Insurance, at its essence, is a source of finance to pay for losses, when they occur. In theory, the contributions of the many pay for the losses of the few. The risk transfer to an insurer is subject to conditions but there is the advantage of stability in settled law and practice. For larger organisations, ... Read More »
The last quarter of 2020 is in full swing and little did we know what an interesting and strange year it would be. Apart from the many ups and downs personally as well as financially, most of us had to make drastic changes to our finances to adapt to salary reductions and loss of income. Piet Wolmarans Managing Director ... Read More »
Six-months ago, at the start of lockdown, the majority of South Africans set up their workstations in their own homes in an effort to stop the spread of COVID-19. With the introduction of Lockdown Level 1, more of the workforce can now return to their respective offices, but will they?
“Remote working ... Read More »
As the world continues to grapple with the “wicked problems” created by the Covid-19 pandemic, governments able to efficiently mobilise their diverse talent pools appear to be presenting their citizens with better outcomes than those unable to do so, according Lusani Mulaudzi, President of the Actuarial ... Read More »
What can happen when sprinklers meet human error?
The Liberty Mutual study documented fires in industrial occupancies where sprinklers were present and should have operated, or perhaps even did operate, but were shut off either before the fire event or prematurely during the fire. These actions, known ... Read More »
The risks for the insurance industry are increasing by the day because of structural designs, structural failures, sub-standard construction levels, floods, and fire damages.
Structural designs to ensure compliance became so problematic, that an independent review became inevitable without ... Read More »
The Ombudsman for Short-term Insurance (OSTI) has released its quarterly Briefcase (attached). It contains news from the editor, case studies, consumer tips and general information on what the Ombudsman has done during the past three months.
In this edition, the Briefcase tackles claims around stolen luggage, ... Read More »
AGCS report: traditional property and liability claims have been subdued during lockdowns but this was more than outweighed by a surge in Covid-19 related claims notifications, particularly from the entertainment industry. Impact of the pandemic will shape future loss trends for companies in the mid- and long-term ... Read More »
28 September 2020 – COVID-19 may be contributing to the growing number of consumers who are using digital channels to take up or maintain their life insurance. This is according to FNB Life, which reported a 22% year-on-year increase in customers who take up or maintain their life insurance via FNB’s digital ... Read More »
Consumers demand more monetised value and digital convenience
Opinion by Cornel Schoeman, Chief Operating Officer of GENRIC Insurance Company Limited
Until recently, traditional insurance models have remained remarkably resilient in the onslaught of digital transformation and tech innovation that has ... Read More »
Over the last two years the South African Motor Body Repairers’ Association (SAMBRA), has been lobbying hard to remove restrictive Insurer Supplier Panels and OEM approval programmes, which effectively preclude consumers exercising their right of choice and damages small business’ who have spent years ... Read More »
Marilyn Faugas, currently Head of Market Management for AGCS France is appointed Regional Head of Distribution for AGCS Mediterranean & Africa Region. The current Head of Underwriting Property for AGCS France, Jean-Baptiste Regnier, is promoted to Regional Head of Property, AGCS Mediterranean & Africa Region ... Read More »
Germany Corporate Payment Survey 2020
Paris, September 15, 2020 - German companies want to cash in as early as possible, according to the fourth edition of Coface’s survey on corporate payment experience in Germany, conducted in July and early-August 2020, with 753 participating companies located ... Read More »
A bumper year: In 2019, gross financial assets jumped by 9. 7% and reached EUR 192 trillion
Crisis? What crisis?: Global financial assets increased by 1. 5% in the first six months of 2020, driven by fast-rising bank deposits
Trend reversal: The wealth gap between rich and poor countries has widened again
South ... Read More »
In these uncertain and unpredictable times, service reliability is crucial. But, how many companies actually practice what they preach, are accountable for their actions, stick to their promises and put their money where their mouths are? Now is the time to make firm commitments, and stick to them. ... Read More »
Sandwich Panel related fires have resulted in major property damage and business interruption losses over the years.
What are Sandwich Panels?
Sandwich Panels or Composite Panels are structures made up of three layers: a low-density core and a thin metal or plastic skin-layer bonded to each side. Over ... Read More »
Johannesburg – September 16, 2020 – Allianz Global Corporate & Specialty (AGCS) appointed Asheen Maikoo and Piet Schutte as Senior Risk Engineers on September 1, 2020, to continue to provide world-class risk consulting services to help businesses in Africa manage, prevent, and ... Read More »
Well-known collections and payments company, QLINK Holdings (Pty) Ltd, today announced it has rebranded Insure Group Managers Services (IGMS) to QSURE. Chief Executive Officer, Ian Thompson said the rebranding follows an intensive process to conceptualise and position ... Read More »
Johannesburg/London/Munich/New York/Paris/Sao Paulo/Singapore – September 09, 2020 – Liability exposures for companies around the world are increasing. Factors such as rising litigation, collective redress and large court verdicts, costly and frequent recalls in the automotive and food sectors, the disruptive ... Read More »
This study is the very first Coface survey on corporate payment experience in the Netherlands. Originally, this survey had been conducted between February and early-March 2020 (the first quarter of 2020, Q1 2020), with 301 participating companies located in the country. However, at the end of the survey period, COVID-19 ... Read More »