industry news
Santam on outstanding CBI and SASRIA claims
With all the prominence given to this matter, it is difficult to believe that some 40% of Santam’s qualifying clients have yet to submit their claims documentation. Santam issued another appeal to clients with CBI policies, who previously indicated they would claim, to submit formulated claims and supporting documentation, so that these can be finalised […]
best practice
Tax obligations after civil unrest
In an article titled A guide to Employers’ tax obligations after damage to their premises, Joon Chong and Nina Keyser from Webber Wentzel provides valuable guidance on tax options available to business owners. “The recent looting and damage to businesses in KwaZulu-Natal and Gauteng has had a devastating impact on many businesses, both small and […]
technologically speaking
Disruption – more of the same?
Our technology survey indicated that the long-term, short-term and investment sectors all experienced disruption over the past 18 months. Results (Fig. 1) indicate that the long-term sector was most affected, but both the short-term and investment sectors were not far behind. Fig. 1 – Financial services sector impacted by Covid I think that […]
compliance and legislation
The basics of Employment Equity
Last week we published An Introduction to Employment Equity in which we shared information about who is legally obliged to comply with the requirements of the Employment Equity (EE) Act. We also indicated that the reporting window opens on 1 September and a deadline of 15 January 2022. Today we list some of the more practical […]
Tracking vehicle crime statistics over the past 25 years
In a media release on 3 August, vehicle tracking company Tracker provides details of changing trends in the theft and highjacking of vehicles over the past 25 years. The statistics indicate that the level of vehicle crime was significant in the early years of vehicle tracking, with vehicle crime activities affecting 4.5% of Tracker’s customer […]
Stronger transformation laws in banking and finance sector
An article in Businesstech reports on the latest developments in addressing historical and structural inequalities in the financial sector. National Treasury is developing new legislation that will “seek to enhance the transformation imperatives of the South African financial services sector”, says finance minister Tito Mboweni. Answering in a recent written parliamentary Q&A, Mboweni said that […]
Proposed changes to short-term Policyholder Protection Rules
In its Statement supporting proposed amendments to the policyholder protection rules, the FSCA suggested changes to the PPRs in general, as well as ones relevant to the Long-term and Short-term industries, specifically. This article lists two proposals relevant to the latter. Extending STIA PPRs to commercial lines business It is proposed that the application of […]
SA Financial Ombud System Dissected
A 300-page diagnosis of the South African Ombud systems while the Olympics were on, and the Boks had to beat the British and Irish Lions to avoid a series defeat was quite a challenge, but I did manage to find time to read some of the auxiliary documents, including the media release and recommendations. The […]
