CIB News -SASRIA Rates Adjustment

SASRIA will be reducing the rates on certain classes of business as of 1 May 2010 (Circular 448) and CIB will be adjusting the rates accordingly. Lists of the SASRIA premiums which will be affected in your instance will be available on request to assist you with the reconciliation of the figures and for informing your clients.

1. The minimum premium for Fire domestic (F1) class has been reduced to R 30.00 (annual) and R 3.00 (monthly).
2. The bus (M5) rate has been reduced to 0.4% (annual) and 0.04% (monthly).

3. The monthly money (MON) rate has been corrected to 0.72%.

The effective date for the new rates is 1st May 2010 for both monthly and annual businesses.

Should you have any queries, please contact the SASRIA offices.