SOP : Reporting of property loss/theft or damaged goods

May 29
2 min read

29 May 2025

The Purpose of this SOP is for each department to maintain up to date records of company assets, in their departments and how to report any lost / damaged / or stolen assets.

2. Roles and Responsibilities: The following parties are responsible for the correct information and documents in order to process a claim: ● All applicable parties as listed above

3. Procedure: The following documents and information are needed to report lost /damaged/ or stolen assets. 3.1 When reporting STOLEN assets, follow these steps: ● Immediately inform Insurance risk asset management about the theft ● Within 48 hours, go to the nearest police station, report the theft and obtain a police report, affidavit and case number. ● Provide the date, location and time of the theft incident? ● Describe where entry was gained? ● If applicable, provide the precise time the theft occurred? ● Provide the date and time when the theft was discovered?

● State what time the branch alarm was activated and who activated it?

● Indicate whether the premises were occupied at the time, if so by whom? ● Take photos of the location where the theft took place ● Take photos of security measures, such as beams and camera’s, around the branch. ● Contact the security company to obtain an alarm report for the dates the theft occurred ● Contact the supplier to get a new quote for replacing the stolen asset (verify with insurance department) ● Describe what security measures will be added to minimize future theft (eg, adding an electric fence)

3.2 When reporting DAMAGED assets, follow these steps: ● Notify insurance risk asset management about the damaged assets. ● Provide the date, location and time of the incident? ● Explain how the assets were damaged? ● Provide the date and time the damage was discovered? ● State if the premises were occupied and by whom? ● Provide the make, model and serial number of the asset ● Take a photo of the damaged asset ● Contact the supplier to assess the damage and provide a damage report. ● Request an invoice from the supplier for assessing the damaged asset. ● Contact supplier for a new quote (verify with insurance department) ● Arrange for the damaged asset to be delivered to Insurance asset management for the insurance company to collect.

3.3 When reporting LOST assets, follow these steps: ● Immediately report the lost assets to Insurance risk asset management. ● Within 48 hours, go to the nearest police station, report the loss, obtain a police report, affidavit and case number. ● Provide the suspected date of loss and where loss could have occurred? ● Describe how the loss happened? ● State whether the premises were occupied at the time of loss and if so by whom?. ● Phone the supplier to obtain a quote for the lost asset (verify with insurance

4. To report any lost, stolen or damaged assets, contact Insurance risk asset management using the following methods: ● Whatsapp the insurance department. ● Email: natasha@wisani.co.za ● Phone call: 0799102407

By Order Natasha Bloem Insurance Risk Asset Management Wisani / NLA

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