Insurance law

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Living and Conducting your Business with minimal risk

Introduction The principle of insurance has been with us for ages and has developed into a complex problem that sometimes trips up even the smartest people. Nonetheless insuring us against all the uncertain perils that life or business can throw at us is of cardinal importance. Insurers indemnify (“covers”) the insured’s interest in assets or […]

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Resignation

Subrogation

Introduction   In the area of insurance law, the doctrine of subrogation can be best described as an insurer claiming against a third party for an insured loss suffered by an insured person. The claim against the third party would be on behalf of the insured and not in the insurer’s capacity. The doctrine is […]

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Micro-Insurance

Micro-Insurance In South Africa

Introduction Micro-Insurance refers to an area of cover made accessible to low-income individuals. The idea of Micro-Insurance is to offer a less expensive way for individuals to protect themselves against loss or damage. With there being more involvement in the formal insurance sector, the majority of South African median households have been left without a […]

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Insurance claim rejected! Reasons for rejection

A vehicle insurance policy is essentially nothing more than an agreement between an insurer and an insured, which stipulates that for a premium payment every month by the insured the insurer will pay any damage to the insured (or third party’s) vehicle, on the assumption that the insured abides by the terms and conditions of […]

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Trusts as Shareholders and Buy and Sell Agreements

In a previous article the use of trusts in companies as valuable BBBEE planning strategies was highlighted; specifically from a compliance perspective. Using trusts as estate planning vehicles mainly to house shareholding has become an equally effective estate planning and business continuity planning strategy. However, some vital tax and other implications are often missed and […]

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