Yearly Archives: 2013

Top short-term insurance trends

By Nick Krige The past 12 months have been challenging for short-term insurers. With natural catastrophes, complicated regulatory reform and widespread consolidation due to limited potential for organic growth, RISKSA takes a look at the major trends the industry faced for 2013. Regulation Much of 2012 was spent preparing for the impending Binder Regulations that Read more »

Getting ready to leave on a jet plane

By Morgan Thumberdu, client manager, Centriq Insurance If you are anything like me, you would have started a December holiday checklist by now to see what exactly it is you need to do (and pack) for a carefree experience with those you love (or don’t) … While you’re at it, why not do a checklist Read more »

Hannover Re Cocktail function

Hannover Re Africa held its annual golf day and cocktail party at the Houghton Golf Club in Johannesburg in October. The event was well attended by brokers, insurers and service providers to the industry. Guests enjoyed a few laughs as the likes of Camargue’s Mitch Marescia and Peter Jennett of Centriq performed carefully choreographed dance Read more »

NEW APPOINTMENT

Centriq Insurance is pleased to announce that Katja Wentzel, who held the position of executive head of large corporate, has taken over as executive head of risk finance. Wentzel brings more than 16 years’ experience in the insurance industry, and holds a BCom from the University of the Witwatersrand, and an LLB from the University Read more »

A banquet no one hopes will take place

The planning for and management of a catastrophic loss begins long before the event actually occurs. Usually, the placement of insurance coverage as source to fund recovery is the beginning. “But it is only that – an essential start. It is like a table that’s been set for a banquet no one hopes will take Read more »

Centriq maintains A+ five years in a row

Premier insurer Centriq maintains its leading position in the market place, having been awarded an A+ rating for the fifth consecutive year by the Global Credit Rating (GCR) Company. “Our continuous quest for complete customer satisfaction as well as product and service excellence will remain the driving force behind future business decisions,” said Gareth Beaver, Read more »

Be considerate when rejecting a claim

In tough economic times, the claims handling process can be a nerve-wracking experience for the Insured who is naturally concerned about replacing what he had lost. “Whilst most reputable insurers look for ways to settle a claim in terms of the policy wording, there will be the occasion when a claim will be rejected. It Read more »

Risk Financing: Does size really matter?

All companies big or small are facing an increasing assortment of risks due to changes, in the legal environment, to the climate, to technology and expansion by business into new territories. These risks require constant management and once the relevant risks have been identified, they have to be analysed, controlled and financed. According to Palesa Read more »

UMAs: Providing pockets of excellence

Martin le Roux and Peter Jennett have recently taken up the positions of Managing Executives at Centriq.  COVER interviewed these two leaders to get their perspectives on the raison d’etre and sustainability of the UMA model and the challenges that it faces. They added their own reasons for their passion for this sector and this Read more »

Short-term insurers should set IBNER claims reserves

According to Patrick Ndururi, executive head: actuarial services at Centriq Insurance, “it is in insurers’ best interest to hold extra reserves for IBNER (Incurred But Not Enough Reported) claims until the proposed SAM (Solvency and Assessment Management) regime and the exposure draft on insurance contracts under the IFRS (International Financial Reporting Standards) have been implemented.” Read more »