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Secondary perils: a new challenge for the insurance industry

13 June 2024 | Featured Story

Recent floods and disruptive snowfall in South Africa have highlighted the growing threat of secondary perils - smaller but frequent events like hailstorms and wildfires that cause significant cumulative damage. In an opinion piece on the developing scope of secondary perils, Rethabile Shabalala, a Senior Associate at Norton Rose Fulbright South Africa, discusses this pressing issue.

What’s Inside… FAnews Magazine June 2024

11 June 2024 | The Stage

As I review this edition, I'm filled with pride and excitement about what we've put together. I'm incredibly thankful for our amazing team. We might be small, but we get things done. I appreciate the strong relationships we've built over the years, the smart people who share their insights with our readers, and the brands that support our efforts to improve the industry by keeping everyone informed. This edition includes a great mix of articles: technical insights, the impact of AI, the importance of the human touch, real-life examples of mistakes we can learn from, and a look at the future.

National Elections 2024. The more things change, the more they stay the same

02 June 2024 | The Stage

There is an age-old English saying that holds, “the more things change, the more they stay the same”. This is the sense your writer got when surveying South Africa’s part-baked National Elections 2024 results at the beginning of the second day of counting. The commentary that follows is based on a snapshot of the result taken with just over half of the national ballot accounted for, meaning final party support could be plus or minus a percentage point or two.

Mega fire losses force insurers to rethink thatch risk

21 May 2024 | Straight Talk

Communications seen by FAnews suggest that thatch fire risk is the latest peril that local brokers may struggle to place on cover affordably, following a number of significant fire-related loss events in recent months. This adds to the growing list of asset and peril combinations that present challenges when quoting for new business or seeking to renew a policy. Example, brokers are already having to jump through hoops to get cost-effective cover on buildings in flood-afflicted zones. We reached out to a broker and insurer for some comment.

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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Electricity and healthcare: lessons entering and exiting SA’s dual crises

18 May 2024 | The Stage

Brokers urged to get their CPD ‘house’ in order

14 May 2024 | Featured Story

Election uncertainty, a double threat to South Africa Inc and you, the people

03 May 2024 | Straight Talk

Dissing Cathie, Man-U and Wall Street analysts in a single AI-focused tech-fund presentation

19 April 2024 | Straight Talk

AI in the wings as large managers go Level 1 on BEE

09 April 2024 | Featured Story

What’s inside… FAnews Magazine April 2024

08 April 2024 | The Stage

The elevator pitch: How to read the room and other avoidable faux pas

05 April 2024 | Straight Talk

Millions here, millions there as Steinhoff saga goes other-worldly

22 March 2024 | The Stage

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