Well, 2017 is shortly to be behind us! We sincerely appreciate your continued support and trust we have been able to deliver on our promise of a professional but personal service.

As is often the case, when one looks at history and when storm clouds loom within the insurance industry, this invariably aligns with deteriorating economic fundamentals. Presently, there is political uncertainty and a lack of investment confidence. However, our focus is on the trends within the insurance sector and ensuring our clients are aware of possible influences that these may have on their insurance portfolio.

In the last year or so, numerous large industrial fires, with a higher frequency of medium-sized industrial losses, have occurred. The cumulative effect of these have resulted in







a very real focus on risk management and business willingness to embark on personnel and capital investment to ensure risk mitigation in identified areas. The implementation may vary from fire detection and suppression systems to hot work monitoring and control, and general housekeeping.

 

In this issue

   
   



increasing rates, driven by loss history, risk management and the level of deductibles.
businesses that are taking on more controlled self-insurance in the form of excesses and structured self-funding.

In the smaller commercial SMME sector and personal lines market, the influences have been predominantly





the horrendous Knysna fires.
the recent hail and floods in Gauteng and KZN.
a general nervousness within the insurance industry of the frequency of climatic events that may or may not relate to climate change.
Exchange rate issues and the costs of replacement.

Premiums are increasing as insurers look to recoup losses and make provisions for future occurrences.

In Hamtern Connect, we have included a fascinating article by Dr Guy Preston, a PhD in environmental science, on the five factors that produced the perfect inferno in Knysna, as well as an article reemphasising the importance of fire insurance. Cyber-attacks have received much press as a new and prevalent risk, and we ask: How ready is your organisation? Please contact us to discuss any aspect of this increasing risk.

In response to political uncertainty, many clients have commenced greater investment into Africa and beyond. Hamtern has successfully adapted the structure of numerous portfolios to include these assets. Should this strategy be a part of your forward planning, we are able to facilitate an insurance solution.

Other articles cover lightning and the ‘barking dog’ respectively, as well as recent Hamtern initiatives regarding personal insurance.

Enjoy the holiday break as we all look to reenergise for what is likely to be a challenging 2018. In whatever form however, we look forward to being of service to you in the New Year.

Best regards

Denis, Ian & David

   
 
   

Dr Guy Preston, PhD (Environmental Science) Deputy Director-General: Environmental Programmes, Department of Environmental Affairs.

June 2017 will be remembered by South Africans for decades to come. A historical moment when Mother Nature showed her true power and the only option was to get out of her path and watch in awe.

   
 
   

South Africa loses millions of rands to fire each year. The past fire season saw thousands of people displaced from their homes as a result of fires in the Knysna area, while acres of vineyards were destroyed in the Western Cape in January, decimating revenues within the wine industry. The commercial and industrial sector has also taken a knock. Businesses and enterprise owners who provide jobs and manufacture commodities in the national economy affected by fire have all been hard hit ̶ emphasising the acute need for proper prevention, protection and insurance cover against the risk of fires.

   
 
   

By Rob Scott | Partner | Clyde & Co

Data security and cyber breaches are becoming an almost daily occurrence, as is widely reflected in increased publicity and media reports, which also demonstrate that data breaches are growing both in frequency and scope each year. South Africa has been slow to regulate cybercrimes and data breaches. There are currently two key pieces of proposed legislation that are relevant.

   
 
   

Your Hamtern Personal Lines Team, when conducting research and in talking to you our client, understand that your risks and needs are continuously changing and evolving. We have thus included in the newsletter subjects that relate to what we perceive to be your changing requirements.

Rental Income:
We are aware that many of our clients have properties that would be utilized as a form of rental ranging from Air BnB, BnB or occasional holiday rentals.

   
 
   

Did you know that South Africa ranks in the top three countries in the world for deaths and injuries by lightning strike? Or that at least 100 South Africans are killed by lightning a year?

As we are all aware the lightning season has returned. For some interesting facts and ways to reduce your personal exposure to lightning please see the article below.

   
 
   

My neighbour’s two dogs have been barking incessantly the last few days at all hours of the day and night. My wife and I as well as our young toddler have been getting no sleep and its taking its toll on us personally and at work. Is there anything that we can do legally?

As we near the holiday season your neighbours may be away and your peace disrupted by barking dogs. The article below explains your rights and options.

   
 
   

At the MUA Awards earlier this year, Hamtern Personal Lines was recognised as the overall Broker of the Year for 2016.

Seen from left to right: Lindsay Robertson of MUA, Elaine Fisher from Hamtern, and Dawie Loots of MUA.

   

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