Risk Management

Food and beverage industry is confronted by increasing risks

Global political volatility is leading to heightened levels of political violence and political risk

Aon publishes its 2018 Risk Maps for political risk, terrorism and political violence.

The top 5 things financial services need to know about GDPR

Financial services providers work with large amounts of personal and often confidential information every day. As a result, companies in this sector have had their hands full trying to prepare for the looming Protection of Personal Information Act (POPIA). But there is another piece of compliance legislation that will come into effect much sooner –the EU General Data Protection Regulation (GDPR) – and for many, this isn’t even on the radar. Gartner’s report, GDPR Clarity: 19 Frequently Asked Questions Answered, predicts that by 25 May 2018, when the legal framework goes live, less than 50% of all organisations impacted by it will be fully compliant.

Natural catastrophes and fires demand rigorous risk mitigation for business to remain insurable

Property-related and business interruption losses as a result of fire and weather catastrophes have increased dramatically in South Africa, with 2017 having the highest underwriting losses on record. Insurers incurred material underwriting losses driven by major natural catastrophes including the Knysna bush fires, the Transnet Rossburgh warehouse fire (the single largest fire loss) in Durban, a large hexane plant fire, a tornado in Gauteng and multiple heavy rainfall, hail and flooding events in Gauteng and KZN.