Insurance News

South Africa’s insurance industry is waking up to the rise of artificial intelligence being used to perpetrate scams and fraud in the country, and is equipping itself to retaliate.

Severe storms and natural events are increasing in South Africa, and homeowners are warned to maintain their insurance and property to avoid high costs.

Eskom has recently confirmed it will use satellite technology to target non-compliant solar systems, and homeowners are warned to ensure their systems are properly registered.

After building a career in the insurance industry, Sandra Snowball experienced, first hand, the importance of comprehensive insurance when she lost her home to a fire.

South Africans who enjoy visiting shopping malls are being warned that criminals are increasingly targeting vehicles parked at these centres.

The South African Bureau of Standards (SABS) published new safety regulations for electric fences nearly two years ago, and while not widely publicised, they are being enforced to some extent.

While stories abound of people fighting with their insurance companies over one or other issue – although friends and family may not be a reliable source – a minimal number of complaints reached the office of the Ombudsman for Short-term Insurance (OSTI) last year.

One of the reasons why insurance claims are rejected is because the insured failed to understand the details of the policy, especially what is covered and what isn’t, according to the Ombud for Short-Term Insurance.

South African insurers have different coverage conditions for home solar power systems, which may include expensive sign-offs by two types of engineers and registration with a client’s relevant power utility.