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October 1988
Listen and live

In discussing the threat to life assurers by AIDS, or acquired immune deficiency syndrome, it is inevitable that the human element becomes buried beneath actuarial statistics.
While assurers are concerned...

October 1988
Tip of the iceberg

Background
The rapid advance of the AIDS pandemic has caused SA’s life assurers to take certain precautionary action.
But most speakers at last month’s seminar on AIDS, held by the Actuarial Society...

October 1988
Legal follies

This is Part 1 of a summary of a talk given by Brian Benfield.
Earlier this year Dr Brian Benfield, MD of AA Life, read a lucid paper on the subject of legislation in the life assurance industry.
...

October 1988
Accounting Maize

The last few years have seen numerous references to short-term insurance accounting in the press. This largely follows publicity of the collapse of AA Mutual Insurance (AAMI).
More recently the Melamet...

October 1988
Won’t rock the boat

Lloyd’s is 300 years old, and it remains the most influential insurance institution in the world.
The secret of its success lies largely in the fact that it is literally a market and not a company. It can...

October 1988
Wise up or lose

Computer related crime is a growing problem in South Africa, especially as the criminal need not be resident to effect an attack.
“However, one wonders whether the average South African executive is aware...

October 1988
Problem solving

Motor cars are complicated machines — especially to most ladies or those who do not have a mechanical engineering degree.
So insurance against mechanical break-down wouId seem to be a good idea.
...

October 1988
The man without a cause

The conclusions reached in the McGregor Report “are based upon a fundamental disregard of the principles of life assurance,” according to the report commissioned by the Life Offices’ Association (LOA).
...

October 1988
From Utopia to Ethiopia?

Misconceptions seem to be the order of the day when it comes to the appropriate taxation laws surrounding life assurers. Many individuals and authorities hold their own weird and wonderful views on whether or not the...

October 1988
Promising service

There are countless hazards faced in the building and construction industry, ranging from inclement weather to faulty engineering and materials. Insurance cover is therefore essential and comes in the form of “...

October 1988
Catering for the superior drivers

The Hosken Group of companies has various specialist divisions under its wing, one of which is Hosken Employee Benefits (HEB). This is an insurance broking company dealing with personal lines, life and pensions...

October 1988
Profile of Tony Leveton

Tony Leveton cuts a fine figure of success within the medical aid industry. He is the epitome of achievement without stress and lacks all the stuffy formalities which so often hamper men in positions of authority....

October 1988
Here to stay

Following persistent heavy underwriting losses coupled with shrinking business prospects, some local reinsurers are questioning the continued viability of domestic operations in South Africa.
The assets of...

October 1988
Criminal thinking

Going away on holiday can be a nightmare for the homeowner. While one may look forward to leaving one’s worries at home, many a holiday-maker may take one worry with him: will he find his house ransacked by miscreants...

October 1988
Tighter controls at last

In South Africa it has been extremely easy in the past to obtain a gun licence. Until recently law-makers seemed quite happy with this state of affairs. There was no law, for example, that required an individual to...

October 1988
Book review

At last a book has arrived in South Africa which will drive away all those nightmares you had about AIDS.
For, as the book states: “If you are Mr Average - AIDS is rare”.
AIDS - A Fact of Life is an...

October 1988
A viewpoint

Life assurers and employee benefits schemes frequently appear on the government legislative agenda in ways that have, at times, shocked and disturbed the assurers with their suddenness and sweeping effects....

October 1988
Discounts not up to much?

To satisfy the bargain-hunting instinct of the average man-in-the-street, many insurance companies are adopting a more flexible approach by offering products with “voluntary excesses”.
An excess is the...

October 1988
Commissions still too low

Despite a recent improvement in the commission structure for pension sales, brokers remain unhappy. After many years of lobbying the commission scales were finally increased in October 1987.
The...

October 1988
Flexibility from the assurers

The need to convert may not only apply exclusively to the religious community any longer with the increasing amount of conversions being done within the life assurance industry nowadays - referring of course, to...

October 1988
Co-ops becoming a threat?

The recent spate of “insurance” co-ops is causing concern in some quarters over their perceived advantages over conventional direct insurance companies. In the last 18 months no less than five have been formed:...

October 1988
Wake of AA Mutual

In the wake of the AA Mutual Insurance collapse, and the resulting Melamet Commission report, comes a reactivation of the insurance advisory committees. The previous registrar discontinued meetings of the committees...

October 1988
Safe investment

“In response to demand,” as they say, Southern Life has entered the unit trust market.
Launched October 3 1988 Southern starts off with two unit trusts, the Southern Equity Fund, and the Southern Mining...

October 1988
More on response

These notes refer to main story headed: The Actuarial Society on AIDS

1] In testing for infection laboratories look for the anti-bodies the immune system makes to fight the...

October 1988
Who’s in the dock?

A fascinating tussle has developed in the short term insurance industry over whether the market should be protected against foreign competition. SA insurers say they can’t cope with the cheap insurance being imported...

October 1988
System protection

In a few years’ time, it is said, no one will be able to conduct their businesses or private lives without the assistance of computers.
Richard Fearon, chief executive officer of Networx Communications (...

October 1988
Its regulations in SA

Lloyd’s of London qualifies as a registered insurance company in terms of South African law. However, in return, it has to abide by certain rules and regulations. Lloyd’s is compelled to retain 130% of gross premium...