Insurance News

Experts have warned that motorists at petrol stations are easy targets for hijackers, as there’s been a notable uptick in the number of incidents reported, while the petrol stations themselves are also vulnerable.

Consumers could save significant amounts of money every month by buying cars that come with affordable short-term insurance premiums.

A recent security video in South Africa shows how criminals are targetting bank cards with the tap-to-pay functionality to steal from victims.

The South African Companies and Intellectual Property Commission (CIPC) holds the registration details of companies, co-operatives and intellectual property rights within a vast database that comprises ID numbers, addresses, contact information and more. It has also recently been compromised in a hack that has left millions of companies vulnerable.

It is a prerequisite of certain classes of insurance that the insurance values are adequate to match the exposure. In the event of deliberate or inadvertent failure to choose a Sum Insured that at least matches or exceeds the value of the property at risk, Average will apply due to the underinsurance.

It is important to bear in mind that insurance requirements should be up to date and comply with the key insurance terms and conditions. Always remember that it could be too late to change what went wrong after the occurrence has taken place. You cannot undo or reverse what has happened.

Securing your home against rain damage during seasonal rains

While South Africa has seen a slight decrease in hijackings year-on-year, the numbers are still alarmingly high, with some provinces experiencing a big jump in hijackings. Presenting the latest quarterly crime statistics for the second quarter of the year – July 2023 to September 2023 – the South African Police Service (SAPS) noted that 6,009 cars were hijacked over the three-month period.

The rising frequency and severity of extreme weather events is on clear display in the claim data of one of South Africa’s leading insurers, underpinning the likelihood of further coverage restrictions and premium increases in coming years. “I have dug up some of our historic data to illustrate what is happening domestically from a climate change perspective,” said Soul Abraham, CEO: Retail Insurance at Old Mutual Insure. “These numbers are useful for advisers and brokers when talking to customers about their insurance programmes”.