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If you’ve got coal, you’ve got problems ~ Buffett: Solving SA’s power conundrum in an age of clean emissions and climate change

27 November 2020

Warren Buffett, often introduced as the Oracle of Omaha, illustrated why he deserved this title by painting coal investments with a tar brush some four years ago. On 6 May 2017 he told a gathering of Berkshire Hathaway shareholders that coal was unlikely to make a comeback in the United States. “If you are tied to coal, you’ve got problems; I do not think there is any question [over whether] coal is going to go down as a percentage of revenue,” he said. A telling statistic is that America’s coal industry, which employed 862 000 workers in 1923, accounted for just 81 000 jobs by 2017.

Hardening rates and the pandemic

09 November 2020

Hardening rates and mistrust following non-life insurers’ handling of pandemic-related business interruption claims could make for tough negotiations when commercial non-life insurance brokers sit opposite their small and medium enterprise (SME) clients to renew policies. Recent news flows suggest that the next round of renewals could contain sharp increases across a range of insured perils. Global reinsurer Munich Re recently reported that the combination of a hardening insurance market, ‘lower for longer’ interest rates and larger than forecast pandemic and non-pandemic losses would make insurance covers more expensive, particularly for long term risks in third-party liability and other lines.

Financial adviser’s battle cry: My kingdom for a digital solution

28 October 2020

In act 5, scene 4 of Shakespeare’s Richard III, King Richard, who had lost his horse on the battlefield, shouted: “My kingdom for a horse”. Financial advice practices that are still writing business and servicing clients on outdated legacy systems, using paper-based processes, are probably just as frustrated. Your 21st Century battle cry should be: “My kingdom for [a practice-fit] digital solution”. The need to incorporate technology in advice practices was highlighted during a panel debate held on the second day of the 2020 Financial Planning Summit, a virtual CPD initiative run by The Collaborative Exchange.

UK non-life policyholders find patchy relief

28 September 2020

The long-awaited ruling in a test case brought by the United Kingdom’s Financial Conduct Authority (FCA) against eight non-life insurers active in that market was handed down by the UK High Court on 15 September 2020. The Court was set the difficult task of deciding whether 21 ‘typical’ sample wordings used in non-physical damage business interruption (BI) insurance policy extensions would indemnity insureds for claims triggered by pandemic. The FCA expected around 370 000 policyholders, on cover under 700 policy wordings, issued by 60 different insurers to benefit from legal certainty following the ruling.

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

View the Results

Prescribed assets will not pull South Africa Inc from the economic abyss

31 August 2020

Too early to tell how coronavirus impacts disability insurance

30 July 2020

Retirement savings outcomes remain in the doldrums despite regulatory push

07 July 2020

Where principles of equity and fairness hold sway over policy wordings

23 June 2020

Innovate… it’s time

11 June 2020

Getting to grips with business interruption cover during pandemic

14 May 2020

An opportunity to engage with clients

05 May 2020

The blurring line

14 April 2020

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Talked About Features / Straight Talk