IUM has made an interim payment of R40 million within 10 days of its client suffering a R800 million catastrophic fire, which burned for 10 days before being extinguished.
IUM immediately deployed its specialist team of loss adjusters and was able to issue an interim agreement of loss within nine days – an industry first for a claim of such magnitude.
IUM continues to assist its client in mitigating the loss and manage the claim to finalisation.
IUM, underwritten by Guardrisk Insurance Company Limited, is one of the largest capacity underwriters in Southern Africa, offering brokers and their clients comprehensive and cost-effective insurance solutions up to R1 billion for any one risk. IUM’s solid financial backing, years of insurance experience and advanced integrated risk management software systems ensure it remains at the forefront of this highly competitive industry.