CrowdStrike sensor glitch: implications for cybersecurity and insurance
The CrowdStrike Falcon sensor update-induced global system crash could be the most significant cyber accumulation loss event since NotPetya in 2017.
Insurance
FSCA provides an update on progress with the move to COFI
The Authority’s latest three-year Regulation Plan does not specify by when the three-phase transition project will be completed.
Authority highlights regulatory focus areas in 2024
FSCA pinpoints lack of oversight by KIs, FICA non-compliance, and unauthorised copy trading and funeral insurance business.
Property fire claims: how business owners can protect their premises this winter
Paying for fire damage without insurance can be financially devastating for both individuals and businesses.
Insurers push for trackers as theft of high-end vehicles surges
According to the latest SAPS crime statistics, there were 5 973 carjackings in the fourth quarter of 2023.
SCA clarifies when an insurance policy is a joint one
The appeal court also confirms the principles relating to the link between a notifiable disease and causation in respect of business interruption policies.
Sanlam to acquire majority stake in MultiChoice’s NMS Insurance Services
MultiChoice plans to use the up to R2.7 billion cash proceeds from the transaction for working capital purposes.
Loadshedding: ‘It is going to be a tight winter’
Old Mutual Insure unpacks the impact of loadshedding on the insurance industry and the outlook for a stable electricity supply.
Solar panel surge holds opportunities and risks for insurers
Old Mutual’s Clive Hogarth says insurers need to ask critical questions about the quality of installations.
Dis-Chem agrees to buy 50% stake in insurer OneSpark
The acquisition is in line with the group’s strategy to develop a portfolio of health-centric financial services products.
Weather-related catastrophes ‘signal a looming crisis’ for insurance market
Price increases will be necessary to fund the level of coverage policyholders have previously enjoyed, says Old Mutual Insure.
Rising fire risks prompt urgent focus on insurance in the agri sector
A dispute over a R14 million claim underscores the importance of clear communication and thorough risk assessment in fire insurance agreements.
Budget 2024: Advice is critical to helping consumers navigate financial pressures
Financial advisers can guide their clients on how to manage the knock-on effect of rising costs without compromising their long-term financial wellness.
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.
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.
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.
Financial planner convicted on 30 counts of insurance fraud
Shaun Dorning redirected payments totalling R4.2 million from a client while working as an independent contractor.
