Risk management not valued by 40% of South African companies

Risk management not valued by 40% of South African companies

Risk management not valued by 40% of South African companies

Almost 40% of South African risk managers have said risk management is not valued by their organisation. Responding to a survey from the Institute of Risk Management South Africa (IRMSA), 39.96% of risk managers said risk management was not valued in their organisation. As part of the 2019 annual member survey, 448 respondents were asked: “What obstacles do you encounter…

African risk management set for boost as Gert Cruywagen heads IFRIMA

African risk management set for boost as Gert Cruywagen heads IFRIMA

African risk management set for boost as Gert Cruywagen heads IFRIMA

African risk management should receive a boost as Dr Gert Cruywagen is elected president of the International Federation of Risk and Insurance Management Associations (IFRIMA). IFRIMA is the international umbrella organisation for risk management associations, representing 20 organisations and more than 30 countries around the world. Dr Cruywagen has represented the Institute of Risk Management South Africa (IRMSA) on the…

New committee elected for IRMSA

New committee elected for IRMSA

New committee elected for IRMSA

The Institute of Risk Management South Africa (IRMSA) recently held its annual general meeting and elected its new executive committee. With the newly elected members, the IRMSA executive committee is as follows: Berenice Francis, IRMSA president Thabile Nyaba, IRMSA vice-president Mark Kuipers, IRMSA vice-president Mark Robins, IRMSA honorary treasurer Fulufhelo Tshikhudo, IRMSA honorary secretary Fortune Mkhabela Christelle Marais Brendan Maseti Andy Mothibi Pavana Ranjith…

Reshika Vallabh appointed head of underwriting at Coface South Africa

Reshika Vallabh appointed head of underwriting at Coface South Africa

Reshika Vallabh appointed head of underwriting at Coface South Africa

Reshika Vallabh, who has been with Coface South Africa for more than ten years, has been appointed as the head of underwriting (commercial and risk), following Johan Coetzee’s decision to relocate to Asia. In her decade at Coface, Ms Vallabh has gained experience in claims as well as commercial underwriting. The company said: “This varied, well-rounded experience, in addition to…

South Africa still has business opportunities but political risks high

South Africa still has business opportunities but political risks high

South Africa still has business opportunities but political risks high

South Africa continues to present attractive business opportunities, according to the annual South Africa Monitor Report. It states: “High political risk, combined with global economic challenges, have already contributed to a massive decline in meaningful foreign direct investment in South Africa. It is expected that the political risk to business will remain high in at least the next two years,…

Medical Protection Society to launch new malpractice SPA at Lloyd’s

Medical Protection Society to launch new malpractice SPA at Lloyd’s

Medical Protection Society to launch new malpractice SPA at Lloyd’s

The Medical Protection Society (MPS) will team up with Everest Insurance and Asta, a Lloyd’s third-party managing agency, to create Lloyd’s Special Purpose Arrangement (SPA) 1892 to cover medical malpractice. The MPS is a UK-based not-for-profit protection organisation that provides professional indemnity cover for some 300,000 doctors, dentists and healthcare professionals worldwide. An SPA is an annually formed syndicate that…

AGCS shuffles liability underwriters

AGCS shuffles liability underwriters

AGCS shuffles liability underwriters

Allianz Global Corporate & Specialty (AGCS) Africa has announced that current head of financial lines, Nobuhle Nkosi, has taken on the additional role of head of liability. She takes over this responsibility from Storm Mhlambi, who has taken a new role of senior liability underwriter and regional practice group leader after relocating to Durban for personal reasons. Ms Nkosi joined…

Risk managers advised to check AML compliance

Risk managers advised to check AML compliance

Risk managers advised to check AML compliance

Risk managers in South Africa have been reminded to check their company anti-money laundering (AML) policies and make sure they comply with the law. In a Risk Chat for the Institute of Risk Management South Africa, the Vodacom Forensic Team under the leadership of Farhad Rahaman warned about reports of crimes such as hijackings, robberies, drug trafficking, fraud and corruption,…

Chubb launches Travel Smart

Chubb launches Travel Smart

Chubb launches Travel Smart

Chubb has launched the Chubb Travel Smart app for business travellers, to help manage risks for employees. The South Africa-based insurer said Chubb Travel Smart is the company’s duty of care solution designed specifically for employees to help manage and mitigate risks as they travel for work. It provides a range of benefits for business travellers, including pre-travel eLearning, direct…

South Africa: business as usual?

South Africa: business as usual?

South Africa: business as usual?

With political risk again being cited as the number one risk facing business across Africa, according to many risk managers, it was no surprise people were watching the recent elections in South Arica with such interest, as David Kaye reports Risk managers were watching to see the political fallout after Cyril Ramaphosa and the incumbent African National Congress (ANC) party…

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