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Weaker Rand impacts insurance and could lead to premium increases

09 September 2015 | General

With the South African Rand recently dropping to its lowest level since 2011 having lost about 18% of its value against the US this year alone, the cost of items purchased or imported from overseas has actually risen. In light of this, it is vital for consumers who own and regularly purchase imported goods to consider the implications of the weak value of our local currency on the insured value of their items.

Businesses must prepare for new generation of cyber risks

08 September 2015 | General

• Allianz report highlights that cyber risks are evolving far beyond privacy or reputational issues. • Global cyber insurance market forecast to grow to over $20 billion by 2025. • Interconnectivity of devices and businesses drives new risk exposures with business interruption a key vulnerability, and catastrophic scenarios a possibility. • Complexity of risk means businesses need to develop a cyber-security culture with different stakeholders sharing risk management knowledge.

New water loss insurance launched to protect consumers

07 September 2015 | Product Offerings

Unexpected water loss has a negative impact on both the consumer and the council that supplies it. An unknown leak in a pipe could easily see a consumer receiving a massive bill at the end of the month, one which they will probably dispute. This means that the council is unlikely to receive payment for this water anytime soon, and thus both parties end up losing out.