Navigating prescription periods: SA insurers and foreign jurisdiction risks
The complexities of prescription periods and cross-jurisdictional disputes can lead to significant insurance reserving and cost implications.
Insurance
Expired driving permit was not material to the loss, non-life ombud rules
The insurer argued the hijacked vehicle should not have been on the road because the driver’s PrDP had expired.
Removal firm fined for offering insurance without authorisation
The FSCA fines Kings International Removers R1.1 million and debars its owner for eight years.
PPS takes its mutual insurance model to the broader SA market
It says the new business division, called glu, provide members with straightforward insurance solutions and profit-sharing.
Insurance pioneer Douw Steyn passes away aged 72
His legacy includes a groundbreaking approach to selling insurance, building Steyn City, and a commitment to community development.
Hollard secures R2.7m payment despite community unrest defence
The insurer successfully upheld the enforceability of a guarantee after a civil engineering company failed to complete a project because of community disruptions.
Don’t let non-disclosure sink your business: insurance insights for owners
Business owners who neglect to inform their insurers of changes risk denied claims, policy voidance, and even lawsuits.
Insurance sector proves resilient amid global uncertainty
Industry leaders at the IAIS annual conference unpack key risks facing the global insurance market, including the impacts of rising interest rates, geopolitical threats, and the growing role of AI.
High Court reinforces key principles of disclosure in insurance
Applicants must fully disclose all relevant information during underwriting, even if it was divulged in past applications.
Vaping epidemic among teens fuels debate on Tobacco Control Bill and insurance impact
A UCT-led study finds that nearly one-third of Grade 12 learners regularly engage in vaping.
Clientèle aims to expand mass market reach with another acquisition
Following its recent purchase of 1Life, Clientèle has signed an agreement to buy micro-insurer Emerald Life.
Survey highlights recovery in SA insurance industry
Non-life insurers bounced back from a loss of R16.7bn in 2022 to a profit of R13.7bn in 2023, while life insurers posted significant profit growth, says KPMG.
OUTsurance delivers strong financial results with 20.3% earnings growth
OUTsurance South Africa reported an 8.4% increase in gross written premiums for its personal insurance segment and a 71.2% improvement in operating profit for its business insurance.
Navigating insurance exclusions: key lessons from the NFO’s rulings
Thoroughly reading and understanding insurance policies and exclusion clauses benefits both parties, leading to fairer and more equitable outcomes for everyone involved.
Ruling highlights need for clear crop insurance policies in the face of climate risks
The insurer bears the risk of any uncertainty or inconsistency in policy documents.
Santam reports 34% net income growth despite rising weather-related claims
The group attributed the turnaround in motor insurance to managing claims inflation and improving risk selection, resulting in a significant reduction in claims frequency.
Partially occupied offices pose insurance risks for business owners
While several large companies have spearheaded a gradual return-to-work, the hybrid working model has remained sticky for many South Africans.
