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March 1990
Figuring it out

Robert Vivian is Professor of insurance and risk management at the department of Business and Economics at the University of the Witswatersrand. He will be writing a regular column on suggested answers to exam questions for the Insurance...

March 1990
Latin lullaby

In this three-part series we are grateful to Anthony Erasmus, senior legal advisor of Old Mutual’s regional training centre in Durban, for explaining common types of “Limited Interests”.
When taking instructions for the drawing up of a will...

March 1990
Fiery start

“The Multi Rand Forum is to provide an annual, non-sectarian forum for all members of the life assurance industry for interchange of ideas of common interest....with the overall objective of continually enhancing unity, image and co-operation...

March 1990
Dynamic dealings

Most life consultants complain that they are able close a sale across the desk but that they find it impossible to make the appointments over the telephone. Here are some basic telephone marketing techniques that will ensure that your diary is...

March 1990
Apartheid costs

This is a two-part extract of a talk given by André Spier late last year at the Hollandia Forum: RE 89 - Challenges of the ’90s.
Several academic reports, from the university of Natal and UCT, have calculated the additional cost of apartheid...

March 1990
Improving efficiency

The London insurance network is reducing the volume of paper, and this is expected to eliminate duplication of information and facilitate the placing of business. A unified claims system applicable to all markets will also be in place by the end...

March 1990
Good start

Credit Underwriting Limited CUAL) is off to a good start. The specialist domestic trade credit insurance and associated financial serves company beat its projected 12- month premium budget in less than four months.
CUAL is a joint venture...

March 1990
A grave concern

Today, international travellers are generally aware that it is imperative to take out travel insurance cover before leaving on their journeys. It is becoming more and more common for the “modern independent women” to travel extensively on her own...

March 1990
Wedded bliss

Contributions to retirement annuity (RA) funds are deductible up to certain limits. This means the Receiver effectively subsidises the investment.
Of the one-third that may be taken as cash at retirement, a certain amount will be tax free,...

March 1990
Counting the claims service

Women today have recognised the need to become more and more involved in family financial matters, with executive provident funds, retirement annuities, and funeral insurance being seriously considered.
Women in business also enjoy benefits...

March 1990
Fair play

That women already represent a sizeable portion of the workforce, and that during this decade we will see even more opting for a place beside their male counterparts, is a fact. Statistics provided by Sanlam bear witness to this.
This year,...

March 1990
Needing skills

Computer users are only rarely insuring their equipment correctly. Furthermore, insurance brokers do not, generally speaking, understand the computer market and its insurance cover needs.
So says Terence Maher, MD of Quorum Insurance Company...

March 1990
The taxi terror

It is estimated that accidents on our roads cost the South African economy between R5 and R6 billion a year. This startling figure is taken from the first Annual Traffic Audit Survey for 1987 which was released in September last year. The...

March 1990
Less of a battle

The South African Special Risks Insurance Association (SASRIA) has announced that rates for certain category risks have been reduced from the beginning of this year.
SASRIA’s MD, Rodney Schneeberger, explains that the rate reductions were...

March 1990
From ballet to life assurance

While most would agree that South Africa’s life assurance industry has become pretty creative in recent years, few would regard it as an art form. Despite the apparent disparity between life’s cultured pursuits and the business of assurance,...

March 1990
Direct market question

Direct marketing by insurers is posing an increasing threat to insurance brokers.
“If I was a small broker, I would be watching this development with some concern and beginning to think about ways of minimising its effects on myself,” says...

March 1990
Cashless society

The feeling among some aviation insurers is that the next twelve months will finally resolve the “illogical” course the sector has travelled since mid-1987. However, the year will not be memorable one for aviation insurance. At best, it will mark...

March 1990
Out of tune

An AIDS patient who works at a Houston musical instrument dealer is suing his employer and its former health insurer, charging that they conspired to deny him nearly US $1m in potential medical benefits.
The lawsuit, filed in the US District...

March 1990
Different approach

The other day, on walking into a business associate’s office, I was privy to an insurance salesman giving the full pitch on the benefits of his range of products - tax savings, money for tomorrow, an education for the kids and “what if something...

March 1990
Getting informal

Andy Lepesa, insurance broker and owner of Push Excellence Broking Services, recently achieved a breakthrough for both insurance companies and the informal business sector.
He has secured the first ever insurance cover for hawkers, spaza...

March 1990
Building on Empire

Auto & General has certainly got a good eye for marketing and public relations.
Its new building in Richmond, Johannesburg, can be seen from over a kilometre away, up the Empire Road. Every rush hour thousands of motorists drive past the...

March 1990
In action with Barlows

Des Vernon, group risk and insurance manager of Barlows, discusses his company’s sophisticated approach.
In South Africa, Barlow Rand is in a unique position to define risk management (RM) since the group has been developing and implementing...

March 1990
Spare parts

The SA Organ Donor Foundation is trying to get an organ donation clause written in to wills. It says a number of insurance brokers have already approached the foundation to discuss the matter.
“The concept of organ donation is supported by...

March 1990
Pay later

Life assurers and financial institutions in the home loan sector have got together to launch the latest innovation in the competitive mortgage market.
A number of home loan and investment combination schemes have recently been launched with...

March 1990
Space alarms are better

Although there are a number of formidable car alarm systems currently available on the market, most of these devices are geared towards preventing the actual theft of the vehicle, and not protecting the contents within.
Priceforbes Federale...

March 1990
Moral mote

Over the past five years a total of 99 Acquired Immune Deficiency Syndrome (AIDS) related claims have been submitted to life offices. This 50% climb in known AIDS claims since 1984 has cost the life assurance industry more than R6m.
While...

March 1990
Splitting up is so hard to do

After many years of consideration, the authorities have finally decided what to do with the existing Insurance Act of 1943; it is to be split into two pieces of legislation: a short term insurance act, and a long term assurance act. The proposed...