Tag: Adams and Adams

Prescription refers to the extinguishment of a legal claim or the loss of a right to take legal action due to the passage of time. The purpose behind prescription is to promote legal certainty, avoid stale claims, and provide a fair and just resolution to disputes.

There have been reports regarding the rise of non-indemnity claims stemming from unnatural deaths. This is certainly worrying for life insurers. This is particularly concerning because life insurers have had to entertain several claims in the past couple of years due to COVID-19 related deaths, and subsequently, the July 2021 unrest and the 2022 Durban floods.

The news that dominated the headlines during the weekend of 15 – 17 September 2023, was the storm surge incidents that swept across three coastal provinces – the Western Cape, Eastern Cape, and KwaZulu-Natal. Mainstream media and social media alike were abuzz with the news. Since then, videos depicting the storm surges have been circulating across various media platforms.

The global business community is undergoing a transition towards a green economy driven by a shared recognition of the urgent need to address climate change, protect natural resources, and promote sustainable development.

The Constitution of the Republic of South Africa, in its supremacy status, requires all three arms of the State, (i.e., the legislature, the executive and the judiciary) to adhere to, and uphold all its principles. There is a need to discuss the principle of separation of powers as enshrined in the constitution, with regards to Regulation 7 to Road Accident Fund Act 56 of 1996, as amended.

A few years ago, several well-known short-term insurance companies took legal action against an intermediary company due to the damages they incurred as a result of the intermediary's collapse. The intermediary, presently in liquidation, was responsible for the collecting and accounting of premiums owed to the insurers.

Many policyholders are underinsured, whether it be deliberately or ignorantly so. Either way, it may just come back to bite them at the claims stage. Underinsurance arises when the amount for which an object is insured is less than the actual value thereof.

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.

It is becoming normal to wake up to reports of fires - since the July 2021 civil unrest there have been at least a further four major fire outbreaks reported.

In what can best be described as a robust and 'no bars held' move, Russia has declared that champagne producers must now include the designation 'sparkling wine' on their champagne products manufactured for export to Russia.