Conventional wisdom says that living expenses rise uniformly with inflation, so many financial plans are based simply on that. But analysing the spending patterns of retirees shows us that the data tells a different story.
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The South African insurance industry is a vital socio-economic sector that provides a critical safety net to society. This was crystalised in 2021 as we continued to grapple with the fallout from the […]
Santam paid out R24.5 billion (2020: R21bn) in claims last year, the highest gross claims pay-out in its 104-year history, the country’s biggest short-term insurer said in its financial results for the year […]
Events over the past year, both locally and internationally, have shifted the focus on a number of material terms and conditions in policy documents. Pre- and post-Covid A media release published in November […]
The systemic nature of cyber risk provides intermediaries with an unprecedented opportunity to show-case their value to clients, Andrew Coutts, Santam’s head of Intermediated Distribution, told the recent InsureTalk18 online conference. It is […]
Short-term insurance intermediaries who want to remain relevant will have to evolve from being insurance facilitators to professional risk advisers. This one of the key take-outs from Santam’s 2021 Insurance Barometer. “Much of […]
Last year’s High Court judgment involving Constantia Insurance Company’s Prime Living CoverGrow and Prime Living Legacy policies had a sequel before the Financial Services Tribunal in October, when it was asked to reconsider […]
Last year’s High Court judgment involving Constantia Insurance Company’s Prime Living CoverGrow and Prime Living Legacy policies had a sequel before the Financial Services Tribunal in October, when it was asked to reconsider […]
Possibly the single biggest pandemic issue affecting the short-term insurance industry was the contingent business interruption (CBI) controversy. At first, insurers denied liability, claiming that the lockdown was not an insured peril. It […]
Possibly the single biggest pandemic issue affecting the short-term insurance industry was the contingent business interruption (CBI) controversy. At first, insurers denied liability, claiming that the lockdown was not an insured peril. It […]
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
A prominent article in my early morning paper contained rather scathing comment on the short-term insurance industry, claiming that it was making a profit while its clients were languishing because their claims were […]
A prominent article in my early morning paper contained rather scathing comment on the short-term insurance industry, claiming that it was making a profit while its clients were languishing because their claims were […]
Failure to disclose material terms and conditions has been the downfall of many an adviser when a complaint is laid with the FAIS Ombud. Admittedly, 20/20 vision is only possible in hindsight as […]
Failure to disclose material terms and conditions has been the downfall of many an adviser when a complaint is laid with the FAIS Ombud. Admittedly, 20/20 vision is only possible in hindsight as […]
A Deloitte survey last year determined that Internet-connected offerings, such as motor telematics and home insurance linked to home sensors, cause apprehension among many customers, as they do not feel comfortable sharing data […]
