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Incidences where executives and directors of businesses are being held liable for their role in issues have escalated and this has led to an increase in claims frequency and severity.
Research into the magnitude of medical malpractice claims facing the South African public health system has revealed that a number of systemic shortcomings are resulting in court judgments worth millions of Rands against the country’s nine provincial Health Departments.
The commercial and business insurance industry, in the same way as many other sectors, have faced many challenges over the past year. The COVID-19 pandemic has affected the way insurers work and reshaped client behaviour. Many of the changes Standard Bank Insurance has seen will define how we interact with our clients after COVID-19 is gone.
Getting behind the wheel while your driver’s licence is cancelled or suspended could leave you in a heap of trouble following an accident. This is because driving without a valid licence is a criminal offence that may result in your insurance claim being rejected.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?