Parametric insurance offers smallholder farmers a lifeline against climate shocks, with payouts triggered by predefined weather events rather than traditional claims processes.
The FSCA and PA publish recommended best practices, urging financial institutions to adopt a risk-based approach aligned with their size and complexity.
Santam says clients are opting for core covers only, part-insuring assets, increasing excesses, and taking risk-mitigation measures to reduce premiums.
Theft under property covers remains the leading driver of crime-related claims, even as overall crime claims dipped in 2024, Santam reports.
With malpractice claims escalating and legal costs climbing, brokers can help healthcare clients protect their reputations and structure cover that matches a complex liability environment.
Overlooking crucial risk management steps can significantly affect brokers’ liability exposure and their PI insurance coverage.
With the Joint Standard on Cybersecurity and Cyber Resilience set to take effect in June, trustees could be held personally liable for losses due to data breaches.
