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Author Archive | Janine Geldenhuys


BI claims – Santam concludes R1 billion relief payments

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 […]

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Younger drivers reduced mileage during lockdown – Discovery Insure data

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 […]

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Digital transformation – COVID fast tracked use of technologies

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 […]

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COVID-19 – Impact on financial results

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 […]

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Insuring portfolios – Are all risks covered?

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 […]

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Cell Captive insurance standard – Moonstone’s Regulatory Update Webinar will clarify requirements and impact

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 […]

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Power outages and FIC reports – Onus on you to prove you were powerless

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 […]

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