Mechanic don’t Panic
Advertorial from Zurich Quarterly by Didier Geffroy, Chief Executive Officer, Auto Trade Underwriting Managers
Auto Trade Underwriting Managers (ATU), specialising in the motor trade sector, formed a strategic partnership with Zurich South Africa earlier this year, enhancing both companies’ visions for achieving quality and innovation in this unique, yet expanding market. ATU provides cover solutions for motor dealerships, vehicle service and repair centres as well as fuel retailers, among others. Here are some upcoming developments…
Current risks customers are facing include potential hail damage (leaving vehicles in the open in the summer months); power surges (not caused by lightning but that affect plant, machinery and other equipment); theft (in all forms); and exposure to defective workmanship claims, due to negligence and lack of skills. We are also seeing an increase in drunken and reckless driving related incidences, often attributed to inexperienced and under-aged drivers and drivers with previous accident records and “run-ins with the law”. Interestingly, we have also seen a rise in the number of vehicles written off whilst they are on the premises of dealerships.
Within such a niche sector, we certainly see some interesting claims from time to time. A car wash attendant at a dealership, despite being under strict instruction not to drive vehicles, opted to move a rather expensive car from the wash bay to an open area nearby so he could continue washing the other vehicles in the queue. Unfortunately, in the process, he mistook the accelerator for the brake as the vehicle began to roll forward, which caused the vehicle to rapidly increase in speed and crash into some fencing, before falling over four metres into a drain.
Based on research conducted by market experts, it is predicted that in the years to come, second-hand vehicles will dominate the motor trade landscape in terms of, inter alia, vehicle sales, bringing about a different kind of exposure in respect of motor trade risks.
We are in discussions with Zurich to launch a unique environmental liability offering and fuel guarantees to our ever-growing fuel retailer customer base. We have many more new cover offerings in the “pipeline” which we will roll out one by one to ensure maximum impact and reach – with these new innovations, our in-depth knowledge of the sector and Zurich as our partner, ATU has no intention of slowing down.
I&DRS work side by side with both ATU and Zurich. So mechanic don’t panic, we have the niche cover your require. Contact us for competitive quotes. 011 484 9401