Impact of load shedding on consumers
Businesses and households were left scrambling to keep the engines and the lights on after the national power utility, Eskom, suddenly plunged South Africa into darkness over a week ago. Speaking in Parliament on Tuesday last week, Minister of Public Enterprises, Pravin Gordhan alluded to the fact that Eskom was facing structural, operational and financial challenges.
Employee disability benefit claims – employer responsibilities and benefit options
Employee benefits such as a retirement fund, healthcare insurance, medical scheme membership, group life and disability benefits are pre-negotiated and agreed upon as part of the employment process and contracting. Typically, these benefits remain in place until the employee-employer relationship concludes through resignation, dismissal, retrenchment, retirement or death.
Rate reprieve will lift holiday spirits after a tough year
While many factors indicated the possibility of a rate hike, the South African Reserve Bank (SARB)’s decision to hold their key lending rate provides some relief after a challenging year.
ESG in the insurance industry is in its infancy
The insurance industry is still in its infancy when it comes to most environmental, social and governance (ESG) concerns. While there’s much work to be done, I believe the two are a marriage made to last for insurance to meet its mandate to make a meaningful contribution in people’s lives.
Automation and AI can bolster the fight against money laundering
Several extensive investigations around the globe into the activities of banks have revealed massive failings in the fight against money laundering. The research showed that more and more criminals are exploiting the financial system and laundering their black money by means of quick and immediate remittances.
Beware of vishing as scammers look for spare cash
Unfortunately, vishing is not new, but customers may be new to the scam. That’s why we want to warn customers, particularly in these tough economic times, when consumers are more vulnerable. Vishing is a method used to trick banking customers into divulging their confidential banking details, to scam unsuspecting bank customers out of their hard-earned money.
Growing the long-term insurance industry in times of economic downturn
The insurance landscape is one of ever-changing complexity. The regulatory environment is shifting, consumer expectations are changing, while fast-developing technologies require business models to become more refined to enable innovation, improve risk management and deliver greater value to clients.
What consumers need to know about PMBs cover
If you are a medical scheme member, you have probably heard the phrase Prescribed Minimum Benefits or PMBs. But precisely what are they, who are they for, and when do they get used? It might help to answer some of your questions and concerns and help you to understand what you are entitled to and how PMBs fit into your medical aid cover.
NHI alternatives?
The Department of Health’s Dr Anban Pillay has slammed the Free Market Foundation (FMF) for criticising the National Health Insurance (NHI) Bill and has requested that we submit reasons why we believe the government’s proposed NHI scheme will not work and a list of proposed alternatives.
Certificates of Compliance for solar systems & inverters
Insurance policies often contain a standard clause requiring policyholders to comply with the laws of the country where the policy is issued. The intention behind the clause is to ensure that policyholders act in a lawful manner. Failure to comply may lead to policy exclusions or the denial of claims.
