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Lifting the Lid

After a lot of talk and debate around its merits and risks, the two-pot retirement system came into effect a year ago. Here’s a look at how South Africans have responded and how it’s impacting clients and the industry. If two-pot fatigue has you hoarding headlines in an ever-growing to-be-read folder, consider this your executive summary.

Charting a Course for South Africa’s Financial Intermediaries

“The financial services sector, and intermediaries in particular, face unprecedented change. Emerging technologies are revolutionising the way we interact with clients and product suppliers, while we are grappling with an ever-growing regulatory and compliance workload. It is against this backdrop that I step into my two-year term as President of the FIA,” writes Ronald King, President of the FIA.

Let It Grow

For financial intermediaries aiming to scale their businesses efficiently, growth through acquisition – when backed by strategic funding – can be a powerful tool. By leveraging financing solutions effectively, firms can overcome capital constraints, expand their market presence, and create long-term value, writes By Andrew Reid, Executive Head of Continuity Solutions.

In the Line of Fire

A single spark is all it takes. As climate change turns up the heat, the risk of fire to homes and businesses is on the rise. With the right advice, cover and preparation, property owners can manage their risk – and brokers are their first line of defence, writes Sharon Paterson, CEO, Infiniti Insurance.

Mutually Inclusive

The future of finance isn’t just about products. It’s about partnerships and platforms that work for people and value that’s shared. Michele Jennings, Chief Executive at glu shares how glu’s Profit-Share benefit creates lasting value for members.

Winter Warnings

Winter is a season of elevated risk for clients, which also makes it a season of broker opportunity, writes San-Maré Van Zyl, Chief Operations Officer at MUA. Read on for ways to engage with clients during the cold season – helping them avoid unfortunate events and fostering a closer relationship.

Supporting Your Hospitality Clients Through Every Season

Business interruption – an unforeseen halt in operations – can feel like a direct threat to the very heart of your clients’ businesses, impacting their income and the security of their teams. And in an industry built on welcoming guests, the potential for third-party liability claims is a genuine concern.

Building The Future Together

The risk landscape is shifting beneath our feet – faster, more violently, and more unpredictably than ever before. This evolving risk landscape demands true partnerships in South African non-life insurance, writes Tarina Vlok, MD, Elite Risk Acceptances (a subsidiary of Old Mutual Insure).

Going To Extremes

“Climate risk is no longer a future threat. It’s here, growing, and already impacting insurers, their clients, and the broader economy,” says Momentum Insure Chief Actuary, Rudolf Britz. “As insurers, we have a responsibility not only to adapt but also to help others adapt.”

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  1. APPLICATION OF TERMS
    • These terms and conditions (“Subscriber Terms”) apply to the subscription by any qualifying member of the South African Underwriting Managers Association NPC (“SAUMA”) to the services and benefits offered by FIA Services (Pty) Ltd (“FIA Services”) under the SAUMA affiliation arrangement (“Subscription”).

  2. NATURE OF SUBSCRIPTION
    • A Subscription under this arrangement:
      • does not constitute membership of FIA NPC;
      • does not confer any voting rights or governance participation in FIA NPC; and
      • is governed solely by the contractual relationship between the Subscriber and FIA Services.

  1. ELIGIBILITY
    • To qualify for the Subscription, the applicant must, at the time of application, be a current paid-up member of SAUMA.
    • FIA Services will verify the applicant’s SAUMA membership status with SAUMA prior to activation, and may re-verify such status periodically.
    • If a Subscriber ceases to be a paid-up member of SAUMA, the Subscription will correspondingly be terminated.
    • Applicants are required to authorise FIA Services to confirm their SAUMA membership status with SAUMA as part of the application process.

  1. SERVICES
    • The Subscription entitles the Subscriber to the following benefits:
      • Complimentary access to the FIA CPD Platform;
      • Complimentary access to the FIA Insight Magazine (digital edition);
      • Advertising opportunities on FIA platforms at a discounted rate of 15% (fifteen percent) off the prevailing published rates; and
      • Invitations to attend FIA Technical Webinars annually.
    • FIA Services reserves the right to update, vary or substitute the Services from time to time, provided that the overall value and nature of the benefits remain materially the same.

  1. FEES AND PAYMENT
    • The monthly subscription fee is R260.00 (two hundred and sixty rand) for up to seven registered individuals (Key Individuals and Representatives), and R36.00 (thirty-six rand) per additional registered individual thereafter, excluding VAT.
    • The Subscriber shall provide FIA Services with the required details of each individual to be registered under the Subscription for the purposes of activation and billing.
    • All fees are exclusive of VAT, which shall be charged at the prevailing statutory rate.
    • Subscription fees are reviewed annually in March and may be adjusted with effect from 1 April.
    • Any changes to the Subscription, including but not limited to the number of Representatives and Key Individuals registered under the Subscription, may only be effected once annually during the annual review period in March of each year, with such changes taking effect from 1 April.
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    • Non-payment of subscription fees may result in suspension of access to the Services until such fees are brought up to date.
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  1. ONBOARDING
    • Onboarding will be conducted as a Subscription with FIA Services under the SAUMA affiliation arrangement.
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    • Onboarding is conditional on confirmation of the Subscriber’s current SAUMA membership at the time of application

  1. DATA PROTECTION
    • FIA Services will process all personal information in accordance with the Protection of Personal Information Act 4 of 2013 (POPIA) as set out in our POPIA policies.
    • By subscribing, the Subscriber authorises FIA Services to confirm their SAUMA membership status with SAUMA and to process personal information for the purposes of fulfilling the Subscription.

  1. TERMINATION
    • The Subscriber may terminate the Subscription by giving FIA Services one calendar month’s written notice.
    • FIA Services may terminate the Subscription on one calendar month’s written notice, or immediately if the Subscriber breaches these Subscriber Terms and fails to remedy such breach within 14 (fourteen) days of receiving written notice.
    • Termination of the SAUMA–FIA Services affiliation agreement shall not automatically terminate these Subscriber Terms.
    • Termination by the Subscriber shall not relieve the Subscriber of liability for any subscription fees accrued up to the effective date of termination.
    • FIA Services may suspend or terminate the Subscription with immediate effect in the event of non-payment of fees by the Subscriber.

  1. GENERAL
    • These Subscriber Terms are governed by the laws of the Republic of South Africa.
    • Any disputes arising under these Subscriber Terms shall be dealt with in accordance with the dispute resolution provisions contained in the FIA NPC membership terms and conditions, as modified to reflect that the contractual relationship is with FIA Services.
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    • The Subscriber may not assign, cede or transfer any of its rights or obligations under these Subscriber Terms without the prior written consent of FIA Services.
    • No variation of these Subscriber Terms shall be of any force or effect unless reduced to writing and signed by both FIA Services and the Subscriber.