Intersect has, in collaboration with a leading insurer and insurance intermediary, compiled a comprehensive and tailor-made insurance product for the sectional title schemes it manages.

This product, with industry-leading cover and hugely competitive rates, will ensure that the very important role that trustees are entrusted with, being the insurance of the buildings, fixtures, plant and equipment, will be met with exceptional due diligence and care.

Ensuring that the requisite cover is in place, at the current replacement values, is an incredibly important task, not only to mitigate issues at claims stage, but also to satisfy bondholders and members alike.

Not only has Intersect secured a comprehensive product at exceptional rates, but, in doing so, has also streamlined the renewal, payment and claims processes involved in the insurance of buildings and related covers.

Intersect managed to negotiate cover better than most vanilla, or even specific, building insurance policies and has negotiated rates based on its collective clients’ insurance replacement values, which exceeds R12bn.

Regular, in some instances annual, updated valuations are obtained, to ensure that the replacement values, at any point in time, are adequate, thus mitigating the risk of averages being applied - a requirement of the prevailing acts.

Annual review of the portfolio, including rates, claims and cover, are held every January, with adjustments being made on 1 March each year.

Intersect has been administering community schemes since 1971, and in 2021 will celebrate 50 years of sound property management.