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June 2008
Fat fees

The local authorities have announced that they intend to press for legislation to register the currently unlicensed airfields. Most of these are private farm strips and such like.

Presumably the main aim...

June 2008
Group benefits

In the recent release of consolidated annual financial results, the Professional Provident Society Limited (PPS) reported that total assets for the financial year ended 31st December 2007 exceed R12 billion. This was...

June 2008
No breach

The Johannesburg High Court judgment in Guardrisk Insurance Company Limited v Napier of 29th June 2007 is one of those rare South African cases dealing with the interpretation of a reinsurance policy. The Lloyd’s...

June 2008
High body count

The idea of the office of Ombudsman originated in Sweden, but did not spread to other countries until the 20th century, when it was adopted in other Scandinavian countries. In the early 1960s, various Commonwealth and...

June 2008
Regarding charge….

To begin with there is no such word as ‘Ombud’, as far as I know. It may be a term adopted to get round the ‘man’ thing. It’s a horrible word, like hairstylists using the word, unisex. And it doesn’t make sense if you...

June 2008
Better business

While there are a lot of grey areas over jurisdiction between the six ombudsmen officiating in the financial services sector, Finmark Trust says it also identified “incorrect referrals” where complaints from consumers...

June 2008
Price check

“Medical scheme trustees would be negligent in their duties if they did not go to all hospital groups in search of the best value for their scheme members,” says Otto Wypkema, CEO of the National Hospital Network (...

June 2008
Ombudsman’s advice

The Ombudsman for Short-Term Insurance urges all consumers to review their policies of insurance urgently and to check that they are adequately insured for the specific risks for which cover is required.

...

June 2008
Going for 60/40

Consumers and small businesses in South Africa are increasingly moving towards direct purchasing methods when it comes to buying short-term insurance. And it’s largely due to ongoing innovation and technological...

June 2008
Take time to consider

No one can blame a financial institution, small or large, from developing products that have specific features. A financial institution’s business is no different from, say, a motor dealer. They both create products...

June 2008
No option but….

Diversification is unquestionably one of the most important investment principles for reducing risk. For South African investors, there are several compelling reasons to achieve this by investing at least some of one’...

June 2008
Total Expense Ratios

“The compulsory display of Total Expense Ratios (TERs) has been a great success in helping investors understand the balance between costs of investment and rewards in different collective investment schemes,” says Ian...

June 2008
Misuse concerns

Although funeral policies are universally accepted as necessary in South African culture, they do not always achieve the desired result says Lisa Gibbon, Divisional Managing Director at Medscheme Financial Services....

June 2008
An eye for detail

Law and tax are very complicated affairs, made worse by the constant and sometimes confusing amendments. Fortunately there is a company in Cape Town, IHS SA (Pty) Ltd, (which used to stand for Information Handling...

June 2008
Utterly ruthless

A man hijacked in KwaZulu Natal early May was taken hostage by four armed men and forced to accompany them on a crime spree, which included two further hijackings, one in which a man was allegedly shot in his driveway...

June 2008
Being bullied

We are all being bullied into the view that it’s no good unless it’s electronic. That’s a far cry from reality in the cockpit. Many of the most horrific crashes have had to do with misunderstanding of language between...

June 2008
Work together

The two main reasons for life insurers to decline a death claim on an individual life policy are suicide, committed within two years of a policy’s inception, and the material non-disclosure of facts during the...

June 2008
Health broking

Absa says it recently acquired the consulting, actuarial, administration, and healthcare departments of Glenrand MIB Benefit Services. Various private funds, umbrella funds and insured schemes are included in the deal...

June 2008
Oil keep an eye on you

Set Point Technology Holdings has announced the opening of the company’s third WearCheck laboratory. WearCheck Africa, one of three analytical operations in Set Point, monitors the condition of oil and lubricants for...

June 2008
Aussie dollar deal

From early May investors have been able to trade Australian Dollar/Rand Currency futures contracts on Yield-X, the JSE’s interest rate exchange. This is the fourth currency futures contract to be launched on Yield-X...

June 2008
Minister miss

“It is a concern to us that changes to public health policy might be made using statistics that do not reflect the current healthcare spend in South Africa,” says Graham Anderson, Principal Officer of Profmed....

June 2008
SAIA comment…..

“Just as we thought that the long awaited Second Hand Goods Bill had been shelved and forgotten about,” remarks the SA Insurance Association, “It has suddenly been introduced to Parliament and referred to the...