Ma-Afrika Hotels back in court with another business interruption case
The hospitality group says the lockdown restrictions discharged it from the liability to pay rent.
Lockdown
Crypto transfers: new client information requirements coming for CASPs and intermediaries
The ‘travel rule’ means CASPs and FSPs cannot initiate a crypto asset transfer unless they can transmit prescribed information.
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Did Sweden’s controversial Covid strategy pay off?
As much of the world shut down early in the Covid pandemic, Sweden remained open. The country’s approach was controversial, with some calling it “the Swedish experiment”. But almost two-and-a-half years after the […]
High Court rejects lockdown as reason for not adhering to vehicle finance agreement
The High Court in Pretoria has rejected a purchaser’s defence that the lockdown made it impossible for him to adhere to his vehicle finance agreement, finding that his inability to pay was due […]
Tough times call for innovative thinking
The non-life insurance sector in South Africa, more commonly known as the short-term insurance industry, has arguably experienced its most challenging three years. Although provision was made for possible disasters such as fire […]
Tribunal dismisses another complaint involving Liberty Property Portfolio’s capital reduction
The Financial Services Tribunal has dismissed another complaint by a policyholder whose retirement savings were hit – six months before his retirement date – by the Liberty Lifestyle Retirement Annuity Fund’s decision to […]
How Covid and lockdowns impacted Discovery Group Risk’s claims
Discovery Group Risk has reported a huge increase in the number and value of claims in its 2021 financial year because of the impact of Covid-19. “The 2021 financial year saw large increases […]
Covid-hit property fund is not liable for member’s losses
The Financial Sector Tribunal has upheld a ruling by the Pension Funds Adjudicator (PFA) that a retirement annuity fund was not liable for the losses suffered by a member when it reduced the […]
Covid-hit property fund is not liable for member’s losses
The Financial Sector Tribunal has upheld a ruling by the Pension Funds Adjudicator (PFA) that a retirement annuity fund was not liable for the losses suffered by a member when it reduced the […]
Firm sues broker for neglecting to effect business interruption cover
A Cape Argus article dated 24 June 2021 relates the details of a short-term insurance client who is suing his broker for negligence in failing to effect insurance against business interruption, leading to […]
Lockdown has positive impact on car insurance claims
The impact of the pandemic has influenced many lines of insurance, but perhaps one of the most direct consequences of lockdown in South Africa, and also globally, is evident in the car insurance […]
Younger drivers reduced mileage during lockdown – Discovery Insure data
An analysis of Discovery Insure’s clients’ driving behaviour during the national lockdown indicates that its best drivers reduced their mileage by up to 89%, and younger drivers reduced their mileage more than older […]
Court finds against Insurer – Lockdown did cause business interruption
The stand-off between short-term insurers and clients who had claims denied for business interruption due to Covid-19 took an interesting turn after the Cape High Court found against one insurer. The Applicant, Café […]
Use the lockdown constructively – Obtain an accredited qualification
The Moonstone Business School of Excellence (MBSE) offers various accredited qualifications that will meet your Fit and Proper requirements and the good news is that you still have time to start your studies […]
Financial impact of lockdown – SA Consumers battle to save for retirement
“Apart from spending less on both entertainment and eating out, 24% have cut back on retirement savings, up three percentage points compared to the prior week,” the newly released research by TransUnion shows. […]
Lockdown learnings for retirees – Trim the fat from regular spending
A volatile financial climate has seen many South African pensioners in living annuities looking to increase their withdrawals to cover current cash shortages. However, retirement income specialist, Just, advises strongly against this, recommending […]
Execution of wills during lockdown – Covid-19 poses problems
“Since 1 January 1954 all wills must be in writing. They can be written by hand, typed or printed. The signature of the testator/testatrix must appear at the end of the will. This […]
