Shifting risk landscape to impact cost of reinsurance even further
Industry leaders caution against the ‘new normal’ in reinsurance costs, emphasising the need for a comprehensive strategy to navigate escalating challenges.
Industry News
Loadshedding looms large – SMEs count the cost and explore tech innovations for resilience in 2024
Jeremy Lang, Chief Investment Officer at Business Partners Limited, provides a review of the SME sector in 2023, including key developments, challenges, and the outlook of the sector heading into 2024.
Employers warned of risks posed by chatbots like ChatGPT in the workplace
ENS highlights the threat of ‘conversational AI leaks’, urging employers to monitor unauthorised usage.
FSCA imposes R143m penalty on Classic Financial Services director, creditors unaffected
Jacobus Geldenhuis misused clients’ funds instead of investing in shares, FSCA finds amidst Ponzi scheme investigation.
Scammers forge fake regulatory exam certificates
In their latest scheme, fraudsters are peddling fake Regulatory Examination certificates, utilising the name and logo of Masthead (Pty) along with the FSCA’s.
Insurance crime threatens economic growth: expert urges collaborative action
Dr Jerry Chetty, Head of Business Integrity at Santam, examines the interconnectedness of insurance crime and the need for it to be dealt with as a priority crime.
WhatsApp ‘investment’ scam targets Fedgroup
The FSCA also alerts the public to a cryptocurrency trading platform that is not authorised to render services in South Africa
Old Mutual resolves disputes with staff fired over Covid vaccination policy
What, if anything, was decided about the legality of mandatory vaccinations in the workplace?
Insurers face pricing challenges amid uncertainty in death and disability claims
Discovery Employee Benefits reports on claim trends in its 2023 financial year.
South Africans rally behind local businesses
Santam’s Most Loved Local Report identifies a shift in consumer priorities, as good overall experience and value for money take centre stage.
‘Full implementation’ of NHI will consume a quarter of GDP – cost analysis
‘Real insurance would be achieved if unambiguous private healthcare insurance were fully decriminalised.’
FSCA warns the public of potential pyramid scheme
The Authority also alerts the public to an unauthorised entity that is promising unrealistic returns from forex trading.
Outlook for 2024: new transitional phase will boost risk assets
The asset classes that performed best in the recessionary cycle are unlikely to repeat their superior performance in the transition to the initial stages of accelerated growth.
FSCA asks BHI Trust investors to come forward with information on FSPs
Numerous individuals have been subpoenaed to appear before the Master of the High Court, to be questioned about the affairs of the sequestrated trust.
What medical schemes paid brokers in 2022
The regulator’s latest Industry Report contains detailed information about the medical schemes industry.
All open medical schemes – except one – have solvency ratios far above the required minimum
And the solvency ratio of the restricted Transmed Medical Fund continued to fall in 2022.
Prosecution challenges threaten South Africa’s exit from FATF grey list
The National Prosecuting Authority Amendment Bill will play a pivotal role in bolstering South Africa’s prosecution capabilities, says CDH’s Louis Botha.
