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October 2005
Back to normal

The short term insurance market looks to be returning to ‘normal underwriting cycles’ for 2006. This follows an unprecedented string of profitable years.

Globally things have taken a distinct turn for the...

October 2005
Confident cover

The latest Consumer Confidence Index report put together by First National Bank and the University of Stellenbosch’s Bureau for Economic Research, states that consumer confidence “bounced back to a near record high in...

October 2005
Need for balance

To assist in the implementation of the 345-page King II report on corporate governance, and changes in company law such as the Municipal Finance Management Act, Public Finance Management Act or other relevant Acts...

October 2005
Taking care

Nine percent of South African companies surveyed recently indicated that HIV/AIDS has already had a significant adverse impact on their business. This is the startling conclusion of a study by the Bureau for Economic...

October 2005
History of aviation

We should be delighted to hear that Her Majesty the Queen has declined invitations from certain quarters that she should apologise for the bombing of Dresden and other parts of Nazi Germany.

Without the...

October 2005
Slow progress

An overwhelming number of tuberculosis (TB) cases in Africa unleashed by HIV are frustrating efforts to reverse the global epidemic, according to an independent report issued in March. Compiled by the Massive Effort...

October 2005
ARTful way

The escalating cost of risk benefits in recent years has encouraged many large employers to look for alternative insurance options. The group risk market has become increasingly sophisticated with many clients...

October 2005
Little and large show

Investment houses sometimes refer to their size, in terms of assets managed, to prove they can do a better job. Indeed, the argument between the little and large managers can get quite heated, the one claiming...

October 2005
Less greed

There’s no doubt that South Africa’s revenue from tourism has fallen, partly through the stronger rand, and partly through the persistent high cost of long haul flights. Nor are things likely to improve given the...

October 2005
That’s the spirit

It is apparent that government is actively addressing the issue of discrimination against disabled employees in the workplace. Since the introduction of the Labour Relations Act of 1995, the government has also...

October 2005
Anecdotes

Cows eat aircraft

Not a new way to avoid hangarage fees, but it was reported that the owner of an Auster J1-7 who landed in a field near his local pub returned to find that cows had feasted off his wing...

October 2005
Hide and seek

Many trustees lose hundreds of millions of rands every year in hidden commission because they fail to probe service providers regarding full disclosure of fees prior to signing long term service level agreements....

October 2005
No more hurdles

From its recent research Medscheme says that criticism of the low registration of patients on HIV management programmes is misplaced. On the contrary it has found that enrolment of those who stand to gain the most...

October 2005
Working together

In the decade since the 1995 Commission of Enquiry into National Health Insurance, the Department of Health has resolutely implemented its agenda for the private sector with very little co-operation between the public...

October 2005
Good moment

Momentum’s Financial Adviser School is looking for “previously disadvantaged South Africans” to launch lucrative and rewarding careers as professional and qualified, independent financial advisers (IFAs). They should...

October 2005
Being human can damage your wealth

Investing in a fund that is at the top of the performance tables is a very natural and comforting thing to do, and there can be no doubt that many investors actually select funds based solely on recent performance....

October 2005
Sharing the best-kept secret

A brand new marketing plan aims to make Regent – the best-kept secret in insurance – a household name across South Africa.

Everyone will be seeing and hearing a lot more about the company as it puts into...

October 2005
Keep it simple

Warren Buffet says there are only two things you need to avoid when investing: excitement and expenses. He might have added ‘complication’. I take the approach that if something is too complicated, or I don’t...

October 2005
Blacklist

Recent media reports have highlighted concerns raised by both the South African Police Service and Business Against Crime regarding the number of cellphones being stolen and related crimes.

The three...

October 2005
But household burglary up

The latest published crime statistics have shown a decrease in key areas that concern the short term insurance industry.

The SA Insurance Association (SAIA) says it commends Business Against Crime for a...

October 2005
Strategic lines

Momentum Group Limited says it plans to launch a short-term insurance company in January 2006. It will simply be called Momentum Short Term Insurance.

The new company’s strategy will be to provide...

October 2005
Beware the extras

South Africans are on a record breaking car-buying splurge; but sometimes overlook the insurance implications or potential additional costs of optional extras.

Santam Chief Executive Steffen Gilbert says...

October 2005
Getting dynamic

In keeping with Telkom’s dismal philosophy, its ADSL service is inflexible, capped and expensive. In addition, one of the biggest issues for business users has been the inability to assign the service to a static IP...

