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Your clients will get nothing if the electricity grid goes pop

16 February 2023

After 200-plus days of loadshedding in 2022 and Stage 2 or higher each day this year, South Africans are gatvol. Unfortunately, the ongoing threat to the national power grid has caught the attention of the country’s short-term insurers too, forcing them to start the New Year by informing brokers and policyholders of yet another general cover exclusion. Those familiar with the workings of the insurance industry will not be surprised to learn that insurers and reinsurers consider a national electricity grid failure to be uninsurable.

It is important to understand the difference between loadshedding & electrical grid failure

13 February 2023

Loadshedding, as we understand it today, is controlled interruption of electricity supply to the public. These scheduled interruptions do not affect any municipal institution; however, electrical grid failure will affect municipalities as well as any public infrastructure.

Market Volatility Drives Demand for Payment Protection

13 February 2023

South Africa is currently experiencing challenging political and economic conditions, which has a direct impact on the financial and trading performance of businesses.

Cybercrime: one of 2023’s biggest risks to SA businesses

01 February 2023

The advent of the fourth industrial revolution has engendered several technological advancements. Innovations such as artificial intelligence, the internet of things and robotics have fundamentally changed the way the world operates when it comes to business.

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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