Stokes Stage
Other people’s money
Until a few minutes ago I had no idea what I wanted to write about in today’s Stokes’ Stage. Over the past week or two I’ve exhausted the e-tolling issue and written extensively about the so-called Secrecy Bill. And I’m not keen to plunge headlong into the “Police State” debate just yet. Inspiration struck in the form of a segment on the 3 May 2012 David O’Sullivan Show broadcast on Talk Radio 702. O’Sullivan was discussing the decision by direct insurer Dial Direct to terminate its Pothole Brigade project. What? These guys were doing a fantastic job of keeping Johannesburg’s roads pothole free, fixing an estimated 50 000 potholes over the past 18 months.
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Straight Talk
Complaints shed light on long term insurance trends
The Ombudsman for Long Term Insurance 2011 Annual Report reveals that 4254 insurance complaints were finalised during the latest 12 months. Over that period the scheme recovered an impressive R104 million on behalf of policyholders and awarded an additional R488 963 in compensation. A careful assessment of these complaints makes it possible for Ombudsman Brian Galgut to both identify areas of concern in the long term insurance space and comment on developing insurance trends. The report also provides an opportunity to discuss the various determinations made by the Ombudsman against insurers in 2011. A binding determination is made when the parties cannot amicably resolve a dispute.
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Featured story
Africa rising
Sub-Saharan Africa – excluding South Africa – is among the fastest growing regions in the world. The region’s 5.8% 2012 GDP growth forecast is among the reasons a staggering 66% of respondents to a recent African Development Corporation survey choose Africa as the frontier market offering the best opportunities for investors. This pro-Africa sentiment was further unpacked at a BoE media function hosted in Johannesburg on 3 May 2012. Head of Stockbroking at BoE Private Clients, Donald Rogan, used his Evolving World and Changing Markets presentation to explain the significant shift in international investor focus from frontier-Asia to Africa.
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