CIB LAUNCH INNOVATIVE INSURANCE POLICY FOR SA’S GROWING HIGH NET WORTH INDIVIDUAL MARKET

May 2012: According to the most recent Global Wealth Report, South Africa will produce more millionaires than 20 other emerging economies by 2016. The report also predicts that the number of local millionaires will increase by 242% to 243 000 by 2012. In order to service this rapidly growing market, CIB Insurance Administrators (CIB) has officially launched Vertex, a tailor-made insurance product specifically targeted at the high net worth individual (HNWI) market in South Africa.

EVERYDAY COMMERCIAL INSURANCE MYTHS DEBUNKED

April 2012: In today’s increasingly competitive local and global environment, obtaining financial security via customised insurance is key to the growth of a business. Understanding the fundamentals and more importantly, the myths, relating to insurance policies is therefore crucial in order to secure financial peace of mind in the unpredictable event of damage or loss. 

INCREASE IN PERSONAL LINES CLAIMS IN SA OVER THE LAST QUARTER OF 2011

April 2012: More than half of insurance brokers recorded an increase in personal lines insurance claims over the last quarter of 2011. This is according to a recent survey conducted by CIB Insurance Administrators (CIB), which asked brokers what type of insurance claims they have witnessed an increase in during the last quarter of 2011.

CONFIDENCE INDEX REVEALS HIGHER CONFIDENCE LEVELS AMONGST BROKERS GOING INTO 2012

February 2012: A recent survey conducted by CIB Insurance Administrators (CIB) has revealed that insurance brokers in South Africa are re-gaining confidence in the South African economy.

CIB TO SPONSOR VODACOM SUPER RUGBY FROM 2012

January 2012: The South African Rugby Union (SARU) today welcomed CIB Insurance Administrators (CIB) into their sponsorship family after CIB secured a new three year partnership deal as an associate sponsor for Vodacom Super Rugby.

SA FARMERS FACE INCREASED INSURANCE RISKS IN 2012

January 2012: Severe weather conditions recently recorded throughout South Africa, such as the heat wave and fires in the Western Cape and erratic rainfall in the Mpumalanga and Limpopo provinces, has highlighted the urgent need for farmers to reassess their risk management processes.

IMPORTED AUTO GLASS TO DRIVE DOWN INSURANCE COSTS FOR SA CONSUMERS

October 2011: In a move to reduce the cost of claims for local consumers, CIB Insurance Administrators (CIB) has formed an affiliation with global company, Grandmark Glass, with the hopes of creating awareness around international glass pricing trends. Through this partnership, CIB are now able to relinquish excesses for its clients that make use of Grandmark windscreens. s.

SURVEY REVEALS SA BROKERS ARE NOT CONFIDENT THAT CRIME IS UNDER CONTROL

September 2011: A recent survey conducted by CIB Insurance Administrators (CIB) amongst insurance brokers has revealed that they have confidence levels of only 31% that crime in South Africa is under control.

SURVEY REVEALS CONFIDENCE HAS DECREASED AMOUNGST BROKERS

August 2011: The latest CIB Broker Confidence Index (BCI), which measures the confidence levels of South African insurance brokers, revealed a 3% overall drop in confidence in the second quarter of 2011 to 65% from 68% in the previous three months. The CIB BCI measures broker confidence on a number of factors, including outlook for the local economy and business conditions in the insurance industry.  

SA BUSINESSES UNLIKELY TO EXPERIENCE DRASTIC INSURANCE HIKES FOLLOWING GLOBAL CATASTROPHES

August 2011: While insurance premiums in countries such as the US and Japan have risen sharply as a result of the spike in global natural disasters in the first half of 2011, it appears likely that South African businesses will not experience similar increases.