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Collaboration between financial sector stakeholders critical to positive economic outlook

27 July 2016

As one of the integral pillars of the South African economy, the short-term insurance industry is fundamental to the country’s financial prosperity. Without it, risks that enable economic growth and development could not be insured, thereby limiting growth and investment. It is therefore a key role-player in the broader financial sector and, as such, cannot exist independently from the South African economy.

SAIA announces new board members

22 July 2016

The South African Insurance Association (SAIA) yesterday announced the appointment of three new members to the SAIA board for the 2016 / 2017 year.

Ombudsman reports decrease in complaints against SA short-term insurers

25 May 2016

The Ombudsman for Short-Term Insurance (OSTI) last week revealed a favourable decrease in complaints received against South African short-term insurers during 2015 compared to the previous year. The total number of complaints decreased by 4.5% to 9 784 in 2015 from 10 253 in 2014. In addition to the decreasing number of complaints recorded, the report also reveals a decrease in the overturn rate from 30% in 2014 to 26.73% in 2015.

Collaboration vital to ensure that SA agri-businesses can recover from drought

18 May 2016

Despite winter fast approaching, South Africa is still experiencing the worst drought in over 30 years, with the agricultural sector having recently experienced an estimated R16 billion loss. Recent statistics released by Grain SA also reveals that total crop production in South Africa fell by 27% year–on-year, from 16.45 million tons in 2014 to 11.9 million tons in 2015. According to Dawie Buys, Technical Advisor at the South African Insurance Association (SAIA), as a result South Africa has become a net importer of maize for the first time since 2008, importing 407 366 tons between May and October 2015.

quick poll

Question

If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?

Answer

2026, as promised 2027 looks more likely Impossible to say More consultation needed

View the Results