
Treasury wants insurers to assume more municipal disaster risk
The government will engage the sector on the potential for parametric insurance to improve South Africa’s approach to disaster risk.
The government will engage the sector on the potential for parametric insurance to improve South Africa’s approach to disaster risk.
A study says the reasons include underinsurance, poor maintenance, claims processing delays, and market constraints.
By combining traditional cover for catastrophic losses with self-insured retention for routine claims, businesses can transform a ‘grudge purchase’ into a source of financial control.
The anticipated gross written premium for 2026 is between R6.9bn and R9.2bn.
The first Mortality and Morbidity Impact Assessment Framework guides insurers through a structured approach to evaluate long-term climate-driven health risks.
Determination says a ‘reasonable broker’ would supplement a bulk email with an email or phone call to ensure the client is aware of new conditions.
Vehicles fitted with multiple tracking devices are more likely to be recovered. If hijackers disable one tracker, the backup can still guide response teams to your car.
The ruling requires insurers to plead subrogation and join as parties in civil actions, departing from long-standing practice that allows insurers to step into their insured’s shoes without separate citation.
Beyond one-off fakes, syndicates are exploiting AI to reuse damage photos and cloned invoices across multiple claims.
Changes such as joint ventures, investing in infrastructure, and switching to higher-value crops can introduce risks that may not be covered.
Santam says clients are opting for core covers only, part-insuring assets, increasing excesses, and taking risk-mitigation measures to reduce premiums.
Theft under property covers remains the leading driver of crime-related claims, even as overall crime claims dipped in 2024, Santam reports.
Two-thirds of brokers say they want plain-language breakdowns of extensions and exclusions, according to the 2025 Santam Insurance Barometer.
As 2G and 3G networks are retired by end-2027, thousands of vehicle trackers and alarm systems could go dark – potentially invalidating policy terms.
The court found that Francisco Erasmus befriended an elderly Oudtshoorn couple before plotting a brutal murder to claim life insurance benefits.
The new offering pairs group risk cover with gamified wellness tools to meet the rising demand for digitally enabled workplace benefits.
The material change from a co-policyholder to a sole policyholder should have alerted the FSP of the need to review the policy.
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