
Ombudsman For Short Term Insurance
P O Box 32334
Braamfontein,
2017
Tel. 011 726-8900
Fax. 011 726-5501
Sharecall: 0860 726 890
E-mail. info@osti.co.za
Q: Do you hold professional indemnity insurance?
A: Yes the cover is held with Carmargue. The amount is the minimum as laid down by the Financial Services Board. Please view our Compliance page for more details.