Welcome to the South African Underwriting Managers Association
- Established in 1999.
- Over 80 Members by 2009
- Representation at IISA, FSB
- Ongoing Communication with Ombudsman - both FAIS and Short Term
- SAUMA Board Members have recently attended Parlilament to state the case of the UMA
- Minimum criteria to become a member of SAUMA including :
- Professional Indemnity of R5m
- Fidelity Cover of R1m
- Underwriting Managers are experts in their niche fields
- SAUMA is fully supported by the FSB
- SAUMA is the only line of communication between FSB and Underwriting Managers
Back Row from left to right : Curt Meyer (Mirabilis Engineering Underwriting Managers),
Rory Gainsford (HICSA), Drew Schnehage (Aquarius Underwriting Managers),
Steve von Roretz (Leppard & Associates), John Towsey (New Wheels Underwriting Agency),
Stuart Benfield (PrimaryAsset)
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Technology in financial services – how are insurers measuring up?
Fri, 27 Mar 2015
By Tunga Changamire, Executive: Claims Risk Management PCBS Technology in financial services is no longer a nice to have it has become a necessity to help insurers deal with increases in fraud, cyber-crime, develop new products, reduce operating costs, retain customers and give consumers value for money.
Swiss Re study shows financial repression affecting ability to channel funds into the real economy
Thu, 26 Mar 2015
Current high levels of financial repression create significant costs and lower long-term investors ability to channel funds into the real economy, a new Swiss Re study shows Since the financial crisis, US savers alone have lost roughly USD 470 billion in interest income Artificially low interest rates that go with financial repression lower incentives for policymakers to tackle much needed structural reforms in Europe Other unintended consequences of financial repression include potential asset bubbles, crowding out long-term investors in otherwise functioning private markets, increasing economic inequality and the potential of higher inflation over the long-term besides distorting private capital markets Swiss Re developed a Financial Repression Index, the first of its kind, measuring the extent of policymakers actions.
10 tips for keeping your data safe in the cloud
Thu, 26 Mar 2015
By Steven Cohen, Managing Director for Sage One Accounting AAMEA (Australia, Asia, Middle East and Africa) If you choose a credible cloud software provider, it will host your accounting or payroll applications and data in a secure data centre underpinned by world-class technology.
Oakhurst Insurance awarded an A- credit rating
Thu, 26 Mar 2015
Oakhurst Insurance Company Limited is proud to announce that they have been awarded with a national scale claims paying ability rating of A- from the Global Credit Ratings Company (GCR). GCRs claims paying ability (CPA) ratings are independent opinions given to short term insurers and reinsurers, rating their ability to meet policyholder and assumed reinsurance obligations.
Scaling the peaks of competence
Wed, 25 Mar 2015
How can you know if you are competent to perform in your role? Many professional organisations produce competence frameworks which attempt to answer this question. Unfortunately most of these frameworks are limited to assessing what you know or what you can do.
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Pretium Compliance Corner
A Newsletter by PS Compliance Warehouse (Pty) Ltd with an emphasis on compliance issues. This is a personalised newsletter that is distributed to their clients, and as such, should be read with this in mind....
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