Changes to the International Financial Reporting Standards (IFRS) are aimed at avoiding another global financial crisis. This is in response to the backlash against IFRS 17 Insurance Contracts from critics in the insurance industry.
Cryptocurrencies, such as Bitcoin and Ethereum, have become well known for their volatile value. In contrast to this, 'stablecoins' are cryptocurrencies that have been specifically designed to have a stable value.
Typically, an insurance policy stipulates that notice of a claim must be given as soon as possible or within the time limit stipulated by the policy. While this may seem simple enough with a straight-forward assets policy, liability insurance is markedly different.
The out-break of Covid-19, which originated in China and has since spread to most of the world, is one of the most serious threats to public health in recent times and has now been designated as a pandemic by the World Health Organisation.
President Cyril Ramaphosa presented the five-level, risk-adjusted strategy that will guide South Africa’s emergence from lockdown. As the finer points of the strategy were shared, it became clearer how - and when - certain sectors will once again gear up into activity.
The Financial Advisory and Intermediary Services Act (FAIS) is designed to create a professional code of conduct with specific outcomes and measurements which Financial Services Providers (FSPs) must comply with.