“The adoption of the ICS and these updated standards represent a pivotal moment for the global insurance sector. Taken together they will better safeguard the interests of policyholders and enhance financial stability at a time when a strong…
“The winners represent a commitment to demonstrating innovation, leadership, and excellence that sets the standard for F&I professionals across the country,” said Brandon Cohen, Chairperson of NADA, the National Automobile Dealers Association.
"Business Email Compromise is a sophisticated form of cybercrime that targets organisations by infiltrating their email systems to initiate unauthorised transactions. A common tactic involves altering banking details on legitimate invoices,"…
“’Insurance in a Box’ is an innovative insurance solution that addresses many of the challenges of why insurance penetration and financial inclusion remain challenging in African markets - namely access and distribution, affordability, technology,…
“The insurance industry is consistently tracking emerging risks. We recently noticed a trend where fraudsters are targeting insurance companies using social engineering to obtain policyholder information. The fraudster poses as a client or broker…
"These increasing loss trends are influencing insurers' perspectives on issues such as capacity deployment, especially in the US, and the profitability of both older and future underwriting years. Collaboration among stakeholders is crucial…
"Arriving at an agreement on a global Insurance Capital Standard as a prescribed capital requirement is a landmark achievement for the IAIS. This decision reflects our unwavering commitment to enhancing global insurance supervision and ensuring…
“One of the key issues is a lack of business and insurance knowledge. Many business owners in township areas do not fully comprehend the risks their businesses face or the financial implications of being uninsured or underinsured. Without this…
“In a competitive market for used vehicles, offering added value is essential to capturing consumer interest. This aligns with findings from the NIQ Mid-Year Consumer Outlook: Guide to 2025, which highlights that consumers tightening their belts…
"Financial institutions, including banks, insurers and their controlling companies have just over six months to establish and maintain a cybersecurity framework, policies, and procedures that meet industry standards and best practices to adequately…
"Collaborating with a reputable broker can support policyholders in fulfilling disclosure obligations. Brokers help business owners understand policy terms and recognise both obvious and subtle risks," says Jan Hendrik Botha, Head of Underwriting…
"To complicate things further, insurance policies often have limits on coverage amounts for specific types of property or damage. These limits can result in situations where the actual cost of repairs or replacement exceeds the maximum payout…
"As an insurer and global trade enabler, we are uniquely positioned to help companies and the overall economy to grow in a more sustainable way. This is why we aim to lead by example and reduce the carbon footprint of our own operations through…
“Nathan is a strong leader with outstanding experience driving the People agenda in large organisations. He will be a great addition to the team as we continue to focus on promoting an inclusive, high-performance culture across Lloyd’s," says…
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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