Insurance Risks

Insurance Risks

The Insurance Risks department is responsible for managing non-life insurance-related projects and initiatives that best serve the interests of SAIA members, consumers and the non-life insurance industry in general.

Insurance Risks

In essence, the division oversees all insurance risks, combining motor, property and other insurance. The portfolio also administers the various SAIA divisions including the Association of Marine Underwriters in South Africa (AMUSA), the South African Association of Engineering Insurers (SAAEI) and SAIA  special lines committees known as Forums.

Portfolios managed by Insurance Risks include:

Motor Insurance portfolio:

Key priorities for the Motor Insurance portfolio is to adequately and substantially address the affordability of comprehensive vehicle insurance, to contribute to road safety in South Africa and to decrease vehicle crime. Vehicle crime is addressed by funding the Business Against Crime of South Africa (BACSA) initiatives and working closely with the Insurance Crime Bureau (ICB) in fighting motor-related crimes. The SAIA Motor Insurance Risks portfolio projects are overseen by the SAIA Motor Steering Committee and related sub-Committees, Forums and Task Teams.

Current Motor Insurance portfolio projects include:   

  • Licence Plate Recognition for South Africa (LPR4SA).
  • Motor Repair Standards.
  • Cost of Parts and Quality of Repairs.
  • Road Safety Initiative.
  • Code of Motor Salvage.
  • Vehicle Damage Quantification Governing Body of South Africa (VDQBSA).

Property and other insurance portfolio:

The Property and other insurance portfolio is responsible for managing all matters related to property, and related risks excluding, motor, and specialised lines of business and is overseen by the Property Protection Steering Committee which reports into the SAIA Board Committee: Insurance Risks.

These include projects related to property protections such as fire risk management with the assistance of the Fire Protection Association of Southern Africa (FPASA).

Some current projects for Non-Motor and other insurance portfolio include:     

  • Property Protection Steering committee.
  • Skills development working group
  • Reinsurance risks 

Others:

  • Specialist Lines
  • Reinsurance