A policy that indemnifies household contents insured for a break-in or theft that requires the observer to “see physical damage” will compensate the insured only if physical damage can be seen by the insurer after the event.
The insured in Pillay v The Hollard Insurance Company Limited alleged that various items of clothing and other
Cyber-risk has become the most significant concern for today’s boards. How does a company protect itself and how does a board deal with it?
Cyber-risk forms an important part of an organisation’s risk management concerns. Wise companies have a chief risk officer or a special committee of the board that deals with this type of
National Treasury has published draft Regulations which allow tax free savings products and investments from 1 March 2015.
Licensed banks, long-term insurers, managers of registered collective investment schemes, authorised users (stock-brokers), linked investment service providers (LISPs) and the National Government will be able to offer tax free savings and investments to the public and will
A US court limited coverage for a carbon monoxide leak that killed one person and seriously injured others in different apartments in a single block. There was a single cause and therefore one occurrence.
The court found that while the gas undoubtedly travelled to different rooms within a single building at different times over several
Anticipating the widespread effect of the new withholding tax on interest, extensions to its application have been promulgated. The latest Taxation Laws Amendment Bill proposes a further extension of the implementation date to 1 March 2015.
Payments of interest to or for the benefit of a foreign person by a South African borrower will be
The South African market should not take Treating Customers Fairly lightly. The Financial Conduct Authority (FCA) fined Swinton Group Limited £7.4 million for an aggressive sales strategy that resulted in the mis-selling of monthly add-on insurance products.
The FCA has now also fined three former executives of Swinton £928 000. The executives have been banned
The insurer AXA in the UK successfully brought a private prosecution for a fraudulent claim.
The insured alleged that he had damaged his back in the course of his employment and claimed £100 000 against his employer. Medical records showed that the back injury pre-existed the date of the alleged injury and evidence suggested
Given the current initiatives to promote private investment in the South African electricity market, the execution of the power purchase agreement between BMW South Africa and Bio2Watt’s biogas plants that will bring “renewable energy” to BMW’s manufacturing plant in Rosslyn, Pretoria is sure to blaze the trail for new private power generation and offtake markets
A simulated transaction occurs when the parties structure their transaction to achieve an objective other than the one that appears on the face of the agreement. Contracting parties may arrange their affairs to avoid a statutory prohibition as long as it does not result in a simulated transaction in fraud of the legislation.
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