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Most recent Articles posted
Khandani Msibi, the CEO of the investment arm of the National Union of Metalworkers of SA (Numsa), has embarked on a new strategy to force the end of the curatorship of 3Sixty Life, the underwriter owned by Numsa Investment Company's Doves Group Holdings (DGH), reports Fin24.
Agnes Setshwantsho (49) – charged in relation to the death of her niece Bonolo Modiseemang (30) in a multimillion-rand life insurance scam – will spend the next week behind bars.
Johannesburg’s severe hailstorm this week is the latest headache for the insurance industry which is sifting through the influx of claims.
Short-term insurers are bracing for the claims that are to follow the recent storms that hit Cape Town, parts of Stellenbosch and Franschhoek, and places along the Western Cape’s southern coast.
Members of a syndicate alleged to have carried out 11 murders for insurance payouts are expected to appear in the Kariega Magistrate’s Court in the Eastern Cape today.
Gauteng High Court (Johannesburg) Judge Ingrid Opperman has ruled interpretations by an insurance company are largely ‘inadmissible’ to a court after the company was challenged by a claimant who suffered a heart attack.
A Pretoria homeowner has been ordered by the SCA to refund Discovery the R1.64m, plus other costs it paid him for a genuine storm damage and household contents insurance claim, because part of the claim related to emergency accommodation was fraudulent.
The KZN High Court (Durban) has struck off from the urgent roll an application by insurance comparison group Hippo that sought to remove a Facebook post of a rival.
Discovery Life has filed a notice for leave to appeal a High Court judgment that ordered it to pay a former stockbroker, who was charged and acquitted of murdering his girlfriend, more than R25m after it previously repudiated his permanent disability claim.
A Cape Town motorist involved in a crash he claimed was not his fault, is seeing red after his insurance company rejected his claim almost a year after the incident occurred, reports IoL.
The Prudential Authority (PA) has said it plans to oppose underwriter 3Sixty Life’s application to the SCA to overturn its final curatorship.
Nine months after 3Sixty Life has been placed under interim curatorship by the Gauteng High Court (Johannesburg), Judge Fiona Dippenaar ruled that the insolvent funeral insurer, owned by the National Union of Metalworkers of SA (Numsa), should be put under final curatorship.
SA’s biggest short-term insurer Santam saw a 60% increase in power surge-related claims by the end of June.
The eight insurance companies that are being investigated for collusive practices could, in theory, face a class-action suit by affected clients, if found guilty.
As the Competition Commission begins sifting through information to build a case against eight of SA’s top insurers that it claims could be involved in price collusion, Werksmans Attorneys’ Ahmore Burger-Smidt has warned of a potential drawn-out legal dispute between the parties over the seizure of documents.
The Competition Commission started raiding the offices of eight major insurance firms yesterday afternoon over alleged collusion and price fixing, reports Fin24.
Fire, faulty workmanship, and natural catastrophes are the top causes of insurance claims for business in SA.
UCT’s Jagger Library, gutted by a fire that started on 18 April 2021, is being ‘reimagined’, but the insurance payout has not yet been secured due to legal action, reports GroundUp.
Santam estimates that its gross exposure to the recent KZN floods is around R3.2bn, reports Fin24. However, as its reinsurers will foot most of the bill, the net impact on SA's largest short-term insurer will be approximately R500m.
A North West widow has successfully challenged insurance giant Liberty's refusal to pay out more than R10m in life cover for her husband.