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D&O cover crucial during tough economic times

31 May 2021 | Straight Talk

The liability risks associated with cyberattack might dominate South Africa’s news headlines; but directors and officers at the country’s small and medium enterprises (SMEs) are just as concerned about the potential for liability claims arising from business rescue; insolvency or various events that result in reputational damage. Simon Colman, Business Head: Digital and Financial Lines at SHA Risk Specialists, says that directors face many tough decisions in navigating their firms through the post-pandemic economic turmoil, not least of which ensuring that adequate liability cover remains in place. He was commenting during an SHA webinar to address some of the critical issues facing directors and officers circa 2021.

Sense from nonsense: Seeking the illusive truth in motor claims

18 May 2021 | Featured Story

Any of South Africa’s non-life insurance brokers can vouch that there is more than one side to every motor insurance claim. The claims assessors and loss adjusters appointed to assess claims and apportion damages following an accident must often sift through three or four versions of the ‘truth’. They must consider recollections of an accident given by the insured, nominated driver, third parties to the accident, independent witnesses and law enforcement officials to name a few. Inconsistencies are inevitable given the complex interaction between broker, insurer and policyholder and the desire on the part of the insured not to compromise the claim.

Red tape; like a boa constrictor cuddling up to SA’s SMMEs

17 May 2021 | The Stage

As the South African government obsesses over conjuring up black billionaires, business owners at the lower end of the small, medium and micro-enterprise (SMME) curve are struggling to make ends meet while navigating a sea of business and tax legislation. South Africa may be open for business; but the burden of compliance is making it near impossible for owners and directors of close corporations and companies to grow profitable and sustainable businesses. Many of these businesses are trading blissfully unaware of their non-compliance with countless laws and regulations. Business owners and directors would do well to remember that their pleas of ignorance will not lessen the crime.

The R3 billion tax question

13 May 2021 | Straight Talk

It is tough being a South African taxpayer. Those of us who keep our tax affairs in order could do little more than shrug our shoulders at the news, shared during the 2021National Budget speech, that the South African Revenue Services (SARS) would get R3 billion more to ‘rebuild’ its collection machinery. Not only do we pay for countless incapable and underperforming public sector entities; but we now have to dock up extra money so that a previously functioning SARS can clean up a mess of its own making. The question your clients will be asking is not so much whether this financial windfall will solve SARS’ revenue collection dilemma; but whether their tax affairs will come under greater scrutiny going forward.

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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More questions than answers as dirty power ships drop anchor

Up in smoke… Are we doing enough to mitigate fire risks?

30 April 2021 | The Stage

Anxiety cost your clients R100 million in 2020

29 April 2021 | Featured Story

What’s inside… FAnews Magazine February 2021

15 April 2021 | The Stage

Passive investment megatrend blurs market price discovery

11 April 2021 | The Stage

The onus of proving a claim under lockdown

07 April 2021 | Featured Story

Brokers be warned… Group risk premiums set for take-off

06 April 2021 | Straight Talk

The whooshing sound of deadlines rushing by…

29 March 2021 | The Stage

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