Commission Payable
NASRIA Ltd undertakes to pay the Insurer / Broker 12.5% on motor and 20% on non-motor and Agent 10% on motor and 15% on non-motor, of the premium earned by NASRIA Ltd in respect of the insurance placed with NASRIA Ltd. All payments to be made to the Insurer / Broker / Agent in terms of this Agreement shall be effected on a VAT inclusive (where applicable) basis.
Unless otherwise agreed to in writing, the payment obligations and charges expressed to be payable by NASRIA Ltd to the Insurer / Broker / Agent in terms of (a) shall constitute NASRIA’S entire remuneration liability to the Insurer / Broker / Agent.
NASRIA Ltd to pay the Insurer / Broker / Agent by the 15th day of the month, all commissions due on premiums received during the immediately preceding month
Claims Procedures
- All claims must be channelled to NASRIA Ltd via the Head Office of the member which has issued the NASRIA Coupon/Policy.
- The member must look upon and deal with all potential NASRIA claims as claims upon its own office.
- Claims notified to Members, and subsequent information coming to the knowledge of Members, must be reported to the Association without delay.
- Before submitting a claim to NASRIA Ltd, the Member must endeavor to ascertain that the claim is excluded in terms of all other policies of insurance in force at the time.
- Loss Adjusters must be appointed to investigate claims whose quantum of damage is expected to exceed N$10.000,00. Adjusters are to be appointed exclusively by the Nominated Insurer. Intermediaries may not appoint Adjusters to deal with Nasria claims. The Member is to monitor the Adjusters’ reports and to forward them to NASRIA promptly. The Adjuster must be instructed not to disclose the results of his investigation to the Insured or any Intermediary until advised to the contrary by NASRIA Ltd. Adjusters must, where appropriate, agree a reasonable quantum with the Insured with a view to satisfactorily bring the claim to finality.
