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August 2010
Responsible marketing

South African life companies have just a couple of months left in which to implement a number of provisions designed by the Association for Savings and Investment South Africa (ASISA) to mitigate the risk of...

August 2010
False hoods

South African life insurers last year detected a record number of 4 826 attempts by policyholders and beneficiaries to access policy benefits through fraudulent and dishonest means.

Peter Dempsey, deputy...

August 2010
Poised for growth

The rate of premium growth in the South African insurance market considerably outstrips its counterparts in the rest of Africa. The local insurance industry accounts for 91% of Africa’s life premiums and half of the...

August 2010
Tales of old

Motor vehicle warranties: Circular RV.73, dated 26th October 1982: To all short—term insurers

1. It has come to the attention of this Office that various parties which are not registered as insurers in...

August 2010
Legal nonsense

The Ombudsman for Short-Term Insurance is concerned about the number of complaints received from consumers relating to motor vehicle warranty contracts. These are usually included at the time of purchase of a motor...

August 2010
The gatekeeper

Before you know it the 24th of October will be here and consumers will be able to exercise their rights under the no-fault product liability provisions of the Consumer Protection Act for all goods supplied on or after...

August 2010
Finding bad apples

South Africans who engage with financial intermediaries are set to benefit from the Financial Intermediaries Association of Southern Africa’s (FIA) acceptance of a new Code of Conduct and its decision to focus on...

August 2010
JSE index story

The past three year performance for local equities has been dismal – essentially flat at 0,25% per annum over this period. “With this type of return it is only natural that clients question the feasibility of...

August 2010
Avoiding anxiety

Price volatility causes investors great anxiety, but they should rather focus on the income that investments generate over time. Admittedly, longer term means more than five years when it comes to equity investments...

August 2010
Old message

Much of the marketing information from investment firms continues to press home the point of taking a long-term view when it comes to investing. “The research and information that we have seen over time lends credence...

August 2010
Absolute or relative?

There are some pretty strong views out there as to whether equities (domestic and foreign) are cheap or not. Unsurprisingly, some commentators and fund managers are of the view that equities are a screaming buy while...

August 2010
Time for a free lunch

This last decade has been exceptional when one considers the performance of the JSE relative to global markets. In fact the JSE has outperformed the MSCI World Index by a whopping 260% in US$ terms. “Will the next ten...

August 2010
Breaking the cycle

With the South African transport industry in a state of anarchy, some insurers are forced to minimise their financial risks by repudiating claims wherever possible.

Comments Chris Barry, Managing director...

August 2010
Don’t miss out

Too many South Africans are missing out on the cost savings and advantages of continuing the death and disability benefits they enjoyed under their group scheme after they leave their employer.

Alison...

August 2010
Checking up

The Financial Services Board (FSB) is considering establishing an e-learning retirement funds trustee training tool to assist trustees in fulfilling their fiduciary duties and responsibilities with greater confidence...

August 2010
Impossible task

How likely are you to have R6-million in savings and investments at your disposal when you turn 60? If you are planning to retire at this age, then that is the amount of money you will need to ensure you have at least...

August 2010
Significant rise in used car prices

According to TransUnion, used car prices increased by a significant 4.5 percent in the first quarter of this year after five consecutive quarters of deflation. In contrast, new car price inflation slowed to 7.4...

August 2010
Best handled

Motor bike and quad insurance is best handled by a specialist insurance broker who can source the most competitive deal, tailor-made packages, excess buy-back options and much more. As a leading bike specialist, Aon...

August 2010
Avoiding finger trouble

We all know someone who feels let down by their pension fund. When it comes to surrender values, very often the figure is far less than anticipated – and in some instances, fees and penalties can be not only excessive...

August 2010
All out for all in

The government’s plans to make third party vehicle insurance compulsory for all South African drivers is likely to lead to a reduction in motor insurance premiums for those who are already paying to insure their...

August 2010
Simply better

The PSG Group has embarked on a major restructuring process to streamline the holding company of its various asset management businesses, PSG Fund Management. The aim is to provide for a focused and simplified asset...

August 2010
Getting capped

The cost of the massive British Petroleum (BP) oil spill from its fractured undersea well in the Gulf of Mexico now stands at about US$2.65 billion (as at mid-July) and rising. It’s anticipated that the insurers,...

August 2010
Voluntary programmes

The South African Reserve Bank (SARB) and the South African Revenue Service (SARS) have jointly announced voluntary disclosure programmes. These are both intended to run from 1st November 2010 until 31st October 2011...