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April 2011
RAF strain

Additional contingency coverAlthough the Road Accident Fund (RAF) was initially established to help South African motorists bear most of the costs resulting from road accident...

April 2011
Aviation

What this means is that the GPS gadgets that some drivers, especially lorry drivers, use to stuff up the tracking devices installed by their bosses actually damage the Ground Based Augmentation System (GBAS) in use at airports.

...
April 2011
Proper planning can save millions

It is unfortunate but true that there are too many failures in the concrete block paving (CBP) industry. Poor design and detailing, inadequate specifications and poor execution are the main factors that contribute to frequent project...

April 2011
Aviation

From Flight International I read that from 1903 to 2003 safety figures had improved constantly, but thereafter the stats have gone haywire especially in the last 12 months.

In 2010 Airline accidents resulted in 817 passenger...

April 2011
Trend lines….

Two and a half years ago, the financial world started to fall apart for South Africans; for the rest of the world (especially the Americans) things had started to go bad six to 12 months before that. More recently, with the FTSE/JSE All...

April 2011
Retail rejection

Muthusamy Govender V Salgados Fruiters T/A Lyndhurst Fruit Basket
The plaintiff, Mr Govender instituted an action against the defendants for damages for physical injuries suffered when he was shot by an unknown robber at a fruit...

April 2011
The full payment wrangle

The recent High Court application for an interdict by the Board of Healthcare Funders against the Council for Medical Schemes has received widespread media attention. Will the push by medical schemes to pay only for members’ prescribed...

April 2011
In the name of the insured

Three months after the controversial judgment of Nkosi v Mbatha 2010 JDR 0839 (KZP) the KwaZulu-Natal Provincial Appeal Court was recently presented with yet another opportunity to rule on the issue of subrogation in Des O Smith v A K Banjo...

April 2011
Solid foundation

On the 14TH March 1831, the first indigenous South African insurance company was established in Cape Town. The driving force behind its formation was British-born Thomas Le Breton, who convinced prominent Cape Town citizens to invest in a...

April 2011
Sound and secure

Warren Buffet always makes some good points in his annual shareholder letter accompanying the financial results of the listed company that he controls – Berkshire Hathaway. It is a widely followed letter with Buffett as the largest...

April 2011
Recall risks

The Consumer Protection Act aims to rid the market of unethical trading, unsafe products, unfair business practices and irresponsible marketing. As such, the Act has far reaching implications for the suppliers of goods and services and...

April 2011
For young as well as old…..

For the most part, younger people tend to put off their financial planning needs, thinking they still have plenty of time. When they do it may be too late.

This is according to Craig Harding, Managing Director of Altrisk. This...

April 2011
Less haste….

The retirement fund-related changes announced in the 2011/2012 Budget herald a significant change for the retirement savings industry and members will have to rethink their retirement planning very carefully.

This is according...

April 2011
Tax-free advice

People saving for retirement often underestimate the cost of medical care in later years. Thanks to medical advances, healthier lifestyles and improved diets people are living longer, making dread disease amongst the aged the norm these...

April 2011
Shape of things to come

Regulatory developments will remain a key focus for intermediaries in 2011, as on-going legislative changes within the insurance industry are set to define further the changing role of the financial services intermediary.

This...

April 2011
Plain and simple

South African businesses should re-examine the way that contracts are drawn up in order to avoid costly liability suits as a result of contravening the Consumer Protection Act (CPA), the full effect of which came into effect on 1st April...

April 2011
Gearing up for record losses

At 14.26 local time on Friday 11th March 2011 the fifth biggest earthquake ever to be recorded in the world hit Japan’s north-east coast. Within 20 minutes a ten-metre high tsunami made land-fall (reported at 23.6 metres high in certain...

April 2011
Taking charge

November 2010’s Constitutional Court confirmation of the amended Road Accident Fund (RAF) Act effectively removes the right to seek compensation for personal injury from the negligent owner or driver following a motor accident.
...

April 2011
Quick check

Astute, the company that integrates data from life assurers and investment managers, has developed a solution to validate financial advisers’ credentials when they submit applications for new business to product...

April 2011
Last word

“Added duties have been placed on the board of a pension fund regarding the appointment and termination of the principal officer,” says Owen Mokoena of Deneys Reitz. The board is required to review the fitness and...

April 2011
Infidelity…..

Following many years of civil litigation between the court appointed curator of seven pension funds and the Alexander Forbes Group, and criminal charges against certain companies within the Group and former employees...

April 2011
A sore reminder

Recent years have seen an increase in the costs of medical indemnity insurance, driven by increased public awareness of malpractice and increased litigation. No longer is this an exclusively international phenomenon,...