First Institute of Risk Management-licensed provider named in South Africa

First Institute of Risk Management-licensed provider named in South Africa

First Institute of Risk Management-licensed provider named in South Africa

The Institute of Risk Management (IRM) has announced that W.consulting, Johannesburg, is the first provider of the internationally recognised Fundamentals of Risk Management (FoRM) course in the region. Sanjay Himatsingani, director of training, IRM said: “We are very pleased to be working with W.consulting in South Africa. There has been a big demand for risk management training in the region…

Chubb appoints Ncedi Mbongwe as casualty underwriter

Chubb appoints Ncedi Mbongwe as casualty underwriter

Chubb appoints Ncedi Mbongwe as casualty underwriter

Chubb has appointed Ncedi Mbongwe as casualty underwriter for South Africa and Sub Saharan Africa. Mr Mbongwe will be responsible for the development and growth of the company’s casualty offering, including growing related specialty areas including environmental liability, clinical trials and event liability, as well as building and strengthening relationships with key brokers. He joins from Munich Re of Africa,…

Business interruption tops concerns for South African food and beverage sector

Business interruption tops concerns for South African food and beverage sector

Business interruption tops concerns for South African food and beverage sector

Business interruption is the top concern for the food and beverage industry, with 53% of 68 respondents citing the risk. Reputational risks, with a 31% rating, occupy the second spot, showing a decrease from 2017, according to the Allianz Risk Barometer 2018. Risks from natural catastrophes and fire are at number three and number five respectively, and both represent new…

$400m silicosis class action agreed for South African gold miners

$400m silicosis class action agreed for South African gold miners

$400m silicosis class action agreed for South African gold miners

Six South African gold mining houses have agreed a ZAR5bn ($400m) class action settlement with law firms representing thousands of miners who contracted the fatal lung diseases silicosis and tuberculosis. In the first class action settlement of its kind ever reached in South Africa, the agreement follows a six-year legal battle by miners to win compensation for illnesses they claim…

Beazley covers charities for event cancellation

Beazley covers charities for event cancellation

Beazley covers charities for event cancellation

Beazley has launched a worldwide event cancellation insurance product for registered charities to protect costs and loss of revenue. Beazley said the bespoke product covers charities for income that would have been raised at events, ranging from donations to raffles. The insurer added that charity clients will receive a 10% discount on its standard event cancellation premium. Seren Eaglestone, contingency…

Charles Asirvatham takes over helm at GIC Re South Africa

Charles Asirvatham takes over helm at GIC Re South Africa

Charles Asirvatham takes over helm at GIC Re South Africa

Charles Asirvatham has been named as the new managing director and CEO of GIC Re South Africa, where he took charge of operations earlier this month. Mr Asirvatham joined GIC Re as direct recruit officer in 1986 and in the last 29 years has acquired extensive experience in the insurance and reinsurance fields. Prior to joining GIC Re, Mr Asirvatham…

Untapped tourism potential

Untapped tourism potential

Untapped tourism potential

Political risks dominate the Sub Saharan Africa tourism industry, as Gareth Stokes reports The tourism industry is a major contributor to gross domestic product (GDP) in country markets across Sub Saharan Africa (SSA). Hotels, transport companies and tourist attractions create employment for thousands of people and bring in millions of dollars in foreign currency each year. Stakeholders in the SSA…

High expectations

High expectations

High expectations

The skills gap haunts the risk management and insurance industries across Africa at the moment. However, there are professional bodies trying their best to boost awareness of the profession and the opportunities available. Liz Booth met with Thokozile Mahlangu, chief executive of the Insurance Institute of South Africa, to hear what they are doing to help improve the situation As…

Emerging risk landscape hots up as law firms seek opportunities

Emerging risk landscape hots up as law firms seek opportunities

Emerging risk landscape hots up as law firms seek opportunities

Litigation funders are travelling the world looking for fertile ground to bring claims and finding success in an increasing number of places, warns Tricia Hobson, Norton Rose Fulbright global chair and head of its Australia and Asia-Pacific insurance practice. Speaking in London recently, she said much of the pattern of behaviour follows the US, but claimant lawyers and litigation funders…

China tops TMF Group’s latest Financial Complexity Index

China tops TMF Group’s latest Financial Complexity Index

China tops TMF Group’s latest Financial Complexity Index

The most complex nation in terms of financial compliance is China, according to the latest Financial Complexity Index 2018 from TMF Group, largely driven by the continued embedding of the Golden Tax System, which aims to introduce stricter monitoring and enhanced data sorting and transparency. The Cayman Islands was the least complex jurisdiction out of the 94 jurisdictions covered by…

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