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FAIS Ombud’s advice may impact on “white collar crime” statistics
Commercial crime is amongst the top 10 most common crimes in South Africa. Yes, it resides on the ...
industry news
Fraud, waste and abuse in the healthcare system
– Discovery making great strides to curb the problem Discovery Health recently reported that they have invested substantially in fighting the scourge of healthcare fraud, waste and abuse. In 2018, Discovery Health’s efforts to curb fraud, waste and abuse in the healthcare system resulted in a substantial R555m recovered on behalf of client schemes. Efforts […]
best practice
Cyber insurance – A first priority for SMEs
Late last year, Business Report shared that according to the global Cyber Exposure Index, South Africa currently has the sixth highest average exposure to cybercrime, with businesses in the industrial and financial sectors being the most commonly targeted by cybercrime attacks. Another similar report revealed that around 61 percent of small businesses experienced a cyber-attack […]
technologically speaking
Digital transformation shifts from threat to opportunity
“This is a unique and exciting environment for the insurance industry, as consumers are open to a more interactive relationship with their carriers.” These are the words of Stephen O’Hearn, Global Insurance Leader, Partner, PwC Germany. PwC recently produced its 22nd Annual Global CEO Trends series that specifically focussed on Insurance trends. According to the […]
compliance and legislation
Withdrawal of debarment by FSP – Tribunal consent poses qu …
“Unless debarment procedures are fair, reasonable and lawful, decisions taken to debar persons can be, and will be, overturned on technical grounds following an application to the Tribunal to reconsider any such decision”, Alan Holton shared last year. His comment was related to the changes in the debarment process, following the replacement of the entire […]
Should we question the wisdom of investing in South African …
– Allan Gray investigates Investors with exposure to equities in 2018 may have been subjected to a disappointing performance. As a result they may or might be considering the safe haven of cash, and other safer bets like money market or income funds. In a recent media release, Duncan Artus and Nathan Wridgway from Allan […]
FAIS Ombud’s advice may impact on “white collar crime” …
Commercial crime is amongst the top 10 most common crimes in South Africa. Yes, it resides on the same list as drug related crime and burglaries. According to the 2018 SAPS report 73 277 cases were reported in 2017, which equals to 201 cases per day. Commercial crime includes different types of “white collar” crimes such […]
Crimes against businesses
– Latest tracker results shows increase Bryte Insurance has recently released its latest crime-tracker report, for the period July to September 2018. The Q3 2018 Bryte Crime Tracker serves as an indicator of long-term crime trends in South Africa as captured by insurance claims for the period from July to September 2018. According to Bryte, the Tracker […]
FAIS Ombud – Alternative to determinations to resolve comp …
The Office of the FAIS Ombud recently published a media release to share its commitment to resolving complaints in a “…procedurally fair, informal, economical and expeditious manner, with reference to what is equitable in all circumstances” as its mandate states. According to the FAIS Ombud they always explore every available avenue to resolve a complaint […]