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Intermediaries are still an anchor in the insurance industry

02 June 2014 | Short Term

The Ombudsman for Short-Term Insurance (OSTI) recently released its Annual Report for 2013. The report is an important feature in the annual calendar of short-term insurance players as it reveals how insurers fared on claims disputes which customers referred to the Ombudsman for intervention.

Cyber risks and POPI - a changing game

02 June 2014 | Short Term

Cyber risks could be the next big trigger for lawsuits against directors. This will be triggered if they fail in their duty of care by not taking preventative measures against risks such as phishing, improper data manipulation or data loss. These directors could be held responsible for company and shareholder losses.

UMAs can navigate changing landscapes

02 June 2014 | Short Term

Before I entered the industry, many of the first underwriting management agencies (UMA) exploited the benefits of a UMA structure brilliantly. The benefits are unequivocally capital levels, compliance requirements, and other no lesser support functions like relationships with the likes of the Ombud, says Chris Barry, Managing Director of HCV.

Building a profitable business during uncertain times

02 June 2014 | Short Term

The 2013/2014 financial year has not been an easy year for the short-term insurance Industry. The hail catastrophes in the Gauteng area during November 2013, followed by severe storms in the Western Cape, Kwazulu Natal and Mpumalanga have meant that loss ratios across all insurers are under severe pressure.

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

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