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Liability insurance: is the cure worse than the disease?

01 April 2014 | Short Term

Anusha’s head was spinning. Time slowed as her world turned round and round. Many of us reach that stage where our lives are out of control, and now, as she tried to reach out to her friends and colleagues, they all just stared back at her in dumbfounded shock.

The personal lines broker – not the king of price!

01 April 2014 | Short Term

With the recent results announcements from short-term insurers, one cannot but wonder what the role of the personal lines broker will be in the not too distant future. The fact is that almost all the traditional insurers made underwriting losses on their intermediated personal lines insurance. Compare that to significant double digit underwriting margins from the established direct insurers (Outsurance had an underwriting margin of 25% for 2013) and you know that the market is changing.

Industry consolidation – beneficial to the industry?

01 April 2014 | Short Term

The South African financial services industry is currently facing a number of cost challenges which is affecting the way companies do business. In addition to the rising economic cost of doing business is the impending implementation of systems and processes to fully adhere to any new regulations.

Notification to an insurer of circumstances likely to give rise to a claim

01 April 2014 | Short Term

Where is the line between the notification to an insurer of circumstances likely to give rise to a claim and a notification just in case a claim arises? The notification obligation has to be applied objectively but taking into account the insured’s knowledge. An insured need not infer the likelihood of a claim from the mere happening of an event.

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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