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December 2004
No time to be lax

Having an alarm installed in your home is one thing, but making sure you use it properly can dramatically reduce the chances of being another crime victim.

Santam Chief Executive Steffen Gilbert says, “...

December 2004
The good, the bad and the greedy

Today the short term and life insurance industries are subject directly to at least 29 different Acts, and indirectly by many more. Those with the most dramatic impact on businesses are the Policyholders’ Protection...

December 2004
Convention chaos

We are now in the lovely situation whereby Botswana and Namibia have ratified the new Convention, but South Africa hasn’t got round to it. On top of that, Lesotho and Zim haven’t even signed it, but Swaziland,...

December 2004
Disclosure issues

There’s a lot of muck swilling around in the short term insurance industry at the moment. And as the levels and reasons for repudiations continue to gather momentum, the muck is getting deeper and thicker. It may only...

December 2004
An alarming story……

The short-term insurance industry has worked hard to recover from its heavy losses suffered during the 90s. But people are beginning to wonder if companies are going too far in repudiating claims.

Rumours...

December 2004
Retail therapy

Africa Surge Protection says it is providing computer companies and retailers the opportunity to boost their cash flow by offering stock to the value of R6 000 on a per consignment basis.

“By offering...

December 2004
Questions of service

Many people are unsure of what an insurance broker should do for them because they are uncertain about the services for which they are paying.

Santam Chief Executive Steffen Gilbert says, “Insurance is...

December 2004
It’s a scream

In an attempt to counter the alarming increase in the number of stolen computers a company called PC Professionals has recently launched a ‘screaming’ product called ‘itss’, short for IT Surveillance System....

December 2004
Broking question

Choosing the financial adviser which best suits your needs is worth investigating properly. Johann van Rensburg, president of the Insurance Brokers Council (IBC) says that financial advisers generally fall into one of...

December 2004
Sounding out

To ensure that the financial advice given to clients is in their best interests, they must provide the financial adviser with the correct information.

Dr Philip van der Walt, head of compliance and client...

December 2004
Consumers beware

Since time immemorial insurers have issued what is referred to as a No Claim Bonus (NCB) as a way of rewarding insurance policyholders who do not claim from their insurers over a stipulated period, usually twelve...

December 2004
Time for zero tolerance

According to various sources between 8% and 35% of short-term insurance claims paid out to policyholders annually are fraudulent. These are usually exaggerated claims or claims for losses that never occurred. Whatever...

December 2004
More phishing dangers ahead

The following dangerous new type of phishing attack was first reported February 2004, and reveals how the latest techniques are being employed to trick users into divulging security information

The Anti-...

December 2004
Staff strategy

• Use effective software as part of the strategy, together with clear rules for the staff in terms of using stiffy disks and working on the internet. A ban on all third party software, a ban on any personal use by...

December 2004
Tidy PC

I remember I was at a lawyer’s office some years ago, mainly on a social visit, but I got involved in sorting out a computer printing problem for him. Along the way, as is my habit, I looked around the hard disk to...

December 2004
Traditional problems

The draft Traditional Health Practitioners Bill, approved unanimously in parliament in September, is the first step in the process to register the estimated 250 000 traditional healers in South Africa under a...

December 2004
Rejig

Medscheme has upgraded its loyalty programme in response to requests from clients for more than just gym membership or a complicated points-based loyalty system.”

The company has launched a new lifestyle...

December 2004
Selective approach

South Africans are inevitably awakening to offshore investment opportunities despite the lingering strength of the rand. This revival of interest, according to Stanlib is the first hint of the reversal of a two-year...

December 2004
Take it easy

With the equity market having returned nearly 36% over the last 12 months, an abundance of good news on the economic front and improving confidence levels, investors are returning to the local equity market in droves...

December 2004
Not whether, but when

A recent science fiction movie demonstrates how the world is changed forever by a global weather storm. Climate change and the fear that man is behind an irreversible and catastrophic alteration of global weather...

December 2004
Check your Pulz

The Pulz medical scheme offers four options to match a member’s particular needs and personal preferences. Various choices within these options make Pulz adaptable to pretty well any pocket. For example, there are 188...

December 2004
Right move

The life assurance industry is evidently dropping most of its remaining HIV exclusions from policies over the next couple of months. This follows moves by the Life Offices Association (LOA) to formulate new guidelines...

December 2004
Pragmatic FAIS

Funeral advisers, merchant bankers and reinsurers are the latest beneficiaries of exemptions in terms of the Financial Advisory and Intermediary Services Act (FAIS) announced by the Financial Services Board (FSB) late...

December 2004
No life threat

Guidelines relating to the definition of the business of a medical scheme as opposed to that of a long-term insurer as defined in the Medical Scheme Act has been identified and agreed with the Council for Medical...

December 2004
Sunshine everywhere

The South African economy is currently in the 44th quarter of consecutive economic growth, the longest period of growth since the 1960’s. Over the last few months, confidence in South Africa has been improving, with...