Fast-changing Arctic and North Atlantic conditions bring route risks
Mon, 03 Sep 2018 10:58:02 -0500
Climate change is impacting ice hazards for shipping, freeing up new trade routes in some areas, while increasing the risk of ice in others. More information on the Safety and Shipping Review 2018. There was another milestone for Arctic shipping in early 2018 when a specially-designed LNG tanker became the first commercial ship to travel the Northern Sea Route in winter and without the assistance of an ice breaker.
Damage arising from marijuana operations not covered by policy (US)
Mon, 03 Sep 2018 10:35:15 -0500
Sandra Sithole, Director
Norton Rose Fulbright South Africa Inc. A US appeals court in August 2018 found that an insurer does not have to indemnify its insured for damage to a warehouse by tenants who converted it into a marijuana growing operation, finding that an exclusion in the policy for losses resulting from criminal acts precluded cover.
Associated Compliance Newsletter 068 – August 2018
Fri, 31 Aug 2018 14:19:26 -0500
The August 2018 Associated Compliance Newsletter has been published in the Insurance Gateway Knowledge Base. The compliance landscape has become increasingly time consuming and complex to navigate. It will therefore be well worth your time to read the latest edition of the Associated Compliance newsletter, which offers you an overview and opinions of the latest and most prevalent happenings within the regulatory environment.
SAIA Consumer Education initiative recognised as ‘best practice’
Fri, 31 Aug 2018 13:38:26 -0500
Johannesburg: In its latest infographic on The importance of financial education in promoting financial inclusion, the Belgium based Global Federation of Insurance Associations (GFIA) commended the South African Insurance Association (SAIA)s long-standing consumer education programme, as the best practice initiative in Africa and among the top 5 globally.
Importance of RE Qualifying Criteria
Fri, 31 Aug 2018 13:32:56 -0500
In response to a recent enquiry from a candidate, it is important to highlight the absolute necessity to ensure that you take into account the qualifying criteria when preparing for the regulatory exams.
Financial Services Industry – no need to overcomplicate things
Fri, 31 Aug 2018 13:22:35 -0500
The Financial Advisory and Intermediary Services (FAIS) Act, the General Code of Conduct, the Financial Intelligence Centre Act (FICA), Treating Customers Fairly (TCF), the Protection of Personal Information Act (POPI), the Retail Distribution Review (RDR) and Fit and Proper requirements are just some of the standards and requirements in the financial services industry.
Your complete guide to the South African non-life insurance sector
Thu, 30 Aug 2018 12:47:41 -0500
Johannesburg: Everything you need to know about non-life insurance in South Africa, a 420 page overview of the South African non-life (short-term) insurance industry was launched at the Insurance Conference 2018 held at Sun City from 29-31 July 2018.
Black Business Growth Funding a win-win for financial sector black empowerment
Thu, 30 Aug 2018 09:53:59 -0500
The financial sector has four months left in which to shore up ownership and empowerment financing scores for 2018 against the targets of the Amended Financial Sector Code (FSC) by making use of the new alternative option of channelling funding to black owned enterprises in line with the FSCs Black Business Growth Funding (BBGF) provisions.
The lifecycle of a project risk
Thu, 30 Aug 2018 09:00:59 -0500
Dr. David Hillson, The Risk Doctor Partnership
As we manage individual project risks, they pass through a lifecycle which can be described using a set of status values. These can help us to understand where each risk is in its lifecycle, so that we can determine what we should do next.
The practice of “Defensive Medicine” grows alongside the rise of medical malpractice claims
Wed, 29 Aug 2018 13:56:48 -0500
Aneesa Bodiat, Head of Legal
Natmed Medical Defence (Pty) Ltd
The number of medical malpractice claims in South Africa is rising at an alarming rate, and along with this trend is the potential increase in the practice of defensive medicine.
Paul Brightman - Alternative Risksmiths and Traders (Pty) Ltd. Short name - ART.
Cell : +2783 708 3634 Work : +2711 646 2777
11, Taylor Rd, Greenside, Johannesburg. Code: email@example.com & firstname.lastname@example.org
When finishing a demonstration of the MRHC system, we’re often told that it’s too cheap, but then we are wholesalers aiming for repeat volume sales. We believe that R3,000 per year plus VAT is quite enough for a basic, small business risk management system. You can pay someone else lots of money to pretend that your risks are their risks and they can transmogrify (magically disappear) them for you.
At that price MRHC suddenly has other applications. For example, client, supplier and risk assessment. Wouldn’t you like to have insight as to who’s going to be in business in five years time, or who the better commercial risks are in your client portfolio? It’s also a useful tool for Directors in terms of the new Companies Act due next year in as much as it can assist with the formal justification of certain decisions in our new transparent business environment.
Just because something is useful it doesn’t have to be a rip-off!
Apart from the pricing issue there’s the ‘I’m too busy’ and fear factors. These coupled with the belief that if your business is small then lawmakers, regulators and clients will leave you alone. So why bother with risk management then? The fact is that some really clever people all around the world have realised that just getting you to think about your business risks and opportunities before they creep up on you, is a healthy habit and generally desirable for the economy.
So we are getting the ‘comply or explain’ treatment next year, like so many other counties. Are you in a position to do this? It may not happen next year, but we’ll keep your risk audit trail for you for when it does. We’re not selling questions, but proof of action, as the various King Commissions have indicated.
We include risk profiles, accumulation profiles and solution lists too; however these are incidental to the major components of our value proposition, which include skills transfer, our independent perspective, benchmarking and commitment to continuous development.
You will buy a risk management service eventually or go out of business, so why pay more than the cost of your cellphone?
Paul Brightman - ART (Pty) Ltd.
Creators of Risk Therapy.