Raynold Tlhavani (ZA)

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Gross negligence and reasonable precautions

Subject to the provisions of the policy, the fact that a loss or occurrence insured against is caused by the insured’s negligence is irrelevant. This applies to all negligent acts, even those that are grossly negligent. It also holds true for so-called reckless conduct, if the recklessness involved is nothing other than gross negligence. The … Continue reading

The duty of financial service providers

The December 2015 determination of the Ombud for Financial Service Providers in De Hoop Steenwerwe v Finmar Makelaars reminds us of the duties imposed on FSPs by the FAIS Act and the FAIS General Code. Central to the complaint in this case was the FSP’s failure to update the sum insured under the business interruption section of … Continue reading

Specialty lines insurance in Africa

Africa’s largely untapped specialty lines insurance market has significant opportunities for insurers willing to enter the region. As the market develops, more difficult and unusual risks will be written. Regulations which vary by country must be considered. For example, placing insurance with a locally licensed insurer is often a requirement or a percentage of the … Continue reading

Policy amendment and events

The March 2016 ruling of the ombud for financial services providers in Khoza v Bensure Management Services  is worth reading because it reminds us of an FSP’s obligations regarding an amendment to a policy and the meaning of the word “event”. The complainant took out a Journey policy through the FSP which entitled her to … Continue reading