Santam recently announced that they have paid just over R1 billion in interim relief to policyholders in the hospitality, leisure and non-essential retail services industries, who have the Contingent Business Interruption (CBI) extension in their policy cover with the company. ● In total 2 469 policyholders in the small and medium-sized business sectors received a total of […]
An analysis of Discovery Insure’s clients’ driving behaviour during the national lockdown indicates that its best drivers reduced their mileage by up to 89%, and younger drivers reduced their mileage more than older clients. Discovery Insure assessed accumulated mileage among clients along personal and commercial lines, and segmented it into the various levels of lockdown […]
The COVID-19 crisis has accelerated the use of technologies and digital transformation in businesses. According to research conducted by Vodafone recently, 71% of businesses have made at least one new technology investment in direct response to the pandemic. According to William Mzimba, Chief Officer for Vodacom Business “necessity is the mother of all inventions”. “As […]
A recent Gartner poll showed that 48% of employees will likely work remotely at least part of the time after COVID-19 versus 30% before the pandemic. The pandemic has therefore forced the adoption of new ways of working. A sudden event such as lockdown has also required financial advisers to rethink and explore different ways […]
Over the last few weeks some of the major financial services companies released their results. How, if at all, have headline earnings been impacted because of the coronavirus pandemic and the associated lockdown? Here is a summary of a few of the results: Sanlam Sanlam reported a resilient underlying operational performance and a healthy solvency […]
CIO Greg Hopkins of PSG Asset Management recently asked whether investors are really covering all the risks in their portfolios and points out that investors should not just be insuring their portfolios against the most obvious and visible risks. “On Tuesday, Stats SA announced that the country’s GDP had fallen by 51% in the second […]
“Whether we like it or not, social media is here to stay. Done well, it can be a powerful tool for your business, helping you raise your profile online and stay connected with existing clients and connections,” writes Simon Goldthorpe, Chairman of the UK’s Beaufort Group. He points out that sites like LinkedIn provide a […]
In July this year, the FSCA published a revised draft Conduct Standard setting out requirements relating to third party cell captive insurance business, with the main objective to prescribe the requirements that cell captive insurers need to comply with in order to address certain market conduct risks. The draft conduct standard also proposes additional disclosure […]
Recent load shedding schedules and power outages have a huge impact on businesses. In a recent Notice, the Financial Intelligence Centre (FIC) notified financial institutions that, where institutions have a requirement to submit regulatory reports to the FIC during the periods when there are power outages, the FIC will take into consideration the situation at […]
Various recent media reports commented on the planned changes to the tax legislation which could see common errors on tax returns resulting in jail time. “New draft legislation seeks to scrap the concept of “intention” from tax crimes – this means the prosecutors don’t have to prove that you wilfully broke the law, and the […]
