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Vulindlela Underwriting Managers (Pty) LTD (VUM)

Vulindlela Underwriting Managers (Pty) LTD (VUM)
Company Background:
Vulindlela Underwriting Managers (Pty) LTD (VUM) was established in October 2006 after the need for another committed Taxi Insurance Provider was identified. Santam Limited is the underwriter and was involved in the formation of the company
   
Mission:
To provide affordable and sustainable insurance to Owners of Taxis, while understanding the unique needs of the Taxi Industry and the Community they serve.
 
BEE Focus:
12.5% of VUM shareholding is held by Morweng (Pty) Ltd. A further 20% has been designated to be held by the black Taxi Industry in a broad based structure. The aim is to have at least 35%, but possibly 40% BEE shareholding by the end of 2008.
 
Products:
VUM insures Minibus, Midibus and Sedan type Taxis. It is a requirement for these vehicles that the Owner is a current member of a registered Taxi Association.
VUM also insures Metered Taxis that do not need to conform to the above requirement, but the minimum fleet size for this is 10 vehicles.

The above Taxis are insured on a Comprehensive, Third Party only, or TPF&T basis.

The following extensions apply to vehicles insured on a Comprehensive basis only:

 
  • Passenger Liability;
  • Personal Accident for Driver and Passengers;
  • Fixed Expenses Cover;
  • Sound Equipment;
Zuzimali Cash Back Benefit:
 
  • A first for the Taxi Industry !!
  • This benefit is automatically included to reward Taxi Owners who do not claim;
  • 10% of Comprehensive Premiums paid, less Broker Commission, will be refunded after a 24 month period of no claims. NB: this is per vehicle, not per policy, so a fleet owner is almost guaranteed a Cash Back payment.
  • This will be in the form of either a Value Voucher to purchase new tyres, brakes or shocks at a national fitment centre, or a Cash payment, it is the client’s choice.
Administration:
Quoting and first stage Underwriting, including Voice Logged cover acceptance, is done by FSP Solutions. Policy issuing, Premium collection, Endorsements and Claims is done by VUM.
 
Contact Details for VUM are as follows:
  Phone: (031) 764-5384
  Website: www.vum.co.za
  Underwriting: Fax: 086 693 0036 or 086 693 0039. eMail: taxi@vum.co.za
  Claims: Fax : 086 693 0033 or 086 693 0034. eMail: claims@vum.co.za
  Banking Details for Premium Payment:
   Account Name: VUM Premium
   Account Number: 40 6675 9384
   Bank: ABSA
   Branch: 632005
   Account Type: Current
NB: Please use client name as reference
   
Click to view Example : VUM Taxi Policy - Schedule of Insurance

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