High Court rejects insurer’s ‘narrow interpretation’ of construction guarantee
If Hollard’s ‘contradictory’ interpretation were correct, it could never be held liable to make payment, says judge.
Industry News
Corporate loses R483 million in ‘deepfake’ conference call scam
The 13th Allianz Risk Barometer reveals that deepfake video technology, aimed at facilitating phishing scams, is now readily available online, priced as low as R377 a minute.
Financial Intelligence Centre must hand over reports on EOH, KPMG, Steinhoff, and Tongaat Hulett
The Equality Court makes an order in an application brought by six natural and juristic persons whose bank accounts were closed by Absa and FNB.
SA insurers losing most renewable energy project premiums to offshore firms
Lenders require that at least of 85% of the insurance programme is placed with A-rated insurance markets, says brokerage.
Court orders Discovery to deduct maintenance payments from defaulter’s RA
The existence of the RA funds demonstrates that the husband was able to pay the arrear maintenance, judge says.
Which banks offer the cheapest transaction accounts in South Africa?
Solidarity’s latest Bank Charges Report singles out the progress made by Nedbank regarding competitiveness and transparency.
Sanlam gets the nod to buy distributor of luxury brands
S. Bacher & Company is a distributor and wholesaler of brands such as Tommy Hilfiger and Hugo Boss.
Consumers warned of latest social media scammers
The FSCA encourages the public to be cautious of fraudulent schemes on messaging platforms, as they are on the rise.
FSCA wants to know number of personal lines claims in 2023
The information will help the Authority to monitor the extent to which insurers are delivering fair outcomes for consumers.
How the independent financial adviser market fared in 2023
Insights from Ninety One on the sector’s investment flows, fee trends, and revenue growth.
Court orders to assist in asset seizure and unravelling of BHI Trust
Evidence uncovered by BHI Trust’s joint provisional trustees shows the flow of funds from the trust to Craig Warriner.
FSCA’s investigation into Tongaat Hulett accused not unlawful
The Full Bench of the High Court finds that the Authority’s investigating panel did not treat Michael Deighton unfairly.
Positive trends in SA’s ETP industry ‘are likely to continue in 2024’
The industry’s 28% surge in its market cap in 2023 was the biggest since the first exchange-traded fund was listed in South Africa in 2000.
Move over Black Friday – ‘Tax Thursday’ offers investors the best deal for retirement savings
Investors can maximise their tax benefits by contributing extra funds to their retirement annuities before the tax year ends.
Critical infrastructure blackouts are SA corporates’ biggest worry
Cyber incidents are the top global business risk by a clear margin, but they rank second in South Africa, according to the latest Allianz Risk Barometer.
Increase in Discovery’s cancer claim payouts – and screening rates have recovered
Claims for cancer treatment and maintenance therapy rose by almost 8% in 2023.
Few bright spots in 10X’s latest Retirement Reality Report
A trend that has emerged over the past three reports is that more South Africans are being forced to retire before they want to.
