Latest on VESA and tracking companies

Policy holders who have been asked by their insurers to have Matrix, Netstar or Tracker tracking devices installed in their vehicles need not fear that these devices are no longer acceptable to insurers, as a result of the resignation of these three compa

“The South African Insurance Association (SAIA) is confident that the resignation of these three tracking companies was not a result of not meeting VESA standards, but rather a result of difficulties these companies had with the structure and approach of VESA.  The SAIA therefore has recommended to its members that they continue to approve Tracker, Netstar and Matrix systems on an interim basis until the issues are resolved or alternative measures are put in place,” says SAIA Executive Caroline da Silva.

The SAIA is currently involved in discussions surrounding this issue in an effort to resolve it.  The talks include all parties involved, including VESA, the three tracking companies that resigned, as well as other VESA members.

“We expect that these discussions will be lengthy and that the matter will not be resolved, or alternative initiatives (if necessary) will not be in place, within less than three months. Before a solution is found, however, the SAIA has requested that the status quo will be maintained with regards to existing policy holders as well as potential customers,” added Ms Da Silva.