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An erroneous “stop order” causes confusion

30 August 2018

Policies are written on two bases: “claims made” or “claims occurring” (sometimes also “claims arising” or “losses occurring”). The basis between the two simple terms, in policy wording, can be a determining factor of whether a claim gets rejected or not.

Shocking statistics reveal things are getting worse

26 July 2018

The cost of crime in South Africa is very difficult to determine, however, there is no doubt the losses are in excess of hundreds of billions of Rands. Bryte Insurance released its Q4 2017 Crime Tracker; an indicator of long term crime trends in South Africa as captured by insurance claims for the period October to December 2017. The Q4 2017 Bryte Crime Tracker measures the annual change, on a quarterly basis, in crime-related claims (due to hijacking, robbery, theft and malicious damage) committed against South African businesses.

Change is needed, now and for the future

26 June 2018

When looking at the life insurance industry, we know that change is needed to remain competitive. FAnews spoke to Schalk Malan, CEO of BrightRock to ask him why change is needed in the group risk market, why it is so important for insurers to constantly innovate in the life insurance space and how insurers can offer more sustainable efficient cover in contrast to traditional group risk products.

Forward thinking is the best thinking

31 May 2018

The 2018 South African Underwriters Associations (SAUMA) Annual Conference, which is one of the very prominent events happening every year, was an extremely well attended event filled with valuable and relevant content. SAUMA always manages to keep a good balance between SAUMA specific, regulatory and political/economical content to keep members engaged on the real topical issues of the day.

quick poll

Question

The strongest deterrent against FSP compliance missteps is or should be:

Answer

A criminal conviction Debarment Fine or penalty Any of the above can work

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