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August 2007
Plastic plethora

Not a month goes by when I am not offered pre-approved credit. This month it was Direct Axis (again) and American Express. Neither know what the other is doing, yet both are offering a R50 000 loan.
How do...

August 2007
Causing inflation

I still think the Reserve Bank’s interest rate policy is screwball. They are trying to control inflation by raising rates – maybe on the premise that borrowings will reduce and that this will slow down the money...

August 2007
No escrow from Eskom

The recent three-day power failure in Bedfordview (early May) seriously disrupted businesses there, especially in the sprawling Eastgate Shopping Centre. And as winter draws near fears are growing that power outages...

August 2007
Out with outages

South Africa’s inability to meet the growing demands for electricity has become a chronic concern and a top priority for the government. Indeed, the issue was raised in the two most influential speeches to date this...

August 2007
Food for thought

According to a number of London Brokers airline premiums continue to fall even though the statistics look a bit sideways. This is mostly due to extra capacity in the market – which always happens when some profits...

August 2007
Hard to crack

Monthly guide on underwriting conditions of certain medical risks
Life underwriters do not see that many cases of drug abuse; most addicts use virtually every penny to finance their habit and would seldom...

August 2007
Is it or isn’t it? Does it matter?

We had many responses to our Car Rental cover story (published last issue – see Insurance Times & Investments Vol 20.6 July 2007 page 16), which was also published through our web site, ITInews Online. Many...

August 2007
Waivers are not insurance

Every decade or so, someone takes the view that car hire firms, because of the waivers they use, are offering insurance, are not registered to do so, and the FSB investigates the issue.  It is then discovered...

August 2007
A real gem

The Government Employees Medical Scheme (GEMS) has reported a membership total in excess of 127 000 principal members, representing medical scheme coverage for approximately 355 000 lives. This steady growth means...

August 2007
Payback time

More than half a million retirement annuity (RA) fund and endowment policies benefited from value enhancements implemented by life insurance companies over the past six months in line with the Statement of Intent. The...

August 2007
Homespun advice

Homeowners are getting jittery; they want to know if the time is right to jump out of property into other investment opportunities. The short answer is a yes – and no.

Says Gavin Opperman, Managing...

August 2007
Waking up

The poor performance of the bond market has finally hit the headlines. As is often the case with these things, public awareness has been slow to follow. Although some bond markets did not peak until 2005, many (...

August 2007
Fears unfounded

There seems to be some confusion relating to the treatment of lump sums on retirement. This follows the recent proposals by the SA Revenue Services (SARS) embodied in the Taxation Laws Amendment Bill of June 2007....

August 2007
Grouping to cut costs

Deciding which type of retirement fund is appropriate for you or your staff is no simple task, although trends in the industry clearly favour an umbrella solution as appropriate for most.

While...

August 2007
New platform

Santam says its “new risk management platform” aims to make consumers aware of the bizarre things that can go wrong in the crazy world of insurance. And it has embarked on a campaign to offer the best advice on...

August 2007
Graduation success

Over 155 unemployed matriculants from disadvantaged backgrounds in the Western Cape, KwaZulu-Natal and Gauteng recently graduated with qualifications in the financial services industry. This is part of Old Mutual’s...

August 2007
Honesty the best policy

The Ombudsman for Short-Term Insurance says that consumers have a duty to disclose relevant information and any material changes in circumstances, to their insurers to avoid the possibility of having their claim...

August 2007
Oldies can save

Older South Africans are missing the chance to save thousands of rands a year in short-term insurance commitments because they fail to take discount opportunities.

First Link Insurance Brokers, the short-...

August 2007
Our recommended programs

We use millions of lines of code these days to run our Computers. From business, education to design and gaming, the little PCs have come a long way since the early Eighties. Apart from the washing up (unfortunately...

August 2007
Controlling claims

Under the auspices of the South African Insurance Association (SAIA), TransUnion encourages insurers to share their claims and underwriting data and join the fight to continue reducing fraud levels and make better...

August 2007
Discredited

I have to think back a long time to find any law as convoluted and as messy as this one. I am referring to the National Credit Act 2005 (NCA), which became fully effective 1st June 2007. It seeks to regulate every...

August 2007
Fear kills reason

Deciding to appoint a new courier company we gave DPEx a chance. Although the agent was nice enough, the questionnaire was very detailed, and the company needed a surety. This was signed despite the fact it was...

August 2007
Slot machine

Forty years ago Reg Varney, a popular British comic actor, changed the face of banking by becoming the world’s first cash machine customer at Barclays Enfield branch in North London. On Wednesday, 27th June 2007, the...

August 2007
Getting customer focused

PricewaterhouseCoopers (PwC) has released its tenth survey on banking in South Africa and continues to focus on the theme, Strategic and Emerging Issues in South African Banking.

Banks operating in South...

August 2007
Only temporary

The newly introduced National Credit Act 2005 will undoubtedly lead to delays in the application and granting of mortgage bonds. But Sotherby’s International Realty (SA) believes the situation will turn out to be only...

August 2007
Next phase

The Board of Santam Limited and Mr Steffen Gilbert, the Chief Executive of Santam Limited, today announced a decision made by mutual agreement, whereby Mr Gilbert will step down as Santam CEO with immediate effect,...

August 2007
Naughty Natis

The various components of the motor vehicle management system (comprising, in the main, motor vehicle registration and licensing, motor vehicle roadworthiness testing and police clearance) form an important part of...

August 2007
More study time

A welcome respite to the FAIS qualification deadlines has been announced by the Financial Services Board (FSB)

It says that extensions have been granted after it was established that between 40% and 42%...

August 2007
Driving consumer protection

The Life Offices’ Association (LOA) has noted with concern recent media reports alleging contraventions by member companies active in the consumer credit insurance market of the commission and remuneration regulations...