According to a recent report, growth in the life insurance market globally has lagged behind the banking and manufacturing sectors and insurers are losing share to industry players not traditionally involved in life insurance. For example, asset management is being done by third party capital providers, marketing is being taken over by search engines like
The claim for damages for abuse of rights must establish that the defendant exercised a right solely or predominately with the motive of harming another person and without advancing a significant interest of their own. If the person allegedly causing the harm was seeking to advance a reasonable interest of their own, a bad motive
On 11 May 2016, the Department of Trade and Industry announced in Government Gazette 39981 that the new credit provider registration threshold will be Nil (R0). Is the threshold rational and reasonable? If the threshold is not rational, credit providers whose credit agreements are to be declared void may be able to challenge the threshold.
The Interpretation Act 1957 explains when laws commence and what happens when a law is repealed.
If a day is not set for the coming into operation of a law, that day will be the day when the law was first published in the Gazette as a law.
If any act provides
The English Court of Appeal decided that the exception in an attorney’s professional indemnity policy against cover for trading or personal debts or breach of contract for goods or services supplied to the practice does not exclude the insurer’s liability for money owing to a legal expenses insurer for breaching their policy conditions.
An After
The Interpretation Act 1957 applies to the interpretation of all laws, so it is a useful act to know.
The act was last amended to incorporate the 1993 Interim Constitution. While there are some archaic and strange provisions, like the mention of the former colonies and the Royal Letters Patent of His Majesty King William
A US bank employee left her individual token in her computer and left the computer running at the end of a work day. Overnight two unauthorised wire transfers had been made to different banks in Poland and one of $485 000 could not be recovered.
The policy covered loss resulting from hacking but excluding loss
In two UK cases the court confirmed that, when there is an underlying contract between parties who may become liable to each other but who take out insurance as part of their deal, the agreement is likely to be construed as being an agreement to insure for the joint benefit of both parties. It follows
The use of technology in the health sector is on the rise. The intersection of these two industries leads to interesting legal questions relating to digital risk, including big data analytics, data security and privacy.
In his budget speech on 10 May 2016, Minister Aaron Motsoaledi discussed the following interesting medical technology initiatives being undertaken
If a loan is repayable in instalments and includes an acceleration clause that if the debtor defaults on paying any instalment, the creditor is entitled on notice to terminate the loan agreement and claim the full balance outstanding, the debt ordinarily only prescribes three years after the date of the notice claiming the full outstanding