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May 1998
Needing eyes at the back of your head


Here are some tips from the banks suggesting ways you can avoid becoming a victim of ATM fraud:
1. Stay alert. Be aware of your surroundings and don’t allow yourself to be crowded at an ATM. Be assertive with others behind you.
2...

May 1998
Reducing risk

Hedge funds may not be well known to South African investors but the name George Soros is certain to ring a few bells, particularly in the UK where he had a hand in sinking sterling in 1992 by betting on its devaluation. This, ironically led...

May 1998
One small step...

I was quite critical of a United Bank credit life policy when reporting on the overall subject last year (see Insurance Times & Investments Vol 10.12 December 1998 page 18).
ABSA complained about it, although I am happy to say that some...

May 1998
Slowly, but surely....

The financial services sector - banks, insurers and investment companies - will come under severe pressure this year to start writing in plain English for their customers, says Robert Gentle, MD of the plain language consultancy Shorter Business...

May 1998
Boost for consumer awareness

There have been several important improvements at the office of the Ombudsman for Life Assurance over the last year. They will all benefit the consumer. Probably the most significant is that the Ombudman’s findings are now ‘binding’ on all...

May 1998
Outdated PC

A report based on research by Cologne Re: Most people think that the so- called ‘Year 2000 problem’ concerns software, rather than hardware, that is unable to recognise dates after 31st December 1999. Many people think it also largely affects...

May 1998
Ill-prepared

Reinsurance covers against natural catastrophes in most markets are insufficient, according to Swiss Re. The occurrence of such a loss would mean that the insured losses to be borne by insurers would be so great that their equity base would come...

May 1998
Explain yourself

While the buyer is expected to read his contract, the agent is required to draw attention to all restrictive or limiting clauses. Failure to do so can have dire results for the party wishing to rely on the conditions in the contract. This has an...

May 1998
Sense of well-being

Staying healthy makes a lot of sense for both medical schemes’ members and their employers. It’s good to feel well, and even better to feel good about your financial state too. Why waste money on doctors’ consulting fees and medicines when...

May 1998
Awaiting approval

Sanlam has confirmed that the cut-off date of 31st March 1998 for policyholder eligibility in its demutualisation benefits has taken effect. New policies taken out after this date are not be eligible to receive free shares.
Eligible...

May 1998
Clean slate

Due to the seriousness of the financial position of the Road Accident Fund the measures set out in the Draft White Paper will be implemented as an interim measure on the 1st May 1998. At the same time a commission of enquiry will be set up under...

May 1998
Needing top-up cover

The changes that are envisaged by the fourth and final Draft White Paper on the Road Accident Fund (RAF) will dramatically limit the compensation that is currently available to a person injured in a road accident through the negligence of another...