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Press Archive »

Should you choose a preventive mastectomy?

Published: Fri, 17 May 13

Mastectomies are not medically necessary for many early-stage breast cancers   Actress Angelina Jolie’s revelation that she has had a double mastectomy and reconstructive surgery because she carries a cancer-causing mutation, has focussed attention on breast cancer. However, Dr Carol-Ann Benn, a specialist ...
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New FSP licensing requirements envisaged?

Published: Thu, 16 May 13

An article titled Financial Services Sector: get ready to relicense, published in Moneyweb yesterday, will no doubt come as a huge shock to many people in the financial services industry. It appears that licensing will not only apply to new entities falling under the FSB – everybody will be affected, even those ...
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FAIS: Date of First Appointment and the Regulatory Exams

Published: Thu, 16 May 13

Your date of first appointment determines by when you need to write the level 1 regulatory exam. FAIS Circular 13 of 2012 spells it out as follows: Sole proprietors, key individuals and representatives authorized, approved or appointed during January 2010 to December 2010 will be included in the extension of the ...
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Law Society concerned at Parliamentarians’ inappropriate questioning of Public Protector

Published: Wed, 15 May 13

The Law Society of South Africa (LSSA) expresses its concern at the recent tone of the questioning of the Office of the Public Protector by members of the Portfolio Committee on Justice and Constitutional Development. ‘South Africa is a constitutional democracy and not a parliamentary democracy,’ ...
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Healthy Made Easy

Published: Wed, 15 May 13

The winter chill has definitely set in and so too unfortunately has the traditional bouts of colds and flu and respiratory complications which can cause havoc during the winter months. Peter Jordan, Principal Officer of Fedhealth says that there are numerous ways that "healthy can be made easy" during ...
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How South Africa is “delivering on Africa’s Promise” in the financial services sector

Published: Sat, 11 May 13

The 23rd World Economic Forum (WEF) on Africa, currently underway in Cape Town, calls for Africa to live up to its true potential. Under the theme “Delivering on Africa’s Promise” the gathering provides an important platform for regional and global leaders to deepen the continent’s integration ...
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Appointment of Dr Gunvant (Guni) Goolab as Principal Officer of GEMS

Published: Sat, 11 May 13

The Board of Trustees (Board) of the Government Employees Medical Scheme (GEMS), South Africa’s second largest medical scheme, yesterday announced the appointment of Dr Gunvant (‘Guni’) Goolab as Principal Officer. Zava Colbert Rikhotso, Chairperson of the GEMS Board, said he welcomes Dr Goolab’s ...
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Stokvels and Burial Societies Exempt from Licensing

Published: Sat, 11 May 13

Board Notice 43 of 2013 exempts Stokvels and Burial Societies from being licensed. This obviously means that they no longer fall under the jurisdiction of the FSB. It is very specific about who is affected, and defines each of these entities in the Board Notice. If you are in doubt, kindly consult the BN for the definitions ...
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FAIS Representatives under Supervision

Published: Sat, 11 May 13

In 2008, the FSB realised that the fit and proper requirements could prove to be a major obstacle for new people entering the industry. This was particularly true of the minimum experience requirements. How can someone gain experience, if experience is a prerequisite for appointment? Other areas concerned the required ...
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The four seasons of asthma

Published: Thu, 09 May 13

The changing of the leaves from green to brown and the shortening of days indicate that winter is well on its way. Winter brings cold weather and keeps us inside, where indoor triggers such as dust mites, pet allergens, smoke and viruses can worsen asthma symptoms. In addition, the cold dry air may cause airways to ...
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How technology has altered nursing in SA

Published: Thu, 09 May 13

Netcare is using a multimodal tool developed by its nurses to become more patient centric If you have been a patient at a Netcare hospital lately, you might have noticed that the way feedback is obtained from patients has changed. Feedback cards are fast becoming a relic of the past in Netcare hospitals, as they ...
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Liberty Medical Scheme supports government’s measures to curb salt intake

Published: Tue, 07 May 13

On 17 May, World Hypertension Day, worldwide the spotlight once again falls on the silent killer: high blood pressure and hypertension, an affliction which affects one out of every four South African adults and may ultimately result in death. “As high dietary salt intake is estimated to cause about a ...
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Hannover Re makes a good start to the 2013 financial year

Published: Tue, 07 May 13

Hannover: Hannover Re posted Group net income of EUR 221. 4 million for the first quarter of 2013. 'This result is a first successful step towards accomplishment of our full-year goal, namely Group net income after tax in the order of EUR 800 million', Chief Executive Officer Ulrich Wallin stated. 'The ...
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Cyber security: it’s a war zone

Published: Tue, 07 May 13

Cyber security has moved beyond the IT department to impact governments, enterprises and individuals on a massive scale. Cyber security today is a war zone. This emerged at the opening of the 8th annual ITWeb IT Security Summit at the Sandton Convention Centre this morning. Addressing over 600 local business ...
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Congratulations to Risk Doctor and Partners who celebrate their tenth anniversary this year!

Published: Mon, 06 May 13

            Dr David Hillson FIRM, HonFAPM, PMI Fellow   Since July 2003 the Risk Doctor brand has built a strong global reputation for excellence in risk management support, blending leading-edge thinking with expert practical application. We've ...
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China and Africa to explore new opportunities to co-operate on health challenges in Africa

Published: Mon, 06 May 13

Gaborone, Botswana -- Today, Chinese and African leaders will come together at the 4th International Roundtable on China-Africa Health Cooperation to explore new partnerships to address some of the most pressing health challenges facing Africa and strengthen an innovative health partnership based on south-south cooperation ...
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African Development Bank Group approves a new Ten-Year Strategy

Published: Mon, 06 May 13

“This document reflects Africa’s vision for itself – a vision of transformation that is achievable”, said Donald Kaberuka   TUNIS, Tunisia, April 30, 2013/ -- The economic transformation of the African continent is the cornerstone of the African Development Bank Group’s new Ten-Year ...
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Swiss Re delivers first-quarter Group net income of USD 1.4 billion

Published: Thu, 02 May 13

Zurich – Swiss Re reports a very strong Group net income of USD 1. 4 billion for the first quarter of 2013, 21% higher than the USD 1. 1 billion net income reported in the prior year period. Very strong underwriting performances across Swiss Re's Property & Casualty Reinsurance and Corporate Solutions ...
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Associated Compliance Newsletter - April 2013

Published: Thu, 02 May 13

The April 2013 Associated Compliance Newsletter has been published in the Insurance Gateway® Knowledge Base. With a compliance flavour, these newsletters provide a succinct overview of happenings within the FAIS environment and being distilled as they are, are a must read for busy FSP executives ...
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FAIS: Date of First Appointment

Published: Wed, 01 May 13

The date of first appointment for the purposes of FAIS is not always that readily apparent. Moonstone replies to an enquiry recently received by them. “I have been working in an insurance department in August 2010 until November 2011 then worked in a non-insurance department from December 2011 until June 2012 ...
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From The Glossary »

Net Asset Ratio:

This represents the net approved assets, as defined by the Short-term Insurance Act, less the contingency reserve, expressed as a percentage of the greater of the premiums written less reinsurance for the current or preceding financial year. The statutory minimum ratio is 15%.
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