"As the flood peril remains in the spotlight, we have deployed geocoding and geo-mapping technology to better understand our on-the-ground risk accumulation and to identify high flood zones. This helps us to ensure sustainability of cover for…
"South African municipalities seem to face a simple infrastructure problem. But dig deeper, and a more complex challenge emerges: many cities don't know what they own. Many municipalities can't tell you the exact number of transformers they…
"The dynamics of the buy-side environment are being reshaped by a combination of financial, competitive and strategic forces. Understanding these drivers is essential for buyers seeking to identify opportunities, manage risks and position themselves…
“We are proud to be part of Tokio Marine and the establishment of this new green innovation that will help us unlock new opportunities. It will provide a single point of access for businesses across multiple sectors at every stage of their energy…
“So, if you do not stand to suffer financial loss directly from loss of or damage to an insured item, insurance will not cover such loss or damage. The lack of insurable interest, in essence, invalidates any expectation of indemnification. This…
“Yet, without insurance, a single fire or flood can mean permanent closure, triggering job losses and supply chain disruption. Insurers cannot close the protection gap alone. Joint investments with government in infrastructure resilience, education,…
"While major claims returned to expected levels - driven by the devastating California wildfires - disciplined underwriting ensured the underlying result had the capacity to absorb such volatility. Investment performance was strong, and the…
"No business can afford to halt operations due to an unforeseen event like fire, theft or flood. That’s why business interruption cover is such a critical, yet often overlooked, component of a commercial policy. The risks involved will also…
The mobility industry is undergoing profound transformation. Gorav Dheer, Underwriter Digital Solutions & Strategic Advisor Liability Global Risk at HDI Global, explains the key developments shaping the industry. He outlines how companies can…
“There is a very fine line between optimism and misrepresentation and for directors and officers, the challenge lies in balancing a compelling narrative for investors with transparent, accurate and complete disclosures. As regulatory scrutiny…
“Insurance is fundamentally about trust. As we build more automated, AI-powered experiences for customers, from claims processing to personalised product design, we must ensure those experiences are explainable, inclusive, and bias-free. That…
“We remained resolute in executing our strategy, focused in South Africa on retaining our leading position in the broker distribution channel across personal, commercial and specialist lines of business, whilst growing market share in the direct…
"For smaller insurers, regulatory compliance is becoming an unwieldy burden. The recent implementation of the IFRS 17 accounting standard was a wake-up call: most did not have the in-house actuarial or accounting firepower to meet the standard's…
"With rising litigation risk, regulatory scrutiny, and potential conflicts of interest between defence and coverage teams, the reservation of rights letter is a critical tool for legal risk management and compliance in South Africa's maturing…
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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