Corporate risk now at critical level in South Africa

Corporate risk now at critical level in South Africa

Corporate risk now at critical level in South Africa

As South Africa enters a new adjusted level-three Covid-19 lockdown, its critical businesses have been re-evaluating their risk strategies with concerns for the year ahead. Gillian le Cordeur, chief executive officer of the Institute of Risk Management South Africa (IRMSA), said the government was left with little choice but to act even though the impact on the economy and jobs…

Are risk managers doing enough on business continuity?

Are risk managers doing enough on business continuity?

Are risk managers doing enough on business continuity?

Risk managers across South Africa have been urged to take another look at their business continuity plans as the country faces a second wave of Covid-19. The Institute of Risk Management South Africa (IRMSA) hosted a debate on the impact of the Covid-19 second wave and concluded there are six critical things risk managers have to ensure from a risk…

Covid-19 second wave: cancel Christmas or save the economy?

Covid-19 second wave: cancel Christmas or save the economy?

Covid-19 second wave: cancel Christmas or save the economy?

With South Africa in the throes of Covid-19’s second wave and the potential of another lockdown, the Institute of Risk Management of South Africa (IRMSA) wants to support effective risk assessment and proactive decision-making by the government and private sector. Christopher Palm, chief risk adviser at IRMSA, said the question of whether to cancel Christmas or save the economy isn’t…

Swiss Re Corporate Solutions granted direct insurance licence in South Africa

Swiss Re Corporate Solutions granted direct insurance licence in South Africa

Swiss Re Corporate Solutions granted direct insurance licence in South Africa

Swiss Re Corporate Solutions has been granted a direct insurance authorisation from South Africa’s insurance regulators. Both the Prudential Authority and the Financial Sector Conduct Authority have approved the licence for Swiss Re Corporate Solutions Africa, which is located in Johannesburg and fully operational. The company said it will underwrite some of the largest and most complex risks in South…

Cyber risk associated with disruptive and transformative technologies

Cyber risk associated with disruptive and transformative technologies

Cyber risk associated with disruptive and transformative technologies

Covid-19 has shaken up the virtual world – and cybercriminals along with it, warned Jonathan Crisp, risk intelligence committee member at the Institute of Risk Management South Africa. He said: “In speaking to Junaid Amra, head of the forensics technology solutions division at PwC, it is somewhat terrifying to hear the extent and sophistication of organised cybercrime, and that it…

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.…

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,…

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…

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…

Rising unemployment posing major threat in South Africa

Rising unemployment posing major threat in South Africa

Rising unemployment posing major threat in South Africa

Unemployment could reach more than 50% of the South African population this year, causing a major threat to stability. That was the stark warning from Herman Mashaba, politician and leader of ActionSA, speaking at the Institute of South Africa Risk Management Association’s annual conference, held virtually for the first time. Delagtes heard of the convergence between politics and risk, with…

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