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February 2007
Reality setting in

I won’t go so far as to say the party’s over for the short term insurance industry. But the heady period of exceptional profits from 2003 to 2005 is certainly over. As the final figures for last year’s high level of...

February 2007
No time

SAA, as ever mindless of the needs of passengers and only interested in making money (not that their results show much of that) have decided to use pilots on airliners with only 70 hours training.

It is...

February 2007
Returning value

The Board of the Life Offices’ Association (LOA) has recommended its members begin enhancing the fund values of ‘qualifying retirement annuity funds and endowment policies’ in line with the Statement of Intent,...

February 2007
Missing the boat

After three fabulous years of investment returns, equity-based unit trusts came out tops again during 2006, says Ian Dodds, Managing Director of Fundamental Investments. He said that the top ten performers included...

February 2007
Channeling challenges

The investment management industry believes that business revenues will increase by 20 % or more over the next three years, but new products and innovative distribution strategies will be key factors in achieving such...

February 2007
Client guide

Performance fees, paid to asset managers when they outperform a predefined benchmark, are increasingly used in bonus awards. The trend is replacing the traditional fixed fee structures that remunerate on the basis of...

February 2007
Logical steps

The recent interest rate hikes and an expected further increase in the prime rate should cause many people to take another look at their financial affairs. The important question is what is in store for their finances...

February 2007
No Will, no way

The importance of having a valid, up-to-date will can never be over emphasised,” says Yvonne Boden, Director of the Estates Department at Garlicke & Bousfield Inc.

“When a person dies without a will,...

February 2007
Every bit counts

There have been many changes affecting the retirement industry in the last few months. First up was the landmark ruling by the Pension Funds Adjudicator, which dealt with the ability to transfer funds prior to...

February 2007
Claims pointers

The majority of insurance related complaints arise where brokers have failed to inform or correctly advise their clients, according to Santam.

It says that many of its most frequently received complaints...

February 2007
Keyboard to success

If you are thinking of buying computer supplies from Digital Planet – a web-based Johannesburg distributor – we suggest you don’t. We tried them for the first time 21st November 2006. Though prices are reasonably...

February 2007
Calling all clients

Instead of seeing the Consumer Protection Bill as a threat, direct marketers - including managers of outbound call centres and telemarketing businesses – should see it as an opportunity.

O’Keeffe &...

February 2007
Homing in on protection

How many times have you came across a dissatisfied home owner who has just had a house built only to find it is starting to show cracks. Perhaps he has to wait until it rains to finds the roof leaks, but that the...

February 2007
Impersonation scourge

The victim watching helplessly as funds are drained from his bank account or who finds out he is ‘married’ to someone he doesn’t know, or who receives traffic fines in locations he’s never even heard of will receive...

February 2007
Don’t expect too much

South Africa’s telecoms marketplace has been awash in raised expectations for years now: first the cellular companies, then Voice over IP (VoIP) and now Neotel (previously known as the SNO) have all been expected to...

February 2007
Hopes for a roaring trade

Lion of Africa Life Assurance Company just before Christmas became a member of the Life Offices Association.

Gerhard Joubert, CEO of the LOA, says that, as a black owned life company, it will be an...

February 2007
Advice from the FPI

According to recent global research, 90% of financial organisations lose more than R70 million a year each because of poor risk management.

And while the ‘human factor’ is not the only aspect of this...

February 2007
Cover mix up

A short term insurance broker who failed to transfer a client’s cover has been ordered by the FAIS Ombud to make good the R76 211 loss suffered in a burglary.

In finding the broker guilty of negligence...

February 2007
Quick review

As we approach the end of the tax year, there is a scramble for opportunities to utilise the tax system to improve the level of savings for individuals.

The Minister of Finance has made it clear over the...

February 2007
Getting access

Unlisted subsidiary of the Sanlam group, Channel Life, has acquired the entire share capital of South Africa’s oldest black life assurer, Safrican, from Thebe Investment Holdings, for an undisclosed amount. In return...

February 2007
Avoid shortcuts

It happens from time to time that a claim is repudiated by the product supplier, whether it is long-term insurance, short-term insurance or health care benefits. The aggrieved party (or family of the deceased) then...

February 2007
Personal pressure

MUA Insurance Company predicts, “Noticeable increases on all personal lines classes of insurance, in particular the motor class, over the next 12 months.”

Comments Adriaan Louw, operations director of the...

February 2007
Life’s lessons

Collective Investments boomed last year as net inflows topped the R58,2 billion mark setting an industry record while total assets rose to a new peak of R546,7 billion.

Inflows for 2006 were bolstered by...

February 2007
More prevarication from the industry

Despite numerous attempts by the Financial Services Board (FSB) to encourage funds to submit their pension surplus apportionment schemes, the rate of submission continues to be disappointingly slow.

...

February 2007
Creative cover

The South African advertising and film industry has continued to develop as a major global destination for moviemakers, attracted by the exotic locations, reliable weather, and lower production costs.

No...

February 2007
Yawning chasm

There is still a yawning chasm preventing the harmonising of human rights and business ethics, says Charles Pillai, the Ombud for Financial Services Providers.  Speaking at the Business and Human Rights...