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One of the hottest topics currently, is the creation of additional power through Solar PV (photovoltaic) or generator installations, due to high levels of load shedding. There are several legal and statutory regulations that govern these installations, which we believe…
Forewarned is forearmed – it is always wise to be prepared for the worst. The planned national shutdown on 20 March 2023, the imminent strike of SAPU (SA Policing Unit) and the ongoing strike by Nehawu (National Education, Health and…
Intercepted email scams are increasing at an alarming rate in South Africa. How does an intercepted email scam happen? First, they gain unauthorized access to your email account, through spoofing, clicking unknown links etc. Then, they patiently monitor your email…
Times are hard. On the face of it, renting out your property is an easy way to supplement your income. Insurance Complications However, renting out property has significant insurance complications, particularly with regard to personal insurance policies. Personal insurance policies,…
When? Insurance companies review their pricing, risks and products regularly. In terms of pricing, your insurance premium is likely to increase when you renew your policy yearly, regardless of insurer or whether you have had claims or not. Price increases,…
Santam’s loss data over the last year or so has revealed that most Toyota’s, Nissan NP200’s and Lexus vehicles have been targeted by criminals. The enclosure lists the affected models in detail. This list is not set in stone, as…
It is a widely held view, that in the main, the cause of the dire water situation in the Western Cape is a combination of manmade risks, namely, climate change, a sustained influx of people into the area and poor…
In a world where technology is constantly improving, the amount of electronics being produced and sold nowadays is astronomical. Most of us have moved away from just using our phones to make calls – these very powerful devices can, at…
This is the first in a series of articles on the important role Risk Management plays in insurance. Let’s take a trip down the insurance memory lane. In the beginning, insurance was invented to spread the financial risks of an…
This is the second article in our Risk Management series. Winter is on its way in the Western Cape. Broadly speaking, heavy rain results in a vast amount of damage to buildings in South Africa every year. Some of this…
The recall of the Ford Kuga in South Africa, due to the clear increased fire risk posed, is certainly good news if you own one of these vehicles. This event is also a good example of the application of the general condition of…
In part two of “no policy covers everything”, we are going to explore some of the common uninsurable events and exclusions that often raise their head. Some Common Uninsurable Events or Exclusions On a high level, all reputable insurance companies select their clients and charge premiums, based on the clients risk profile(or the clients’ attitude…
In this first part of “no policy covers everything”, we are going to deal with three “inconvenient truths” about insurance. Inconvenient Truth One: Before You Buy Insurance Before you purchased insurance through Chadwicks, you would have been asked many questions and sometimes insurers asked you…
All short term insurance policies contain a clause detailing the procedure when submitting claims. In general terms this clause compels you, the Insured, to give your insurers notice, as soon as reasonably possible, of any event which may give rise…
Companies who import goods from overseas countries need to carefully consider their terms of sale (which are usually Incoterms 2000) when deciding to insure the international cargo risk themselves or via the seller (terms of sale are then usually “CIF” or…
It is a well known fact that the technology age has paved the way for many exciting innovations, fundamentally altering the manner in which goods and services are consumed. Good examples are platforms like iTunes, Uber, Snapscan, and Airbnb. What…
Recent statistics revealed that South Africans with Household Contents insurance are Underinsured by a whopping 77% and even more alarming is that extent of this Underinsurance is 61%! So what is Underinsurance and why do insurers insert this penalty in…
The global economic meltdown has, in same way or another, had a negative impact on most South African companies. The implications on your insurance contract are far reaching given that the new replacement cost of plant and machinery has soared northwards due to severe currency fluctuations and…
We live in a world dominated by machines – machines, including those in the “cloud”, which can compute and store vast amounts of data. Our dependence on these machines for data and tasks has reached staggering levels, to the point…
The new Consumer Protection Bill, which has now been enacted, will have far reaching consequences for South African business in that Section 68 imposes Strict Liability on producers, distributors or suppliers to supply or manufacture goods free of defect. The Bill establishes…
It may surprise you to learn that over 40% of companies who suffer a serious fire loss never trade again, so how well prepared is your business to survive a similar disaster? All businesses operating from premises are susceptible to…
Time flies. It was nine years ago that the new card licence system was introduced. Motorists are now in contravention of the law if they are not in possession of a valid card licence. Even more alarming is that motorists…
The new Consumer Protection Bill, which has now been enacted, will have far reaching consequences for South African business in that Section 68 imposes Strict Liability on producers, distributors or suppliers to supply or manufacture goods free of defect. The Bill establishes…
All short term insurance policies contain a clause detailing the procedure when submitting claims. In general terms this clause compels you, the Insured, to give your insurers notice, as soon as reasonably possible, of any event which may give rise…
The trigger for the cover is an accident (as opposed to illness) and the compensation is based on the sum insured you select on Death, Permanent Disability, Temporary Disability, and Medical Expenses. Medicals are not required and age acceptance limits…
Have you paid your premium? Are you underinsured? Is your car sum insured correct? Are all your portable assets correctly insured? What are the security requirements of your policy? Have you disclosed all material facts? Are you are aware of…
A landmark decision made by the Ombud for the Financial Service Providers has ruled against Nedbank Group Insurance Brokers for forcing the homeowner to insure via Nedbank. In short Helena Dennis of Cape Town took a R400 000 home loan…
