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Proximate cause – hacked computer of negligent employee

07 June 2016

A US bank employee left her individual token in her computer and left the computer running at the end of a work day. Overnight two unauthorised wire transfers had been made to different banks in Poland and one of $485 000 could not be recovered.

Acceleration clauses and prescription

06 June 2016

If a loan is repayable in instalments and includes an acceleration clause that if the debtor defaults on paying any instalment, the creditor is entitled on notice to terminate the loan agreement and claim the full balance outstanding, the debt ordinarily only prescribes three years after the date of the notice claiming the full outstanding balance.

Consequences of the relationships of unmarried couples in SA

03 June 2016

Eric Juan Spiridion Duplan v Rasmus Elardus Erasmus Loubser NO and Others (24589/2015) [2015] ZAGPPHC 849 (23 November 2015).

Insurer’s failure to pay claims in time or fully may be a ‘wrongful act’

02 June 2016

The Indiana Supreme Court in the US ruled that an insurer may be entitled to reinsurance coverage for nearly all its costs to defend and settle allegations that it failed to timeously or fully pay medical reimbursement claims.

quick poll

Question

The strongest deterrent against FSP compliance missteps is or should be:

Answer

A criminal conviction Debarment Fine or penalty Any of the above can work

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