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July 1994
Buyer beware

Probably the most important factor to consider when buying an annuity is the ruling rate on offer at the planned time of purchase. The next concern must be the type of annuity you buy.
An annuity basically consists of two financial...

July 1994
Broader view

Claims paying ability: aa
Financial Year: 31st December 1993
Nature of Business: General short-term insurer
Shareholders: Allianz AG Holding (Germany) 100%
Auditors: KPMG Aiken & Peat
Market Share (as at 31 December...

July 1994
Sorry what was that?

Mercantile & General continues its monthly guide on underwriting considerations of certain medical risks
Alzheimer’s disease is probably the most important of the degenerative diseases of the nervous system because of its frequent...

July 1994
Market maul

Confirming earlier estimates from Chatset, the independent publisher of statistics on the insurance market, Lloyd’s of London has just announced a loss of £2 048m for the 1991 closed underwriting year of account. Chatset notes that the market may...

July 1994
Lucky fortune

Income from marine insurance is diminishing, said Karl Kisteman, chairman of the Association of Marine Underwriters in SA (AMUSA). “However, most of our members realised favourable results during the past 12 months.” He was reporting to the...

July 1994
The living will

Many people prefer to die a natural, dignified and unimpeded death, rather than being kept alive by machines and forced nutrition in a state where they cease to be capable of exercising any human function themselves.
As a result there has...

July 1994
The way forward

“New Generation” health care products are undoubtedly the way ahead. So says managing director of Reef Medical Aid Society, Rod Harpur. Indeed, his company has experienced a marked swing away from the old comprehensive medical type schemes...

July 1994
Luckless Lorries

With vehicle hijackings in the PWV area and thefts country-wide topping 80 000 vehicles annually, a host of anti-theft systems has emerged on the South African market. However, none of them have been formally approved by insurance underwriters....

July 1994
A victim’s story

It was with a strange feeling of premonition that l wrote about the theft of an uninsured motor vehicle and how it was ultimately recovered through an advertisement in The Sowetan (see Insurance Times & Investments Vol. 6.3 March 1994 page 8...

July 1994
Insurers’ after shock

The anticipated cost of the Los Angeles earthquake on 17th January 1994 has been estimated as being as high as US$30 billion. The quake killed 57 people and left 25 000 homeless.
As for insured losses, the estimates have been increasing...

July 1994
Tip of the iceberg

The number of new complaints about the life assurance industry leaped 63% in 1992, from 441 to 718. The rise is probably more indicative of the growing awareness on the part of the public that it has some independent authority to whom criticisms...

July 1994
You can’t avoid COID

The Compensation for Occupational Injuries or Diseases Act (COID), which replaces the Worker’s Compensation Act on 1st March 1994, embodies several far-reaching changes, says Glenvaal Dewar Rand, in a recent newsletter.
These include:

...
July 1994
Sitting ducks

Some R33m a month is being lost through vehicle hijacking South Africa, with by far the greater proportion (some 85%) occurring in the PWV region. Incidents have rocketed from around 200 a month in 1992 to over 700 (see first graph). Not...