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April 1990
Who caused what?

Robert Vivian is Professor of insurance and risk management at the department of Business and Economics at the University of Witwatersrand.
He continues with his monthly column on answering exam questions for the Insurance Institute of SA...

April 1990
Home protection

While many householders have begun to realise the need for greater security in the home, too few of them appreciate the dangers of fire. Following voluminous press coverage on house burglaries and car thefts over the last few years the fledgling...

April 1990
Overseas problems

While it is sensible for importers to insure their purchases during transit, local brokers disagree with the way they go about it. There are generally three payment structures for imports: free on board (FOB); cost & freight (C&F); and,...

April 1990
Telephone tiff

“Show us your policy purchased telephonically at a lower rate this month and receive a 750ml bottle of sparkling wine from us.” Thus goes the bubbly announcement on an Auto & General’s (A&G) telephone marketing pamphlet.
There is...

April 1990
Taxing ideas

In this, part two of our series on usufructs and similar limited interests Anthony Erasmus, senior legal advisor of Old Mutual’s regional training centre in Durban, looks at Usus and habitatio.
Usus
Literally translated, usus means “Use...

April 1990
Water monsters

The antithesis of the dragon, this monster spits out, not fire, but water. Yes, it’s the fire engine, and they don’t come any smaller than dragons either.
One example of a real monster - though not available here - is used extensively at...

April 1990
Round the clock

It would be wrong to think of the fireman merely as one who knows how to use a hose pipe! In fact, he is a highly skilled professional whose business of fighting fires is dangerous, demanding, disciplined and, surprisingly enough, very complex....

April 1990
Cut to ribbons

The total value of large fire claims, which are those valued at over R250 000, in 1989 jumped sharply to R616m, up 258% on the previous year. The greater part of this, R390m, can be ascribed to the two Sasol fires last year.
Looking at the...

April 1990
Words of warning

The average householder pays a considerable amount of money for his personal and domestic insurances. He takes it for granted that his possessions are fully insured against all “reasonable contingencies”.
And, in most cases, his expectations...

April 1990
It’s unreal, man!

Something quite remarkable happened about five years ago in the world of computer research. It challenged our perceptions of reality.
At one of the workshops at the Multi Rand Forum held last month, Wolfgang Grulke, corporate strategy...

April 1990
Being uncivil

Now that the dust has settled following the lengthy dispute between Transnet and its workers, the Minister of Mineral and Energy Affairs has disclosed that R31,lm in damage to railway coaches and road vehicles was incurred by the group during the...

April 1990
For and against

Is it fair and accurate to compare the historic performance of life assurance policies in an effort to get some idea of a certain company’s future performance?
There are two distinct arguments for and against making comparisons and the...

April 1990
Consider the client

Last year, an incident between Sanlam and one of its brokers, which revolved around the cancellation of the broker’s contract, led to much speculation in the press and the possibility of legal action between the parties involved. Although...

April 1990
Cedants you can trust

The formation of more powerful insurance groups has already led to a larger reduction in reinsurance cessions. And in the future an even greater amount of premium will be withdrawn from the reinsurance market.
This is the view of Hannover Re...

April 1990
Helping advisers

The Institute of Life and Pension Advisers (ILPA) has launched its Pocketbook for 1990.
According to ILPA, “It is intended for the use of all persons who are active in the field of long-term insurance and personal financial planning. The...

April 1990
Floods under-rated

Despite the Natal and Orange Free State floods of 1987 and 1988 having cost the insurance industry the better part of a half billion rand in property claims, insurers have yet to adjust premium levels in line with sound market underwriting...

April 1990
What a gas!

As concern for the environment sweeps the globe, everyone from big business to the consumer is starting to look for environmentally friendly products. But insurers assessing risk were recently warned that alternatives to ozone damaging CFCs, used...

April 1990
State underwriters?

Tort reform, and greater use of arbitration and mediation to reduce ‘unconscionable’ legal costs, could improve the insurance industry’s poor public image, says David Thompson, president and chief executive officer of New York-based North...

April 1990
Perish the thought

Jim Fitzgerald, underwriting manager at Guardian National, notes a sharp decline in underwriting profits where “in-transit insurance of perishable products is concerned.” Although the problems experienced by insurers in this market are not new,...

April 1990
Medical pictures

An experienced life underwriter is a rare commodity these days.
Assurers are constantly on the lookout for suitable personnel, either to train, or simply to pinch from a neighbour.
Says Pierre L du Toit, life manager of Mercantile...

April 1990
Off the rails

After months of speculation, the Transnet (previously South African Transport Services) pension fund shortfall was recently disclosed in Parliament.
According the Minister of Mineral and Energy Affairs and Public Enterprises, Dr Dawie de...

April 1990
Special policies

The South African mining industry is widely regarded as the world leader in the implementation of sophisticated technological techniques. However, says Mr Malton, director of PFV Insurance Brokers, it lags behind when it comes to similarly...

April 1990
All tied up

After having played a role in setting up the office of the short-term insurance ombudsman, the South African Insurance Brokers’ Association (SAIBA) has established even closer ties by forming a liaison subcommittee to hold regular meetings with...

April 1990
Sharing common problems

At recent annual general meetings, both the Fire Surveyors’ Association (FSA) and the Security Surveyors’ Association (SSA) agreed to merge. They have formulated a new constitution ready for adoption before the end of this month.
The FSA was...

April 1990
Soft pressure

The effect of the ruling “soft” insurance market is reflected in the latest batch of figures from company results. For example, take two prominent short term insurers whose financial pictures reveal the impact of the rate war and rising claims...

April 1990
Wider choice

AA Life, which over a period of eight years, has grown from being the country’s 24th largest life assurer to a position within the top ten, has once again expanded its product range.
This time it’s a unit trust.
Called the Allegro Unit...