Don’t let non-disclosure sink your business: insurance insights for owners
Business owners who neglect to inform their insurers of changes risk denied claims, policy voidance, and even lawsuits.
Insurance
Insurance sector proves resilient amid global uncertainty
Industry leaders at the IAIS annual conference unpack key risks facing the global insurance market, including the impacts of rising interest rates, geopolitical threats, and the growing role of AI.
High Court reinforces key principles of disclosure in insurance
Applicants must fully disclose all relevant information during underwriting, even if it was divulged in past applications.
Vaping epidemic among teens fuels debate on Tobacco Control Bill and insurance impact
A UCT-led study finds that nearly one-third of Grade 12 learners regularly engage in vaping.
Clientèle aims to expand mass market reach with another acquisition
Following its recent purchase of 1Life, Clientèle has signed an agreement to buy micro-insurer Emerald Life.
Survey highlights recovery in SA insurance industry
Non-life insurers bounced back from a loss of R16.7bn in 2022 to a profit of R13.7bn in 2023, while life insurers posted significant profit growth, says KPMG.
OUTsurance delivers strong financial results with 20.3% earnings growth
OUTsurance South Africa reported an 8.4% increase in gross written premiums for its personal insurance segment and a 71.2% improvement in operating profit for its business insurance.
Navigating insurance exclusions: key lessons from the NFO’s rulings
Thoroughly reading and understanding insurance policies and exclusion clauses benefits both parties, leading to fairer and more equitable outcomes for everyone involved.
Ruling highlights need for clear crop insurance policies in the face of climate risks
The insurer bears the risk of any uncertainty or inconsistency in policy documents.
Santam reports 34% net income growth despite rising weather-related claims
The group attributed the turnaround in motor insurance to managing claims inflation and improving risk selection, resulting in a significant reduction in claims frequency.
Partially occupied offices pose insurance risks for business owners
While several large companies have spearheaded a gradual return-to-work, the hybrid working model has remained sticky for many South Africans.
How MBSE shaped the careers of three rising stars in short-term insurance
The top three achievers in MBSE’s Higher Certificate in Short-term Insurance share their experience with the course and its impact on their careers.
Allegations that Sanlam adviser forged signatures don’t stand up, Tribunal finds
It was a ‘material factor’ that the specimen signatures were in hard copy, whereas the disputed signatures were electronic.
CrowdStrike sensor glitch: implications for cybersecurity and insurance
The CrowdStrike Falcon sensor update-induced global system crash could be the most significant cyber accumulation loss event since NotPetya in 2017.
FSCA provides an update on progress with the move to COFI
The Authority’s latest three-year Regulation Plan does not specify by when the three-phase transition project will be completed.
Authority highlights regulatory focus areas in 2024
FSCA pinpoints lack of oversight by KIs, FICA non-compliance, and unauthorised copy trading and funeral insurance business.
Property fire claims: how business owners can protect their premises this winter
Paying for fire damage without insurance can be financially devastating for both individuals and businesses.
