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It has been a busy year for Hamtern, which included our relocation to spacious new offices in Bryanston. We are really pleased with our choice of The Oval Office Park, which has also facilitated the need to expand our staff. Click on the picture below to enjoy a full perspective of our new location.

On the insurance front, extreme weather conditions continue to wreak havoc around the globe and create a growing concern amongst insurance analysts in terms of what if scenarios.

In this issue

Festive Greetings
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The Personal Lines Corner
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Consumer Protection Act
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Superstorm Sandy Update
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BEE status
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Our New Staff Members

Hurricane Sandy (always a female!) caused damage in excess of $20 billion and here in Gauteng we had cricket ball-sized hail stones punching holes in IBR roofing and windscreens. The Eastern and Southern Cape, much of which have been the subject of extended drought conditions, received 250mm of rain in less than 48 hours with consequent massive flooding. This resulted in both damage to housing and infrastructure. Weather-related losses of this nature, particularly if they continue, are very likely to cause a gradual hardening of insurance rates.

On a different note and of some interest, we are experiencing an increase in enquiries for various aspects of short-term insurance in sub-Saharan Africa. These range from Contractors All Risk Insurance for the development of mines, shopping centres and general infrastructure to insurances for emergency evacuation of personnel and associated medical expenses. Our local insurance market is generally receptive to these enquiries by providing the necessary cover at competitive rates when viewed internationally.

So once again the festive season is upon us. Our office will remain open throughout the entire period with a skeleton staff complement over the Christmas week. As always however, please do not hesitate to contact us on our cell phones.

On a more salutary note please see our article relating to the increased risk over this period as there is little doubt that would-be thieves are looking to take advantage.

We once again thank you for your continued support through the year and truly hope our promise of a professional service has lived up to your expectations. Please take care on the roads, enjoy your time with family and friends and we look forward to being of service in 2013.

All the very best.

Ian, Denis and your Hamtern team.

One of the most over-used words in today's society must be 'Global Warming', but do we truly understand the words or even consider the consequences in our day-to-day lives. It is defined as an average increase in the temperature of the atmosphere near the earth's surface and in the troposphere, which can contribute to changes in global climate patterns. Global warming can occur from a variety of causes, both natural and human induced.

The status of indemnities and disclaimers since CPA/01 April 2011

by Advocate Louis Nel of Camargue Specialised Liability Management.

As matters stood before the Consumer Protection Act (CPA) came into effect April 01 2011, you could indemnify yourself or disclaim liability completely, including for you own acts, omissions and negligence. So much so that you could in fact exclude liability for your gross negligence (or conversely limit your liability to causes of action arising from or due to your gross negligence!).

AIR Worldwide, the scientific leader and provider of risk modelling software and consulting services, has produced an estimate of insured losses from Sandy of US$7bn to US$15bn. This stems from damage caused by the wind and storm surge to onshore residential properties, commercial and industrial properties and their contents, vehicles, additional living expenses and business interruption for commercial properties.

Hamtern Financial Services is proud to have been awarded a Level 2 contribution status based on the DTI Score Card guidelines. This allows you, our client, to claim 125% of insurance spend through Hamtern on your Preferential Procurement score, which contributes a significant portion to the overall B-BBEE score.

Hamtern Financial Services is committed to the continuous process of transformation in order to comply with BEE accreditation requirements. We view B-BBEE compliance an absolute business imperative as well as being right for the greater South African social and economic environment.

Welcome David

David Taruvinga joined the insurance industry in 2001, straight after school in 2001. He commenced his career with RM Insurance, a subsidiary of Mutual and Federal in Zimbabwe, and then moved to South Africa in 2009. David successfully tried his hand in insurance broking, before joining Hamtern in September this year. He comes qualified with an I.I.S.A. and has completed both sets of regulatory examinations. David will provide administrative support to both our commercial and corporate clients.

Welcome Perseverance and Nella

Perseverance Mvumvu joined Hamtern as a receptionist at the beginning of July. She now ably manages not only the front desk environment, but also much of the office administration. Perseverance is supported by Nella Rangaka, who assists in the general office and ensures that when you do visit us you will be offered an excellent cappuccino!

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Email:insurance@hamtern.co.za
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