Risk managers are being urged to check their terrorism cover in the wake of the attack on the Westgate shopping centre in Nairobi which killed more than 65 people and injured more than 200 others.
Insurers are being urged to take a tougher line with their insureds in the wake of the fire at Nairobi airport earlier this year.
Sheralee Morland has been elected President of the Institute of Risk Management South Africa (IRMSA) as it celebrates its 10th anniversary. Ms Morland, who takes on the role from Hennie Thessner, has served on the IRMSA Executive Committee since 2010 and has had an invaluable impact on the institute in her previous role as vice president. She serves on various committees, including the events committee, which she has chaired, as well as the finance committee. Sheralee is the General Manager—Enterprise-wide Risk Management at Nedbank.
The buzz around Africa appears to be continuing unabated. The prospect of major oil and gas finds throughout east Africa, together with the fast emerging middle class in many countries and a need for US, European and Asian firms to find new markets, has meant the enthusiasm for doing business in Africa looks unlikely to fade anytime soon.
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Risk managers in Kenya are being urged to ensure insurance premiums are paid promptly if they want to see claims settled efficiently, as increasing competition and non-payment of premiums are forcing underwriters to work unprofitably.
The Institute of Risk Management South Africa (IRMSA) is poised to launch joint ventures in both Namibia and Botswana within the next six months.
Kenya’s UAP Insurance has started selling general insurance products in supermarket stores targeting the mass market where unserved insurance potential is estimated at US$5.8 billion by the local industry.
The European Union has agreed to suspend export licences to Egypt for equipment that might be used for internal repression in response to the growing tensions across the country.
Returning to South Africa—the country of his birth—to discuss his 40 years in the insurance industry, Clem Booth, of Allianz, believes there has never been a better time for Africa.