The new and revised SAIA code of conduct to which short term insurers are to adhere to, highlights the need for greater transparency and accessibility of information between the insurer and the insured.

Several key requirements as detailed in the new SAIA code of conduct document indicate just how useful and necessary a professionally detailed household inventory report is.

Specifically of importance are the following points :

1) Insurers and their associates must inform policyholders of their legal duty to disclose information. In addition, the importance of proper disclosure by the policyholder and the consequences of non-disclosure must be explained.

2) The insurer and its associates must assist policyholders to insure their assets, including motor vehicles, for an appropriate value at inception stage, as well as at renewal stage. (The onus remains on the policyholder to ensure that his/her assets are insured for the correct value, but it is expected that insurers will encourage and assist policyholders to determine the correct sums insured on a  regular basis.)

Domina has always been at the forefront of assisting short-term insurance providers to deliver this kind of assistance to their clients, by conducting professional detailed inventories and reports that facilitate the kind of information disclosure and transparency now mandated by the new SAIA code of conduct guidelines.

Domina welcomes the new guidelines and looks forward to continuing being of assistance to short term insurance providers and their clients in meeting the code of conduct obligations.