![]() Most of our clients are now installing solar systems because of the incessant loadshedding that are being faced by South Africa. A number of the Insurers are now endorsing policies that effect 01/11/2023 with this and I think there is merit in us conscientizing our clients so that they understand and also know what the policy says in respect of the risk and also what happens if they do not adhere to the warranties : Installed Solar System - means a system comprising of a solar panel array, inverter and other electrical hardware which has been installed by a Suitably Qualified Electrician. Such system comprises of either an Electrical Installation (inclusive of but not limited to inverters and generators) or one or more solar panels that uses energy from the sun combined with Electrical Installations or battery power to generate electricity. Suitably Qualified Electrician - means a licenced electrician who has completed a formal qualification in order to fulfil competency requirements essential by law and in conjunction with relevant work experience as is necessary to perform the job for which they are employed. Such licenced electrician must be registered in terms of the Electrical Installation Regulations (2009) as amended from time to time and must either be a licenced electrician or must employ one as a contracting firm or individual in their full time employ for the purpose of fulfilling Electrical Installations. Electrical Installations - means machinery and equipment, in or on any premises, that is used for the transmission of electrical energy from a point of control to a point of consumption anywhere on the premises, inclusive of any article that forms part of such an installation, irrespective of whether or not it is part of the electrical circuit. THE ENDORSEMENT
The option to replace, reinstate or repair your Installed Solar System remains at the Insurer’s discretion and You must have a valid claim for the Installed Solar System. INSTALLED SOLAR SYSTEM CERTIFICATE OF COMPLIANCE WARRANTY You agree that You will obtain the Certificate of Compliance (COC) once testing, commissioning and hand over has been completed. Insurers reserve the right to call for the COC in the validation of any claim made hereunder if this has not been provided to them at the time of Insurers accepting cover for the Installed Solar System. You will forfeit Your right to claim hereunder if You fail to comply with the COC requirement and the Insurance company(Insurers) will be entitled to reject Your claim if they establish that You have not complied with the provisions of this Installed Solar System Certificate of Compliance Warranty. SPECIFIC EXCLUSIONS: The Insurers will not indemnify You for:
If the Insurance company allege that loss or damage is not covered by this Policy, the burden of proving the contrary will rest with You and they will be entitled to reject Your claim.
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For our investors investing in Morningstar Managed Portfolios, click below to access the latest performance snapshot, market commentary and market performance summary:
Morningstar SA Managed Portfolios Morningstar Global Managed Portfolios (USD) Market Commentary - SA and Global Market Performance Summary - SA and Global Morningstar's Electric Observer takes an in-depth look at investment opportunities throughout the value chain as EVs and hybrids will be 2 of every 3 autos sold globally by 2030. In 2022, battery electric vehicles represented nearly 10% of global auto sales, up from a little less than 6% in 2021. Much of the growth occurred in China, which has been a leader in EV sales over the past decade. However, with national EV subsidies in China expiring in 2022 and far lower sales in the U.S. and Europe, the market questions if EV sales can continue to grow without subsides. Source: Morningstar
Current market sentiment towards SA government bonds is especially negative. Both local and foreign investors are becoming increasingly concerned about the debt hangover effects and higher borrowing costs arising from continued fiscal slippage on an already bloated balance sheet. Ahead of the 2024 National Election, there is also the potential risk of increased populism affecting more disciplined and pragmatic management of government spending. Source: Morningstar
With equities no longer the only game in town and free money perhaps something of the past, asset allocation has become so much more complicated and a somewhat fascinating puzzle to solve. With the dislocation present in equity markets from a regional as well as sector perspective – where could money be made in the next decade? Because starting yields from fixed income assets today are much higher, could one argue that bonds have more roles to play today than the traditional uncorrelated nature to equities? How do you construct a portfolio to ensure robustness against a world of glaring problems and how do you ensure a real return for clients given much higher inflation these days? Source: Morningstar
![]() In South Africa, Medical Aid normally means private Medical Aid. The following are the general process for hospitalisation in South Africa: 1. Purchase Medical Aid: First, you need to purchase an appropriate Medical Aid plan, which is usually a contract with a private Medical Aid company such as Discovery, Momentum, Bonitas, etc. Different plans offer different cover and benefits. 2. Hospital Admission: If you require hospitalization, you need to register at the hospital's front desk or reception desk. You will need to provide your Medical Aid information, such as your Medical aid membership number, as well as personally identifiable information. 3. Authorization and Approval: In all cases, the Medical Aid company needs to approve your hospitalization before the procedure or treatment begins to ensure that it is covered. The contact number for Discovery Medical Aid is 0860-99-88-77 Momentum Medical Aid is 0860 117 859 Bonitas Medical Aid is 0860 002 108 Insurance companies also provide WhatsApp customer service You should obtain an authorization number, known as an authorization number in English, and provide it to the hospital and doctor. In the case of emergency, hospitals would contact your Medical Aid provider and request authorization, but if it is a planned procedure, most doctors would ask you to contact Medical aid to request it. Information you need to get from the doctor before procedure are:
4. Payment and Claims: Once you are discharged, medical expenses will be paid directly to the hospital by the Medical Aid company, provided they are in compliance with your insurance plan. You might be required to pay a fee yourself, which is called a co-payment/deductible. For the doctor's fee, if you pay the doctor directly, you can later submit a claim to your Medical Aid provider to get a partial or full refund of the fee you paid, depending on your plan type. 5. Communication during the hospitalization: During the hospitalization, the Medical Aid provider may need to maintain communication with the hospital and your doctor to ensure that the treatment provided complies with the insurance plan's regulations. Please note that different Medical Aid plans may have different policies and procedures, so it is best to learn more about the benefits of the plan you choose before purchasing Medical Aid. In addition, depending on your Medical Aid plan, you may be required to pay certain co-payments and follow specific claims procedures. Therefore, it is recommended to contact your Medical Aid company or Medical Aid consultant for detailed information. If you would like to know more about what you are covered under your medical aid, please contact us. You may also read our article: What Is Covered In Your Medical Aid? for more information. For our investors investing in Morningstar Managed Portfolios, click below to access the latest performance snapshot, market commentary and market performance summary:
Morningstar SA Managed Portfolios Morningstar Global Managed Portfolios (USD) Market Commentary - SA and Global Market Performance Summary - SA and Global |
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