“We are seeing that the sluggish economy is leading to frugality, meaning that while high net worth individuals have the means, they are choosing to acquire fewer, but higher quality possessions. This presents an opportunity to provide specialist,…
"Rioting and looting caused an estimated R50bn in economic losses in July 2021, with the April 2022 KwaZulu-Natal flood losses estimated at R54bn. Half that total was carried by the insurance industry, while climate change-related extreme weather…
"To prevent the loss of lives and property, everyone needs to be aware of the danger of fire during this season – and throughout the year. They are mostly caused by electrical faults or carelessness. Cigarettes, matches and lighters, candles,…
"It's important to take note of exclusions such as cover for pre-existing conditions, as well as various cover and age limits. Also, make sure you are covered against potential injuries arising from any high-risk activities you may have planned…
“Money laundering allows criminals to hide the origins of money that is illegally obtained through drug trafficking, terrorism financing, human trafficking, ID fraud, money mules and corruption," says says global fraud expert and thought leader…
“GME data indicates that global insurance sector capital adequacy remains sound but has slightly declined at year-end 2022, primarily due to financial market developments such as lower asset valuations,” said Shigeru Ariizumi, IAIS Executive…
“The things you take with you when you leave your property, which some insurers call ‘all risk items’, are covered for accidental damage, theft and loss anywhere in the world as long as you have portable possessions cover. The moment these items…
“We hear stories all the time about people’s cars breaking down after alternative parts are fitted. What needs to be remembered is that original parts are specifically designed for a particular vehicle and go through stringent quality control…
“It is unfortunate that this time of the year tends to expose homeowners to opportunistic break-ins and in some instances delays on the reporting of incidents to the police and/or insurers”, say SAIA GM: Governance and Transformation, Mr. Themba…
"Events like the 2022 KwaZulu Natal floods – the single biggest CAT event in history – and more recently, at devastating flood events in the Western Cape, as well as earthquakes in Johannesburg – all contribute to the worsening outlook,"says…
"Discovery Insure is helping clients beat the increasing cost of fuel by rewarding them with up to 50% of their fuel spend back for driving well. So, when the price of fuel goes up clients can earn more in fuel rewards every month," says Robert…
“Large-scale financial prosperity for example, is connected to increased motor vehicle purchases, increased activity in construction, agriculture, and banking. The backbone of these industries is effective risk management, which is where insurance…
“It is our belief that the risk management landscape will undergo a profound transformation, with brokers assuming a central role in safeguarding businesses beyond merely securing appropriate insurance products but in proactively identifying…
"Of all the methods carjackers use, the most common place of attack is still right outside the motorist’s home – in the driveway," says Youlon Naidoo, Executive Head: Claims and Procurement at MiWay Insurance.
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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