Leza Wells, chief product actuary and acting chief of marketing, at life insurer FMI (a Division of Bidvest Life Ltd) fills us in on her role...
Evan-Lee Courie 3 May 2021
Insurers have warned for years that the increasing size of vessels is leading to a higher accumulation of risk. These fears have been realised by the large container ship currently blocking the critical Suez Canal sea route...
There is a common misconception that the International Financial Reporting Standards 17 (IFRS17): Insurance Contracts accounting standard applies exclusively to insurers...
Dewald van den Berg 28 Jan 2021
CTU will, for the month of April and potentially May, reduce all CTU policyholders' insurance risk-premiums by 35%, and in addition, no inflationary risk-premium increases will be processed for April and May but will be deferred to June..
Ole!Connect's, Desere' Orrill, takes a look underneath the hood of autonomous transportation, what it means to our future mobility, and whether we are ready to relinquish the wheel, or not...
Deseré Orrill, Issued by Ole!Connect 31 Jan 2020
Meanwhile, the Advertising Regulatory Board has done some weapons-grade 'virtue signalling' by banning a radio ad for Volkswagen's Amarok bakkie...
Brendan Seery 10 Dec 2019
Sea level rise caused by global warming is already causing damage to public and private coastal property in Cape Town. In some areas retreat to higher ground may be necessary...
Steve Kretzmann 2 Sep 2019
Heat waves, droughts, severe flooding, fires and other effects of climate change are no longer a rarity, but are becoming the norm. And the resultant impact on the insurance industry is huge...
Werner Bosman 12 Jul 2019
Autonomous or self-driving vehicles may appear to be a new phenomenon, but key transport manufacturers and stakeholders have been developing smarter driving systems for some time...
The new IFRS Insurance Contracts Standard (IFRS 17 - Insurance Contracts) will impact insurance companies in South Africa including those offering motor vehicle insurance, life insurance and medical schemes...
Business travel is part of the day-to-day job for a growing cohort of employees, but brings with it its own set of risks, demanding that organisations exercise the utmost duty of care...
The long-awaited amendments to the Financial, Agricultural and Construction Sector Codes were announced recently - but what changes do these codes mean for companies in 2018...?
Insurance companies are required to comply with the applicable financial reporting standards...
Denise Durand and Charl Williams 11 Sep 2017
The new version of the IFRS is a completely new way of thinking for insurers...
Whether one is considering taking a leap into entrepreneurship or thinking of adding to one's growing business portfolio, investing in the fuel retail sector might offer...
James Noble 15 Feb 2017
Even the most hardcore Luddite can't ignore the rate at which technology is changing South Africa's financial services industry...
Dominique Collett 31 Jan 2017
On any building project, meticulous attention to detail in the planning and design stage, leading to comprehensive and clear drawings, specifications and schedules of finishes, is crucially important, when presenting information to prospective builders...
Allen Bodill 6 Jul 2016
Managing risk and promoting safety is paramount in engineering practice. Successful projects are not selected but shaped with risk resolution in mind...
Alvin Dye 27 May 2016
Michael Frans, head of business operations: automotive at T-Systems South Africa...
Lauren Hartzenberg 23 May 2016
Large engineering projects are characterised by substantial irreversible commitments, skewed reward structures when succesful, and high probabilities of failure...
Alvin Dye 14 Apr 2016
Shipping losses continue their long-term downward trend...
The latest Global Status Report on Road Safety for 2015 by the World Health Organisation (WHO) reveals that South Africa has more drunk-driving related deaths than anywhere else in the world...
Geocoding is not new to the South African market; however its use has historically been relegated to the Geographical Information Systems (GIS) team and had limited use within mainstream business...
Gary Allemann 1 Apr 2015
The price of motor insurance could decrease once South Africa's motor insurers begin sharing data and implement a process of placing all driving records and policy details online...
A new business productivity improvement IT application, called Appsent, has been introduced to the South African market. The application is specifically targeted at business owners, HR managers, line managers and operational staff in South Africa businesses who have staff reporting to them.
1st for Women has launched a new campaign called, 'Giving, it's what women do', in support of the 1st for Women Foundation, which focuses on two main causes: gender-based violence and cervical cancer. (video)
The CareCross Health Group, which aims to provide quality care to all South Africans, regardless of means, leverages synergies between its health care provision, insurance risk management, professional services and manufacturing capabilities, as well as managing an extensive network of health care professionals and pharmacies.
Men are riskier than women when it comes to car insurance.
Since the Gender Directive was passed into European Union legislature, women are paying much more for car insurance than they were a year ago. According to the new legislature there has been a ban on insurance companies using gender as a risk rating factor.
Many consumers may unknowingly be paying more than they should for their car insurance - often one of their biggest short-term insurance payments - due to a failure to assess the value of their vehicle when it comes time for annual insurance policy renewals.
Alf James 27 Nov 2012
A short term insurance product that provides employee income insurance for temporary incapacity for a period of 12 months, has been launched by Advanced Incapacity Management Solutions (AIM Solutions). The product, underwritten by Lion of Africa Insurance, differs from other insurance products in that it has been designed to manage claims rather than increase premiums.
The call from the Road Traffic Management Corporation (RTMC) to suspend drivers licences of motorists convicted of certain traffic offices - including driving under the influence of alcohol or other narcotic substances, reckless, negligent or inconsiderate driving and excessive speeding - places offenders at risk of insurance claim repudiation should they be involved in an accident while their licences are suspended.
Many of the risks business owners face needs to be managed tightly to prevent and contain potential losses. While a well-structured insurance policy forms a vital part of doing so, effective and comprehensive risk management requires an ongoing, holistic and proactive approach to the various risks faced within specific segments of the markets that businesses operate in.
Yurika Pistoriu 14 Mar 2012
Commenting on the European Union's new gender ruling, which prohibits insurance companies from offering cheaper car insurance to women on the basis of their gender, Robyn Farrell, MD of 1st for Women Insurance Brokers, states that this would lead to women subsidising the riskier driving habits of men.
The MiWay MiBike product offers clients the option to cover their bikes for market, trade or retail values or a special agreed value on custom bikes or collector bikes. A further feature is the 24/7 roadside service bundled into the premium.
Primedia Unlimited has announced the launch of brandyourcar.com, which offers advertisers the opportunity to brand privately owned vehicles, selected from a database of individuals who made their vehicles available for branding. The consumer's vehicle then becomes the medium as a moving billboard within targeted audience communities and lifestyles.
Conventional personal insurance policies may not cover local people planning to transport paying guests during the World Cup period. Clients hosting paying guests must check the exclusions in their policies before they offer transport or airport transfers to guests.
Clint Harker 15 Apr 2010
Rising inflation doesn't only put pressure on the Reserve Bank - it also tests short-term insurance cover. Macro factors like inflation and rising import costs on the back of a weaker Rand can drive up replacement values of many household items, from audio equipment to furniture and appliances.