Thatch Risk Acceptances - Dec 2019

T H AT C H R I S K A C C E P TA N C E S

THATCH RISK ACCEPTANCES

The Thatch Insurance

Specialists PRODUCTION: Timothy Reeder

With more than 20 years’ experience in its specialist field, Thatch Risk Acceptances (TRA) is the only South African company to specialise exclusively in the diverse, demanding market of residential thatch insurance, offering the broker market an independent option with specialist expertise.

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“Thatch Risk Acceptances believe in managing a risk, and not merely insuring it.”

Thus begins the company founded in July of 1998, with the specific aim of servicing the diverse and demanding needs of the thatch risk market in South Africa. “We work with the Broker to minimise the risk. Major exposures, improvements and requirements are identified through a comprehensive underwriting procedure, adding value for the client.”

TRA’s specialist domain of thatch and its many intricacies spans private

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homes residential associations and commercial settings, the latter two of which can encompass body corporates, housing estates, schools, churches and offices and a whole has more. All of this is designed to give the client complete peace of mind when it comes to the all-important matter of their personal insurance.

“We are the only company to specialise exclusively in residential and commercial thatch insurance,” TRA underlines, “and over the years we have built a strong understanding of the requirements linked to this market.”

PROTECTION IS PARAMOUNT With the beauty of a thatched roof comes a whole host of considerations to manage to ensure that it is fraught with the fewest risks possible. It must, it goes without saying, be installed properly, and of tick the boxes of design, specification, construction, workmanship and material.

Then comes the responsibility of maintaining the installation properly, preventing it from being damaged over a period of time by mildew, damp, or wet- or dry-rot. Thatch, while attractive, is also highly combustible,

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At Sedgwick South Africa (Pty) Ltd we offer a unique blend of stability, innovation and technical ability across a variety of disciplines. We provide an in-house reservoir of experts to deliver consistent service from a network of seven operational offices across South Africa. Our adjusting capabilities have also extended into the Sub Saharan African Regions as well as providing assistance to our Global colleagues when catastrophic situations arise.

Our loss adjusters manage corporate, commercial and domestic claims, specialising in the following specific areas:

Major and Complex Loss

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All aspects of Marine claims

Fixed rate fast track claims

Where we service We have serviced many countries outside of South Africa, right up to Nigeria on the West Coast and Tanzania on the East Coast, including Angola, Mozambique, Zambia, Botswana, Malawi, Congo, Ghana, Kenya, Tanzania, Madagascar, Seychelles and Mauritius For all your loss adjusting needs, please contact ken.maclean@za.sedgwick.com. Our team are ready to assist you.

Sedgwick South Africa (Pty) Ltd Registered in South Africa No. 1992/007300/07 | Registered Office: 20 Georgian Crescent East, Hampton Office Park, Bryanston 2191 Tel: +27 11 557 9000 I www.sedgwick.com/za

THATCH RISK ACCEPTANCES

and becomes more so over time, as the thatch layer becomes thinner and heats up more quickly.

While direct lightning strikes are relatively rare, they still can happen and are apt to cause fires. The combination of South Africa’s high lightning flash density statistics, and the popular trend all over the country to use aesthetically pleasing thatched roofs for residential as well as commercial buildings mean that the threat of lightning damage is very real.

A lightning strike can cause widespread chaos as much as it can personal devastation, and thatch’s tendency to become ‘fluffy’ at its edges leaves it particularly prone to ignition as, if moist, methane and other flammable gases can be formed.

Other disasters, such as wildfires, are also far more likely to occur in South Africa than elsewhere, with hundreds each year making adequate protection an absolute must, particularly given thatch’s innate combination of beauty and risk. Electrical fault is a universal menace, and is singled out as the most common cause of fires in formal residential areas. Open flames used for cooking or heating are typically to blame for fires in informal settlements.

As a result, it is especially crucial that those benefitting from the glories of a thatched dwelling firstly do all they can to reduce the risk posed by fire, implementing as much prevention as possible and taking steps to minimise the damage should a fire occur. The next key line of defence is to take advantage of the valueadding, comprehensive underwriting procedure developed by TRA over its more than 20 years in the business.

// A THATCHED ROOF IS REGARDED AS A NON-STANDARD CONSTRUCTION BY MANY INSURERS //

THE OBVIOUS CHOICE Thatch Risk Acceptances is placed to offer a complete service to its broker base, backed by a full mandate from Compass Insurance Company.

Compass operates in the short-term insurance sector, offering a valueadded proposition to the market and focuses primarily on providing customised, innovative and costeffective insurance solutions.

As a result, TRA can provide quotations, issue policies and manage the entire claim settlement process from beginning to end. Dealing with the broker network is also advantageous for TRA, as it is able to focus solely on the thatch industry and thereby have the latest knowledge and capabilities at its disposal.

Choosing Thatch Risk Acceptances also lands the customer the full backing of Hannover Re, whose gross premium of more than EUR 19 billion places it third among the largest reinsurance companies in the world. It transacts all lines of property and casualty and life and health reinsurance, and is present on all continents with around 3,200 staff, boasting a worldwide network of more than 100 subsidiaries, branches and representative offices.

Quite apart from the strength of its partnerships, TRA itself is of course an immovably established firm with a proven track record of over 21 years, priding itself on delivering a personalised service with knowledgeable and friendly staff.

Absent here are the dreaded call centres which can amplify what can be an already stressful, complicated process, in favour of quick turn-around times on quotes, endorsements and claims.

“We have the independent ability to accept the risk, no matter how big or small,” TRA continues. “What is more, the premium quoted is the premium payable; there are no hidden costs or charges. We can provide a complete service to the broker fraternity, and full legislated commissions are paid.”

// THATCH RISK ACCEPTANCES BELIEVE IN MANAGING A RISK, AND NOT MERELY INSURING IT // When we last caught up on the status of the business, Natasja Blok, Managing Director of Thatch Risk Acceptances, highlighted this personal touch and unabashed dedication as key aspects of its success. Although the company is composed of a relatively small staff complement, each member has vast experience in the thatch insurance industry. “Our niche has never changed in over 15 years, and this is one of our key success factors,” she told us. “When you have a niche, you should stick to it and do what you know best.

“Our staff eat, drink and sleep thatch,” Blok was keen to impress upon us. “They work with it every single day and they are extremely knowledgeable about it. They could answer any question that could come up about thatch and this sets us apart from other players.

“In addition, we don’t run call centres. We are very focused on personal service and in today’s fast pace of business, this is still appreciated by many brokers when they experience our personal touch.”

WWW.TRA.CO.ZA

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