• Sharebar
June 1990
Tie junior down

The AA has expressed its concern about the lack of knowledge displayed by parents who continue to allow babies and toddlers to travel completely unrestrained, the AA’s AGM of road traffic affairs, Robin Scholtz, made an appeal to parents to see...

June 1990
Getting cash

Robert Vivian, Professor of insurance and risk management at Wits, continues his column on answering exam questions.
The questions: What is the difference between a bonus issue of shares and a rights issue? Explain the likely effects of each...

June 1990
Costly casualties

The accident rate on South African roads is legendary. Besides the loss of life and injuries associated with this, is the huge cost to the economy and, in particular, the short term and life insurance industries. In a recent initiative, the...

June 1990
Aerial survey

There’s nothing quite so compelling as a personal financial interest. It may explain why, on the one hand, the police seem indifferent to losses experienced by affluent whites while, on the other, so many individuals and companies these days...

June 1990
Variable factor

With insurance premiums for the same household and motor cover varying by as much as 65% from one insurer to another, chances are, you’re paying more than you have to.
The table offers comparative figures for cover offered to a married male...

June 1990
No more picnics

A massive increase in motor premiums on personal lines business is on the way. Some underwriters are predicting that rates will go up by as much as 80% within the year. Underwriting losses are now forcing insurers to start pricing motor premiums...

June 1990
Into industrials

Hot on the heels of its Gold Fund launched the beginning of this year comes yet another new unit trust from Old Mutual. Called the Industrial Fund, it will be fully invested, ready to take advantage of the “expected upturn in the share market...

June 1990
Fancy figures

An actuary might tell you that a man aged 36 next birthday has to pay R14,27 per month per R10 000 of basic life cover. Sounds quite scientific. It’s worked out using the mortality tables, a few assumptions about interest rates and expenses, and...

June 1990
Getting personal

We have dealt with the personal accident aspects of life cover. But this benefit for death and injury through accident is also available from short term, or non-life, insurers. Indeed, it may be a sensible alternative should the life cover type...

June 1990
Hazardous activities

In life assurance parlance, due to variable degrees of hazardous activities, there cannot be a clear definition - although the principle may be straightforward enough. Life actuaries have set premium rates for standard lives, and apply loadings...

June 1990
Shop around

It is not possible to give specific premium ratings because of the wide range of products and underwriting approaches involved. The following are examples polled from a variety of insurers and brokers.
Life assurance rates are based on...

June 1990
On the straight and narrow

Conforming to the latest regulations of the Fédération Internationale de l’Automobile (FIA), the new Kyalami race track is now set to host, in theory at least, the Formula One Grand Prix. The FIA is the French controlling body for international...

June 1990
Special considerations

Hazardous occupations and sports are probably the most demanding subjects for the life underwriter. And ordinary rates, based on the SA56/62 mortality tables, are not always the answer.
These tables are a sort of actuary’s bible which have...

June 1990
Hazard mop

RASCO, leader in the field of fire protection, has just released the new SpiIl-X portable applicator from Ansul. It has been specifically developed with three effective spill control agents by research scientist at the Ansul laboratories in...

June 1990
Down the tubes

In this new monthly column, Mercantile & General provides the underwriter with advice on the risks of certain medical conditions.
Bronchitis means inflammation of the mucous membrane of the bronchial tubes. It can occur in attacks (acute...

June 1990
Better spreads

Old Mutual has launched a new short-term insurance company which will provide a comprehensive new range of health care insurance products to supplement South Africa’s ailing and costly medical aid system. The company, Old Mutual Health Insurance...

June 1990
Premium boost

It’s been a pretty good year for Auto & General (A&G). Besides having moved into its new head office building in Johannesburg, the financial year to end December 1989 delivered some impressive figures. A&G’s group net profit after...

June 1990
Spearing skills

There’s no better indication of driver incompetency and negligence than the amount of premiums he’s paying for his motor insurance. Taxi drivers either have to pay “excessive premiums” or are refused cover altogether.
This is not surprising...

June 1990
Ignored by budget

Speaking at the recent opening of Sanlam’s new Rand province offices in Parktown, senior general manager, Desmond Smith, called for the limit for tax reduction of retirement annuity premiums to be urgently revised. Mr Smith said self-provision...

June 1990
Foreigners’ foray

After delivering fine performances in 1988, most South African reinsurers look set to continue the downward trend which started last year. A general comment made by the directors in Swiss Re’s annual report for the 1988 financial year has proved...

June 1990
One of the worst

According to Mercantile & General’s research 146 people are believed to have died in one of the worst passenger ship disasters on record. Two fires broke out almost consecutively on the Da-No Line operated vessel during its journey between...

June 1990
Rates down but...

Despite a serious upsurge in riot-related claims against reduced premium ratings from 1st January 1990, SASRIA - the SA Special Risks Insurance Association - is not planning any rate increases “at this stage’’. Careful claims assessments and...

June 1990
The domino effect

Local insurer, National Employers’ General (NEG), is up for sale. And, for a change, it’s not because a UK parent wants to get out of South Africa: it’s simply a shortage of cash. The company handling the sale, Standard Merchant Bank (SMB), was...