Tag: Aon South Africa

Smarter underwriting, stronger risk management and closer collaboration between insurers and engineers are shaping the industry’s future. Engineering has always been about progress. It stretches the limits of knowledge, materials and technology to solve complex problems. However, innovation and risk remain inseparable. Every project carries uncertainty.

In today’s competitive marketplace, companies face mounting pressure to attract and retain investors. This pressure can tempt leaders to overstate achievements or inflate projections. Some may also resort to window dressing. While these tactics can polish a company’s image, they raise the risks of corporate ‘washing’. More seriously, they can cross into misrepresentation or securities fraud

Cyber incidents continue to grow in frequency and severity, especially as new technology emerges. While D&O and cyber liability policies offer distinct coverage differences, terms need to be carefully structured to avoid potential gaps.

Navigating the current volatile geopolitical and macroeconomic landscape is crucial for businesses. This is essential to ensure uninterrupted trade and access to finance. Escalating geopolitical tensions and strained trade relations continue to test global economic resilience.

Our 5th Global Transaction Solutions Claims Study uncovers emerging trends in insurance claims. The report focuses on Representation and Warranties (R&W), Warranty and Indemnity (W&I) and tax insurance. The study examines claim size, frequency and severity in North America (NA), Europe (including the UK), the Middle East and Africa (EMEA) and Asia and Pacific (APAC).

We live in a volatile world where geopolitical risks, economic inflation, natural disasters and an increasingly complex regulatory environment are applying pressures on all fronts, including the insurance sector. Underwriting requirements are becoming stringent, and prospective clients are having to provide far more granular information about their portfolio of risks as well as risk mitigation measures, while reduced capacity and insurer appetite for certain classes of risks remains a real concern.

Any business relying on machinery and equipment for its operations is exposed to the probability of significant financial losses due to a breakdown of a key piece of machinery that isn’t quickly or easily replaced or repaired.

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.

South Africa joins over 60 countries that will head to the polls in 2024, with heightened risks for civil unrest reminiscent of July 2021 top of mind. 2024 has been dubbed the election year, with voters in more than 64 countries heading to the polls.

With an economic growth forecast of only 1.6% over the next three years for South Africa, businesses are facing a tough trading environment, exacerbated by the impact of geopolitical tensions, disruptive new technologies, persistent weather catastrophe threats and failing public infrastructure and services.