Signs of a hardening market for South Africa

Signs of a hardening market for South Africa

Signs of a hardening market for South Africa

Risk managers might find insurance costs on the rise after the first signs of a hardening market in South Africa’s reinsurance space. Just as Deutsche Bank was saying it was too early to call the end of the low rate market globally, at The Insurance Event 2017 in Sun City this week there were signs that South Africa may have…

IISA names new president

IISA names new president

IISA names new president

The Insurance Institute of South Africa (IISA) has named Daryl De Vos, managing director, Africa Re Corporation SA (ARCSA), as its new president, replacing Delphine Traoré Maidou, who has been in the role for the past two years. After close to two decades of varied insurance and reinsurance experience, during which he established himself as a key player in the…

Risk managers must think the unthinkable

Risk managers must think the unthinkable

Risk managers must think the unthinkable

Risk managers should be thinking the unthinkable and should stop believing in black swans, delegates were told at a risk event in Cape Town. Chris Palm, chief risk adviser at the Institute of Risk Management South Africa (IRMSA), was speaking at the IRMSA Cruywagen Risk Lab in Cape Town, explaining that he struggled with the concept of black swans because…

Regulatory compliance risk challenges for a mining company

Regulatory compliance risk challenges for a mining company

Regulatory compliance risk challenges for a mining company

The legislative requirements with which mining companies in South Africa have to comply have significantly increased in the last decade. At present, a dual-listed entity such as Lonmin is required to comply with requirements of at least 16 regulators in South Africa, combined with additional requirements from the UK where its primarily listing resides. In addition, it also has to…

Risk management pay surveyed for first time

Risk management pay surveyed for first time

Risk management pay surveyed for first time

South African risk managers enjoy increasing pay packages, with benefits, according to a first ever survey by the Institute of Risk Management South Africa (IRMSA). IRMSA commissioned 21st Century to conduct a customised remuneration and benefits survey for its members (individuals and organisations) within the risk management industry. “This survey, the first of its kind in South Africa for the…

Liability of directors for corporate environmental transgressions –  a South African case study

Liability of directors for corporate environmental transgressions – a South African case study

Liability of directors for corporate environmental transgressions –  a South African case study

  Daniel Le Roux and Christopher MacRoberts consider how recent prosecutions have shown the limits of directors and officers cover in environmental protection cases The risk environment for directors of companies that pollute is changing. In South Africa a raft of recent prosecutions of directors and officers for corporate environmental transgressions brings into focus the limits of directors and officers…

Strong headwinds

Strong headwinds

Strong headwinds

Gareth Stokes takes a look at the changing fortunes of South Africa and the impact on business South Africa, once the darling of emerging market Africa, is teetering at the edge of an economic abyss. A poisonous cocktail of cadre deployment, corruption, mediocre policy implementation and state capture has stymied domestic economic growth and fuelled the twin evils of unemployment…

Chubb launches Ignite online platform for SME, middle-market companies

Chubb launches Ignite online platform for SME, middle-market companies

Chubb launches Ignite online platform for SME, middle-market companies

Chubb has unveiled Chubb Ignite, an online platform for brokers’ small and medium-sized commercial clients in South Africa. Chubb said the system “is quick and easy to use and allows brokers to quote specialist insurance online and be bound by Chubb within minutes, with instant documentation available online or via email”. The insurer added: “The tool is backed up by…

A thriving organisational culture drives employee engagement

A thriving organisational culture drives employee engagement

A thriving organisational culture drives employee engagement

Culture shapes the wellness of individuals, businesses, communities and nations and is a strong hidden force that positively or negatively affects individuals, businesses, communities and, indeed, South Africa as a nation. Just as a person who is healthy may not necessarily be flourishing as an individual, similarly an organisation (or a nation) could be functioning adequately, but not necessarily thriving…

New joiner at risk management group

New joiner at risk management group

New joiner at risk management group

Lisa Willemse is the latest recruit to South Africa-based risk consultancy CGF. She will join the team of lead independent consultants. Ms Willemse has acquired a wealth of business experience in the past 17 years in various industry sectors, ranging from engineering and IT to manufacturing, mining, transport, publishing and advertising. Prior to joining CGF, she fulfilled executive secretarial and…

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