Santam to appeal after losing CBI court case in South Africa

Santam to appeal after losing CBI court case in South Africa

Santam to appeal after losing CBI court case in South Africa

Santam is to appeal against a court ruling that found South Africa’s largest non-life insurer liable to pay a client’s claim relating to a coronavirus lockdown. Insured hotel group Ma-Afrika successfully argued it was wrong to reject claims made under contingent business interruption policies after they were forced to close, following government lockdowns in the eye of the Covid-19 pandemic.…

Supply chain and business interruption top risk list across Africa

Supply chain and business interruption top risk list across Africa

Supply chain and business interruption top risk list across Africa

Supply chain and business interruption have become the number one risk across Africa. According to the Risk Frontiers Africa 2020 survey, political risk has been overtaken as the risk most worrying those with African interests, for the first time since Commercial Risk Africa launched the survey in 2013. The Covid-19 pandemic has clearly had a huge impact on business across…

Time for wholesale change to risk management approach, suggests South African Professor

Time for wholesale change to risk management approach, suggests South African Professor

Time for wholesale change to risk management approach, suggests South African Professor

Almost all risk managers believe the Covid-19 pandemic will increase the focus on operational resilience, but there is also a call to reimagine how risk management operates to enable organisations to thrive in a post-Covid-19 world. According to a survey by the Institute of Risk Management (IRM), conducted earlier this year, 92% of risk managers said the focus on resilience…

President Ramaphosa receives South African Risk Influencer of the Year award

President Ramaphosa receives South African Risk Influencer of the Year award

President Ramaphosa receives South African Risk Influencer of the Year award

South African President Cyril Ramaphosa, as chair of the National Command Council established under the Disaster Management Act, has been honoured by the Institute of Risk Management South Africa (IRMSA) for the impact the risk-adjusted strategy had on responding to the enormous risks posed by the Covid-19 pandemic on the country and its people. Jackson Mthembu, minister in the presidency,…

Congolese risk managers warned not to buy cover abroad

Congolese risk managers warned not to buy cover abroad

Congolese risk managers warned not to buy cover abroad

Congolese risk and insurance managers have been warned not to buy their insurance cover overseas, after the Insurance Regulatory and Control Authority (ARCA) of the Democratic Republic of the Congo (DRC) issued a reminder of a “ban on direct insurance abroad” for anyone living on Congolese soil. The ARCA explained this decision was taken by the government following resolutions made…

Tough times ahead as Asia emerges from the pandemic

Tough times ahead as Asia emerges from the pandemic

Tough times ahead as Asia emerges from the pandemic

Patrick Chan, director and general manager of Nova Risk Services Holdings and board member of Brokerslink, spoke to Liz Booth about the challenges of doing business through the Covid-19 pandemic… In Asia, insurers have recently been extending coverage on existing health insurance policies to cover treatment costs or provide Covid-19-specific death cover, according to one leading broker. Patrick Chan, director and…

IRMSA Risk Report 2021 set to help prepare for the post-Covid world

IRMSA Risk Report 2021 set to help prepare for the post-Covid world

IRMSA Risk Report 2021 set to help prepare for the post-Covid world

Focusing on the lessons learned from Covid-19, the Institute of Risk Management South Africa (IRMSA) has claimed that its annual Risk Report, due to be launched in February 2021, will be one of its most important yet. Christelle Marais, vice-president of IRMSA and chair of its risk intelligence committee, explained that the 2021 report will focus on lessons learned from…

Nigerian curfews extending as protests spread

Nigerian curfews extending as protests spread

Nigerian curfews extending as protests spread

Nigeria has extended curfews beyond the city of Lagos as anti-riot officers struggle to quell violence following protests against police brutality. Risk managers in Nigeria, as well as in other parts of the world, have been fearful of political violence in the wake of Covid-19 lockdowns. They said the risk was escalating as people grew angrier about the state of…

Brokerslink adds Eswatini broker to network

Brokerslink adds Eswatini broker to network

Brokerslink adds Eswatini broker to network

Intermediary network Brokerslink has announced the addition of Eswatini-based Ensure Insurance Brokers (Ensure) to its international network, bringing its presence in Africa to 33 countries. Ensure has built up a strong reputation, trading on almost 30 years of expertise in commercial, industrial, corporate and personal lines. Its addition to the network is a further demonstration of Brokerslink’s commitment to building…

Risk managers must encourage agility within business

Risk managers must encourage agility within business

Risk managers must encourage agility within business

Businesses in South Africa have no choice but to transform digitally if they are to become agile enough to survive the next ‘black swan’ event. That was the warning from Spiros Fatouros, CEO at Marsh Africa, speaking at the Institute of Risk Management South Africa’s first virtual annual conference. He told delegates: “We realised very quickly that the pandemic was…

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