Insurers and their clients count the cost of extreme weather
The insurance industry faces the challenge of striking a balance between affordability for clients and ensuring long-term sustainability amid the changing risk landscape.
KwaZulu-Natal floods
Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle
The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
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Why policyholders complained to the short-term ombudsman in 2022
Annual report notes a steady increase in disputes related to power surge claims.
Vastly different financial results from Discovery’s insurance arms
Discovery’s long-term and short-term insurance arms delivered contrasting performances in the group’s 2022 financial year, with Discovery Life’s normalised operating profit surging by 200% and Discovery Insure’s tanking 165%, driven mainly by the […]
Businesses are particularly vulnerable to the impact of climate change
A few years ago, climate change was a far-off reality, but a marked increase in natural disasters and weather-related catastrophes points to the reality that it may be closer to home than we […]
Global warming warnings: insurers must heed the KZN floods
The extensive flooding and landslides experienced on stretches of the KwaZulu-Natal coastline on 11 and 12 April should serve as a warning to the general population, and more pertinently, to South Africa’s non-life […]
KZN floods are the biggest natural catastrophe in Santam’s history
Santam’s current “best estimate” of its gross exposure to the KwaZulu-Natal floods in April is R3.2 billion. However, reinsurance cover will limit the net impact to about R500 million, it said in a […]
Freedom’s just another word
The government’s call for assistance from the business world to get the economy going again is hopefully a welcome change in the view that private enterprise is in competition with it. The perceived […]
Insurance update on KZN floods
The South African Insurance Association (SAIA) says the damage to infrastructure in KwaZulu-Natal as a result of the floods already exceeds R1.1 billion, which was the estimated cost of damage after the flash […]
