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 […]
The Policyholder Protection Rules require insurers to ensure that policyholders are made aware of the existence of the time-limitation clause, as well as the implications thereof. This protects policyholders from being prejudiced by […]
Before the COVID-19 pandemic, the South African Short-Term Insurance market was on a strong growth trajectory, increasing by a solid 4.3% in insurance premium volumes, between 2018 and 2019. However, similar to the […]
Towards the end of last year we briefly reported that from 1 January 2020, retired Judge Ron McLaren will be the single watchdog for both the short-term (non-life) and long-term (life) insurance industries. In a […]
Towards the end of last year we briefly reported that from 1 January 2020, retired Judge Ron McLaren will be the single watchdog for both the short-term (non-life) and long-term (life) insurance industries. In a […]
