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Insurers still quantifying losses from Western Cape storm
The City of Cape Town has declared the storm that ravaged the Western Cape over three days in September ‘a major incident’.
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Read moreThe City of Cape Town has declared the storm that ravaged the Western Cape over three days in September ‘a major incident’.
South Africa’s ‘Big Five’ medical schemes have published their 2024 contribution increases, and members should prepare to pay significantly more for cover.
The FIC’s intelligence reports contributed to the recovery of more than R5.8bn in criminal proceeds in 2022/23.
There are concerns that members with Saver plans will experience severe cuts to the allocations to their medical savings accounts.
South Africa has the seventh-highest criminality score in the world and the third-highest in Africa, according to the Global Organized Crime Index.
Discovery Health, Bonitas, and Momentum Solutions say ‘increasing financial pressures’ are the reason for the contribution increases.
The High Court has dismissed the administrator’s second attempt to compel the Fund to resume processing medical scheme members’ claims.
Investors are buying more put options than call options, which is driving up market volatility.
The proposed liability exclusions in the Road Accident Fund Amendment Bill will hit medical schemes and short-term insurers hard, legal experts warn.
In line with previous financial years, FSPs will be the main contributors to the Authority’s revenue from levies.
The Office can no longer look to the FSCA to make up for any shortfalls in income.
Bridging finance from National Treasury may not be required now that it has certainty of receiving levy and special levy income.
Legal missteps in a substitution application have left a R2.5m claim against a law firm implicated in a 2010 Ponzi scheme dead in the water.
Thabile Nyaba, chief risk and sustainability officer at Old Mutual Insure, shares how the insurance industry can help South Africa to weather the economic and geopolitical storm.
The fund says there is an ‘unholy alliance’ between the Council for Medical Schemes and the administrator to ‘misinform’ medical scheme members.
With 12 038km between South Africa and Taiwan, the East Asia island’s woes as it prepares for a possible invasion by mainland China might seem far removed. However, should their ‘non-provocative’ cross-strait policy fail, the fallout will shake the world.