Actuaries forge new path for life and health insurers to quantify climate risk
The first Mortality and Morbidity Impact Assessment Framework guides insurers through a structured approach to evaluate long-term climate-driven health risks.
Insurance
FAIS Ombud highlights need for follow-up when a policy changes materially
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.
Five things vehicle owners should know about hijackings and theft
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.
Subrogation ruling ‘has far-reaching consequences’ for insurers
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.
Insurers using tech to beat scammers at their own game
Beyond one-off fakes, syndicates are exploiting AI to reuse damage photos and cloned invoices across multiple claims.
Full disclosure is essential as farming operations evolve
Changes such as joint ventures, investing in infrastructure, and switching to higher-value crops can introduce risks that may not be covered.
Consumers adjusting insurance covers to cope with rising cost of living
Santam says clients are opting for core covers only, part-insuring assets, increasing excesses, and taking risk-mitigation measures to reduce premiums.
Crime, fire, and weather remain key drivers of commercial claims
Theft under property covers remains the leading driver of crime-related claims, even as overall crime claims dipped in 2024, Santam reports.
Brokers look to digital tools to reclaim time for client engagement
Two-thirds of brokers say they want plain-language breakdowns of extensions and exclusions, according to the 2025 Santam Insurance Barometer.
Legacy network shutdown puts insurance cover at risk
As 2G and 3G networks are retired by end-2027, thousands of vehicle trackers and alarm systems could go dark – potentially invalidating policy terms.
Life sentence for man who killed farmer for insurance pay-out
The court found that Francisco Erasmus befriended an elderly Oudtshoorn couple before plotting a brutal murder to claim life insurance benefits.
Old Mutual and YuLife partner on digital-first employee benefits programme
The new offering pairs group risk cover with gamified wellness tools to meet the rising demand for digitally enabled workplace benefits.
FAIS Ombud finds broker negligent for failing to update client’s contact details
The material change from a co-policyholder to a sole policyholder should have alerted the FSP of the need to review the policy.
Employer medical boarding doesn’t guarantee a disability insurance payout
Even when an employer’s doctor declares an employee unfit, group policy definitions such as ‘Own Occupation’ vs ‘Any Occupation’ can lead to claim denials.
Grace period doesn’t prevent insurers from rejecting a claim
Some insurers send SMS or email reminders, but it is the policyholder’s responsibility to ensure that an overdue premium is paid.
Misclassified vehicle use – a reminder to provide adequate advice
An FSP failed to ensure that a client was made aware of the implications of modifying his policy, resulting in an insurance claim denial.
Increase in penalty for late insurance returns
The FSCA has raised the maximum daily penalty for late submissions under insurance legislation by 4.39%.
