Yearly Archives: 2012

Economic Sanction Risks Explained

As discussed in the previous edition of FA News, the increase in the implementation of international sanctions necessitates the incorporation of the Sanctions Clause into all (re)insurance agreements where sanctions pose a risk. That said, (re)insurers need to have adequate systems and control measurements in place to prevent infringements of applicable sanctions legislation. They should Read more »

“What does not kill you makes you stronger”

Commenting on key aspects that impacted on the South African Insurance industry in 2012, Gareth Beaver, CEO of Centriq Insurance highlighted pressurised revenue and premium growth as a result of the softer rates cycle (across the board), the continued low interest rate, the undesired impact of increased claims values and volumes on various classes of Read more »

Insurance and the Sanctions Clause

Click here to view the published editorial in RISKSA January 2013 edition. Both Europe and the United States are imposing stricter and stricter economic sanctions against countries that are not United Nations compliant. Financial and criminal penalties are enforced for non-compliance while the provision of insurance is increasingly prohibited. Robin Burgess, senior underwriter at Centriq Read more »

From Good to Great – The seven habits of highly effective people

A company’s success is effectively the cumulative effect of the successes and achievements of its people. Provided they are successful in what they do of course, people are a company’s most important asset. If not, they may well be one’s biggest (and most important) liability. Gareth Beaver, CEO of Centriq Insurance elaborates on what to Read more »

Insurers and their UMA’s

Aside from the growth of direct insurers and economic uncertain times, the war for talent and increased regulation challenged the short term insurance sector over the years. Sydney James, client manager at Centriq Insurance elaborates on the challenges facing Insurers and their UMAs. Changing legislation and the far-reaching impact thereof Pending the outcome of the RE Read more »