MUA announces new product enhancements
23 April 2014 | Company News & Results | MUA Insurance Acceptances | Warwick Scott-Rodger, MUA
MUA Insurance Acceptances, the leading underwriter specialising in personal lines insurance solutions tailored for high net worth individuals, has launched a new private watercraft product, in addition to other value-added product enhancements, as the company effectively begins its relationship with new risk carrier, Auto & General Insurance Company.
This is according to Warwick Scott-Rodger, Head of Brokers at MUA Insurance Acceptances, who says while MUA has offered watercraft cover in the past; it was not underwritten by MUA itself. "We have worked tirelessly to ensure our new watercraft product provides watertight cover for our clients’ specific needs.”
The new product provides comprehensive cover for watercraft up to a maximum of 8 meters which are used for private purposes, says Scott-Rodger. "If the watercraft is less than 4 years old at the time of claim MUA will cover the insured for a new or similar watercraft, subject to the sum insured stated in the policy, while if the watercraft is older than 4 years MUA will settle at market value.”
He says clients also receive automatic liability cover for R5 million which covers third party legal liability arising out of piloting, carrying of passengers and towing of water-skiers. "Water-skiers themselves will also benefit from this cover. Other benefits include cover for repatriation costs, locks and keys, medical expenses and a reward for information in the event of a disappearance.”
However, highlights Scott-Rodger, the new watercraft product is not the only new benefit for existing and new clients. "MUA has made some adjustments to its personal liability cover, with potentially being a market first to automatically include Trustees & Members Liability (including Errors & Omissions) cover of R3 million. This will cover the insured against personal legal liability arising whilst holding a position for no reward, on a body corporate, homeowners association, non-profit organisation, charity or educational body.”
He says another product enhancement for the personal liability product is the automatic inclusion of Business Premises Liability cover of R3 million. "This will provide ‘slip and trip’ legal liability cover whilst the insured is conducting business at a home office situated at the insured premises. This has often been a gap in most personal insurance policies of those who work from home”
Last, but not least, MUA is excited to announce its new ‘Drive Home Safe’ value-added benefit, says Scott Rodger. "This is a service where a professional chauffeuring company will pick the member and their car up and take them home safely. Users are entitled to two trips per month with a total of 12 trips in an annual period and it is available within a 50km radius of city centres in Johannesburg, Pretoria, Durban, East London, Port Elizabeth, George and Cape Town. This service is optional at an additional monthly premium of R30 and is operated by our MUA Assist line.”
"At MUA, we are constantly looking for new ways to bring more value to our clients so consumers and brokers can be rest-assured there are future product enhancements in the pipeline,” concludes Scott-Rodger.
