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December 2000
Wheels of misfortune

Hire Purchase Information (HPI) has stepped up the fight against the high level of fraud in the automotive industry through the rapidly increasing acceptance and use of Autocheck, a centralised vehicle information...

December 2000
Letting go

The Financial Services Board (FSB) has distributed a memorandum for final comment on proposed amendments of regulations to deregulate the maximum com¬mission payments in the industry — so-called decapping of...

December 2000
Alarming trend

Action to determine the best way in which to regulate the alarm industry and to improve the service provided to the public has been taken by the South African Insurance Association (SAIA), says Linda du Plessis of the...

December 2000
Global connection

The Willis Group, based in London, has recently announced its return to South Africa where it offers insurance broking and risk management services to companies and large corporations.

It recently...

December 2000
Cellphones and travel bugbears

This year’s activities saw an increase in the number of complaints in certain specialist areas giving rise to new problems where similar situations had not been experienced before, according to the Ombudsman’s 1999...

December 2000
Second largest

A major feature of the unit trust results of the last quarter was the massive inflow of capital to Sanlam Unit Trusts (SUT). It now has R16,1 billion of assets under management, which represents a market share of 12,7...

December 2000
Payroll answer

The microlending industry was rocked with the news recently that the government will no longer deduct instalments from the salaries of civil servants or any other government employees. The announcement triggered an...

December 2000
New truth

Fedsure Health says it has finalised a range of new products for 2001, called ‘True Health’, and appears confident that its days of crossing swords with the Council for Medical Schemes are over.

Dave...

December 2000
Munich moan

Munich Reinsurance of Africa does not agree with the proposed regulations issued by the Council for Medical Schemes on the use of reinsurance by medical schemes, says David O’Brien, deputy GM: life and health at...

December 2000
Controlling income

An investment linked life annuity (ILLA) provides potential for good capital growth during retirement, says Cobus du Plessis, head of marketing at Sanlam Personal Portfolios (SP2). However, investors need to know the...

December 2000
Volatile defence

Sanlam Employee Benefits (SEB) has announced the introduction of a new-generation structured product, the Enhanced Capital Guaranteed Fund (ECGF). The product has been specifically developed for retirement funds as an...

December 2000
Working better

The focus of the Sanlam web site has shifted dramatically from supplying information about products and services to catering for the needs and requirements of the financial user, says the company.

“This...

December 2000
Single share

Fedsure Life has launched a new structured investment called Equity Protector. The single premium five-year investment option offers clients full exposure to the South African equity market while protecting the...

December 2000
High interest

Barclays Offshore Services has launched its first High Interest Guaranteed Stock Market Bond for personal and corporate customers in South Africa. It combines high interest and uncapped stock market growth with a...

December 2000
Lazy ways

The Sage Performance Fund was originally launched to maximise the total return to investors by providing a fully flexible world-wide asset allocation strategy. As such it was South Africa‘s first flexible managed fund...

December 2000
Blending opportunities

Prudential Portfolio Managers Unit Trusts has launched South Africa’s first Rand denominated Global High Yield Bond Fund of Funds, as well as a domestic High Yield Bond Fund.

The Global High Yield Bond...

December 2000
Becoming a front runner

When the Financial Advisory and Intermediary Services Bill 2000 (FAIS) becomes law, there will be some dramatic changes in the insurance and investment community in South Africa. The law, set to be introduced April...

December 2000
Life change

The Policyholder Protection Rules to be issued under the Long-term Insurance Act, will most likely become effective during the first quarter of 2001. The rules are presently in draft form and could still change, but...

December 2000
Expensive risks

It is generally estimated that for numerous employers, the cost of their risk benefits will double by 2005 and treble by 2010.

As part of employee benefit packages, employers normally provide group life,...

December 2000
Looking good, actually…..

Any further increase in South African interest rates could be very harmful to the real economy, says Rian le Roux, Head of OMAM’s Economic Research Unit.

In the latest quarterly review he says that while...

December 2000
UK comment

Tony Gordon, president of the Million Dollar Round Table (MDRT), has urged regulators of the South African financial services industry to avoid the mistakes made in the UK. He was referring to the forthcoming...

December 2000
Safety net

The Risk Management Federation of South Africa (RMF) was launched recently, jointly founded by South African Risk and Insurance Management Association (SARIMA) and the Society of Risk Managers (SRM) to “guide the...

December 2000
Risk-filled losses

The high incidence of claims paid, particularly within its short-term export credit business, overshadowed an otherwise sound business performance by Credit Guarantee, which saw premium and fee income climb 26% to...

December 2000
Oh, oh…..

Short-term insurance losses in South Africa in the first nine months of this year increased by 56% compared to the same period last year, mainly because of fire, storms and floods, says Steffen Gilbert, managing...

December 2000
Lower lapeses

The long-term assurance industry had a good first six months, compared to the same period last year, according to statistics released by the Life Offices’ Association (LOA).

Individual single premium...

December 2000
But still a cutting frenzy....

Leading aviation underwriters are throwing up their hands in horror at rates that are still in freefall despite the humungous losses all round. The London market for general aviation is hardening quite rapidly but the...

December 2000
Payroll deduction quandary

Policyholders who are currently paying insurance premiums by means of Government payroll deductions,must be urgently informed and educated as to the impact of the stopping of these deductions so that they can make...

December 2000
Pain in the foot

Some medical schemes are in danger of ‘shooting themselves in the foot’ as a result of an industry backlash against reinsurance, says employee benefits specialists, NMG Consultants & Actuaries. The backlash...

December 2000
Rampant fraud

Over the past 18 months more than 40 000 vehicle inspections have been conducted nationally on new motor policy applicants by Malachi Vehicle Enterprises in order to determine the extent to which the short-term...

December 2000
Affordable bill

As part of its consumer protection strategy, the Financial Services Board (FSB) is proposing the Financial Services Ombudsman Schemes Bill that will give consumers additional recourse to inexpensive resolutions of...