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Cyber-security

Allianz Risk Barometer 2020 – Is cyber risk really South Africa’s top corporate concern?

The Risk Barometer is an annual survey on global business risks from Allianz Global Corporate & Specialty (AGCS). The 2020 edition incorporates the views of a record 2,718 respondents in over 100 countries. For the first time ever, cyber incidents (39% of responses) ranks as the most important business risk globally in the ninth Allianz […]

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rejection

Material misrepresentation leads to rejected claim

In a recent Short-term insurance case study, the Ombudsman for Short Term Insurance (OSTI) emphasised that short-term insurance contracts are entered into in good faith. “Under common law, a policyholder when requesting cover must make full disclosure of all matters material to the insurer’s assessment of the risk. This principle is founded on the insurer’s […]

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surveyresults

Momentum/Unisa Household Financial Wellness Index – Shows roadmap to financial success

The results of the Momentum/Unisa Household Financial Wellness Index show that although the number of financially unwell households increased, they are not quite as ‘financially unwell’ as before. These results, based on a nationally representative survey of 3 073 households, were recently presented at the very first Momentum Science of Success Festival. The survey specifically focused […]

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lawss

National Health Insurance Bill – The house is divided

The National Health Insurance (NHI) Bill has been a subject of controversy since inception. Whilst the government forges ahead with the introduction of NHI, many experts believe the system will fail. A wide range of commentaries was made in the wake of its introduction to Parliament on 8 August 2019 and subsequent countrywide public hearings. […]

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short-term-insurance

Santam’s ST Insurance Barometer – Risk increase cannot be addressed by merely hiking premiums

Although South Africans believe that insurance provides them with peace at mind, more than half polled in a recent study indicated that affordability was a key barrier to uninsured risks. These were just some of the key findings of the Santam Short-Term Insurance Barometer, South Africa’s first general insurance barometer. The survey specifically measured the […]

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purchase

SA Banking Sentiment Index – Heroes and villains in the eye of the public

BrandsEye’s 2019 Banking Sentiment Index analysed 1.9 million social media posts about South Africa’s largest banks and included an analysis of 68 500 posts about the new entrants, Bank Zero, Discovery Bank and Tyme. Below are some of the key findings: Allegations of unethical conduct hurt banks Absa, FNB and Standard Bank were implicated in several ethics-related issues that […]

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Retirement

Clarity on beneficiary nominations – Does dependent outrank beneficiary?

The Pension Funds Adjudicator recently ruled that a death benefit was distributed fairly although one of the beneficiaries was not financially dependent on the deceased. “The entitlement stems from the fact that the person concerned was nominated by the deceased and nothing more is required,” said Ms Lukhaimane in her ruling. Lukhaimane told the media […]

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