Santam’s claim statistics from the past few years point to the undeniable truth that the risk landscape has rapidly become more hostile. “From abnormally high fire risk across South Africa, to the rise in extreme weather events and the general deterioration of infrastructure – both commercial and personal lines markets are facing greater risks than ever before,” said Quinten Matthew, Executive Head of Specialist Business at Santam.
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The term “accountable institution” is defined as a person or organisation referred to in Schedule 1 of FICA (Financial Intelligence Centre Act) that carries out business of any entity listed.
Read moreThe insurance market, according to Terence Williams, CEO of Aon South Africa, is in the midst of its most consistent shift in a number of years. “In certain countries, sectors and lines of business, buyers are experiencing rate increases, capacity shortages, and a more critical attitude from insurers towards risk selection,” said Williams.
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