Newzroom Afrika

2022-04-15 01:25:15

15 Apr 2022 @ 01h15 - Insurance Ombudsman

Broadcast Type: Interview; Tags: Free, State, Gauteng, Check, Transnet, Clearing, Agents, Status, Delay, Departures, Long, Office, Ombudsman, Short, Term, Insurance, People, Recover, Flats, Happened, Shared, Belongs, Find, Wonderful, Work, Word, Colleague, Recklessness, Policy, Term

Download Clip

Order Transcript
(Additional charges may apply)

meanwhile the office of the ombudsman for short term insurance says many people not recover may from the flats as because happened in many shared their belongs sufficiently find where we that for wonderful for want a better word work of let me just colleague recklessness there is usually a policy term that requires that the insured must take all reasonable and precaution care to either prevent minimise loss damage or and if it is found that one did not conduct oneself accordingly in that regard the claim could be claimed and that basically what means is when you are given warnings like those we need to heed them it is considered and that if without or despite rather having been given the warning you continue to behave in a manner that previously you did or you proceed without taking precautions that could amount to recklessness in which insurance case your company clip explained mokoena also explain ngwenya also how insurance insurers rather come up their monthly with premiums a lot of times insurers would rate risk based on data collected time over and it will then be possible through modelling to bring to predetermined what is to happen likely and therefore makes the premiums the and risk profiling to the data been collected in collected that has now now if find that you there is a bit of a a a difference between what you can predict and the real outcomes it throws modelling of your and therefore you pretty start much have to from from scratch trying to build on the new up information and if information isn't the new even consistent then it in a does put bit of a tough situation unfortunately and that that could also entail and telling some hardship on on consumer the part of the and that it's likely that insurers then opt may to rather be safe than sorry and on the side of the higher premiums than lower premiums as a result how after the break available have a look at sport your