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June 2002
Better education

Significant progress has been made by the long-term assurance industry in the rationalisation process of the insurance portfolios of civil servants, says Dudu Msomi, deputy director of the Life Offices’ Association (...

June 2002
Fast growth

Sage Life produced good new business results for its year ended 31st March 2002, says CEO Janssen Davies. Total new business for the year (domestic and international) increased by 125,3% from R1,3 billion to R3...

June 2002
Reducing risk

Clients with investments in Sanlam Personal Portfolios’ (SP2) retirement products can now obtain offshore exposure through a hedge fund. This follows the launch of the SP2 Alternative Strategy range of hedge funds....

June 2002
Consolidation prospects

Two significant trends are emerging in the unit trust industry: firstly there has been a major shift from wrap funds managed by Linked Product Service Providers (LISPs) towards Fund of Funds; and, secondly,...

June 2002
Riding volatility

Most unit trust sectors continue to offer investors solid, inflation-beating returns, says the Association of Unit Trusts (AUT). This is despite persistent market volatility. The top performing unit trust sector for...

June 2002
Tidying up

In the interests of simplifying investment decisions for investors and to encourage more relevant performance comparisons, unit trust fund classification has been revised from the first quarter of this year....

June 2002
Sanlam for Plexus

Investors can now access the range of five Plexus funds of funds directly via Sanlam Unit Trusts, thanks to a white labelling agreement with Plexus Asset Management. Previously this range was available for sale only...

June 2002
Fearful figures

Swiss Re’s latest Sigma study reports man-made and natural catastrophes claimed more than 33 000 lives worldwide last year. The estimated death toll for the earthquake in Gujarat, India alone was 15 000, while 3 000...

June 2002
Drop anywhere

Space bomber research

In its usual happy way, the US is checking out a rocket-launched bomber, which will get to 97 kms up and drop its load anywhere within 30 minutes.
It’s the anywhere bit that has...

June 2002
No benefit

The Life Offices’ Association (LOA) has introduced a new HIV/AIDS exclusion clause with effect from 1st March 2002. The clause states that if the assured’s death is directly or indirectly attributable to AIDS or...

June 2002
Sanlam focus

Parents who want to invest in their children’s education now have an additional option: an offshore equity fund from Sanlam’s EduFocus.

“This offers parents the opportunity to use any decline in the value...

June 2002
Resolving issues

Capitation (not to be confused with decapitation, which involves the removal of your head) nevertheless sounds rather dreadful. According to Resolution Health Medical Scheme (RHMS), it has filled many a member with...

June 2002
Equal treatment

The life assurance industry continues to face criticism for its stance on HIV/AIDS testing, and specifically from  the National Association of People Living with HIV/AIDS, which is demanding “equal treatment”....

June 2002
Eviction notice

Here is a disturbing report that is just the tip of the iceberg. They say that a banker gives you an umbrella when the sun shines, and takes it away when it starts raining. It is self-evident that banks trample over...

June 2002
Taking an interest

Many salary earners are getting far smaller pension payouts than they could expect because of the hidden costs of poor or even fraudulent administration. So claims Richard Smith, managing director of Ten50Six. The...

June 2002
Misleading leaflets

Well, I came across some more banking baloney the other day. This time it was the turn of NBS who says its 32-notice deposit is really a fixed deposit. And despite their claim it is flexible, it isn’t.

It...

June 2002
Addressing the needs

The Association of Marine Underwriters of SA (AMUSA) is currently working with the Maritime Law Association on drafting a proposed Marine Instance Act.
Marine business has been written in South Africa since the latter part of the 1800s, at...

June 2002
Saving fees

Home Inspector and Home Warranty Services have introduced a new Internet facility to provide legal advice, documents and contracts at ‘highly reduced rates’. Called Lawyers Online, CEO Max Lourens says it provides “...

June 2002
Case of overdose

Fraud is one of the biggest causes of spiralling health costs, and not an insignificant amount on the part of medical schemes themselves. It is estimated that as many as 30% of medical claims are paid for fictitious...

June 2002
Rigours of life

At the turn of the millennium (the end of 2000), AIDS had claimed the lives of about 22 million people in the world. According to published figures, 36,1 million people were HIV positive. During 2000 a total of about...

June 2002
Start of proceedings

Some 200 to 300 passengers are starting proceedings in the UK, awaiting approval for a class action. This would bring the matter to trial within 12-18 months. One of the primary issues will be the decision as to...

June 2002
Joining forces

The South African Business Coalition on HIV/AIDS (SABCOHA) is to establish a resource centre and website to assist the private sector in the fight against the epidemic. SABCOHA was registered as a Section 21 Company...

June 2002
Life product

In tandem with the launch of its new offshore investment opportunity, Old Mutual has added an overseas insurance option to its pure life product range.

Simply called Greenlight Offshore it is available...

June 2002
Leave it to the experts

Despite improved communication and better consumer education, effective financial planning appears as elusive as ever. Our world is more complex, our needs more diverse; and our lifestyles are more demanding than ever...

June 2002
Choice of risk

Investor demand for exposure to international markets, usually for diversification and protection of the purchasing power of the rand, has seen Old Mutual Guernsey launch Investment Horizons Offshore for South African...

June 2002
Above the rest

If the stone is cut too shallow the light leaves the diamond with very little or no internal reflection at all. These diamonds look very dull and have an appearance called a "Fish eye" look. 

...

June 2002
Second-hand blues

Let's say you purchase a diamond for R10 000,00 from a retail jewellery store and want to resell it. You will be offered around R2 700,00 for the stone. Here’s why.

...

June 2002
Trouble with trinkets

Do you feel vulnerable when you enter a jeweller’s shop? You should: chances are you are about to buy an incorrectly valued stone, or even worse, a complete fake.

It’s not that jewellers are rogues, hell-...

June 2002
Claims handling

If you are a Mutual & Federal customer, you can now use a new Internet service to replace stolen goods. The electronic procurement system is being extended so that by later in the year all branches and sub-offices nationwide will have the...

June 2002
Plastic people

You might call it the least creative way to steal credit card numbers — but it works, and it’s costing merchants thousands of dollars. In the past several weeks, computer criminals have taken to running thousands of...

June 2002
Replacing exclusions

A global review of the insurability of terrorist acts could soon put the South African Special Risks Insurance Association (SASRIA) in the spotlight. Swiss Re points out that it is one of only five state-supported...

June 2002
No gaps

The terrorism insurance cover currently available from SASRIA is limited to R300 million per insured per annum, notes the SA Insurance Association (SAIA Bulletin Jan 2002). Large corporate organisations requiring...

June 2002
Time to rake it in

With very few exceptions, most employees now have to contribute to the Unemployment Insurance Fund with effect from 1st April 2002; and, in the true spirit of insurance, they will all be able to claim. This is...

June 2002
One of eighteen

Medscheme says it is one of eighteen companies to have been awarded discretionary grants totalling R2,95 million by the Insurance Sector Education and Training Authority (INSETA) towards the provision of financial...