Ombud orders broker to cough up for late submission of claim
December 1, 2010
An insurance broker has been ordered by the FAIS Ombud to compensate a transport operator R171 875, 56 after an insurance claim was repudiated owing to late notification by the broker. Templeton Zama of Vereeniging-based…
Policy holders who have violation cover for their motor vehicle should always remember, in the event of their claim being repudiated by their insurer, due to unintentional violation or non-compliance, to check with their financial…
Subrogation Mauled
December 1, 2010
This is a matter of the small case which went horribly wrong. Subrogation was completely misunderstood. The insurers by way of a subrogated recovery instituted action in the Magistrate’s Court for R16 000-00 in respect…
Proposed amendments to the Short-term Insurance Act
November 1, 2010
Proposed amendments to the Short Term Insurance Act have been welcomed by financial services group, RBS, as being well-thought out and bringing clarity to the industry. The draft that is now released is well thought…
Insuring the World Cup - looking back
November 1, 2010
In June 2008, after a suggestion by the IISA’s Theo Vels, I went to SAFA House to be part of the World Cup 2010 insurance tender evaluation team. I was offered the job as Insurance…
Does an insurer have a duty to defend an insured?
November 1, 2010
A question which has received a great deal of attention in other countries, especially the USA, but virtually none in South Africa is: does a liability insurer have a duty to defend an insured? The…
Hospitality insurance at a glance
November 1, 2010
Thanks to the Soccer World Cup, the hospitality industry is booming. As the industry grows in South Africa, more hospitality-type business owners rely on their establishments as a primary or sole source of income or…
Confidence is returning to the airline industry with airlines predicting a 13% increase in passenger numbers in 2011, according to Aon, the world’s leading insurance broker and risk manager, in its Airline Insurance Market Indicators,…
