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2021… respond, recover and thrive

12 January 2021

Looking at the financial services industry, and how organisations can remain resilient, a report from the Deloitte Center for Financial Services titled ‘2021 Insurance Outlook… Accelerating recovery from the pandemic while pivoting to thrive’, explored key issues that could have a significant impact on the market and your business in 2021, with 200 industry leaders weighing in on their companies’ COVID-19 recovery efforts.

Kidnapping and murder rife in insurance fraud

07 December 2020

The South African Insurance Crime Bureau’s (ICB) 2020 Annual Report sheds some light on the extent to which criminals and criminal syndicates will go to extract money from the insurance industry. It reported on the outcome of investigations into various life and non-life insurance frauds that were committed in recent years, starting with two successful cases taken through different divisions of the South Africa High Court.

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.

quick poll

Question

Do you think short-term insurance broking will survive the AI plus humanoid robotics age?

Answer

Human first always Not a chance Possibly maybe Yes, but reimagined

View the Results

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

28 October 2020

UK non-life policyholders find patchy relief

28 September 2020

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

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Talked About Features / Straight Talk