October 2005
GEM of an idea

GEMS (the Government Employees’ Medical Scheme) was granted registration by the Council for Medical Schemes in January, and is preparing for launch in January 2006. This is set to be the country’s largest medical...

October 2005
A matter of incentives

Here is one of the easiest ways to remember economics and the incentives created by different policies. Always ask yourself who is spending the money and on whom they are spending it.

Don’t let that sound...

October 2005
Getting it right

Few people would acquire a new motor vehicle and not spend time familiarising themselves with the contents of the owner’s manual. How many exporters familiarise themselves with the relevant VAT Rules before exporting...

October 2005
Gauging the gap

A major problem with FAIS concerns the poor link between life assurance, healthcare, investment, and short term insurance products. It appears that financial advisers dealing with long-term insurance products or...

October 2005
More consolidation in the industry

Following the fulfilment of all the conditions precedent on 24TH August 2005, the scheme of arrangement between Sage Group Limited and its shareholders became operative on 12th September 2005.

Sage Group...

October 2005
Holiday tips

A post box crammed with junk mail, a dark house with curtains drawn, an uncut lawn, and a number of other signs pointing to an unoccupied home, serve as an open invitation to criminals to have a ball this holiday...

October 2005
Big business

Section 45 of the Short-term Insurance Act 1998 requires intermediaries who collect premiums on behalf of short-term insurers to have a guarantee in place equal to 30% of the gross premiums collected the previous...

October 2005
Looks can be deceiving

The Acer Ferrari 3000 Notebook is no high class performer. It may be liveried in the racing red of Michael Schumacher’s F1 motor-car, with endorsement of the prancing horse logo, but that’s where the similarity ends...

October 2005
At our disposal

We really need to put this Renault problem behind us. In fairness it must have cost them tens of thousands to try and sort out the problems, and we can’t fault them for trying so hard. See our original article last...

October 2005
All that glitters….

Buying a new motor vehicle may be the ‘big reward’ for all that hard work. But the lust for status and that feeling of well-being, costly in itself, may also resolve into the ‘big headache’.

The last year...

October 2005
Better the devil…….

Consumers are bombarded by advertisements promising better cover for lower premiums. Yet few appreciate the potential pitfalls, to say nothing of the actual cost of changing policies.

Even if the cover is...

October 2005
Be prepared

About one in four insured vehicles in South Africa will be involved in an accident, according to statistics from Lana-Lee Ross, the senior claims manager at Alexander Forbes Personal Services.
It means you...

October 2005
Active approach

South Africa has some of the highest incidence of crime and road accidents in the world, which has made insurance premiums a sizable part of people’s budgets.

“But there are ways to reduce your insurance...

October 2005
Power in your hand

It has so many features that the i-mate PDA2k had to be put through a full work out, and it passed with flying colours. Although it brings together two developing technologies – the cellphone and the personal digital...

October 2005
Policy point

Consumers are inundated with advertising that suggests that they will reduce their insurance premiums by cutting out the middle man and going direct.

Johann van Rensburg, president of the Insurance...

October 2005
Correct reporting

The members of the Life Offices’ Association (LOA) have uncovered fraudulent claims in excess of R196 million for the first six months of this year

According to industry research a total of 1 808 cases...

October 2005
On the road to recovery

After many years of hard work and negotiation, the Road Accident Fund Amendment Bill was approved and signed by the Portfolio Committee on Transport (National Assembly) on 7th September 2005. The signed Bill will now...

October 2005
Scoring a direct hit

In a move that has united the often-at-loggerheads players in the insurance industry, direct insurers have apologised to brokers for advertising that slates intermediaries and pledged to halt this practice....

October 2005
PA exercise

Following amendments to the Road Accident Bill, Santam has introduced several types of personal accident (PA) insurance to bridge any gap in cover.

“Personal policyholders can now add PA to their existing...

October 2005
Purring CAT

Affordable, accessible and appropriate long term risk insurance products for people in lower income categories (LSM 1-5) are on their way.

The Life Offices’ Association (LOA) announced recently that...

October 2005
Small business option

With effect from 1st August 2005, to assist small businesses, the SA Revenue Service has introduced a new four-monthly tax period for the rendering of VAT returns. In terms of the new Category F the tax periods will...

October 2005
Opening its doors

“Forget about the conventional insurance principles you have been taught and open up your minds to a new beginning.”

This was the request representatives of short-term insurance companies attending the...