In the news today: Municipalities owe Eskom R17bn, King Price is named SA’s most innovative insurer by a UK magazine, and medical fraud remains the most pervasive type of fraud in South Africa


Municipalities owe R17bn to Eskom

Minister of Cooperative Governance and Traditional Affairs, Zweli Mkhize, is attempting to broker a deal to break the impasse between Eskom and defaulting municipalities. “Municipal debt is not an Eskom problem, it is a national issue,” he told Parliament yesterday.  READ MORE

King Price named SA’s most innovative insurer

King Price has been named Most Innovative Insurance Brand in South Africa by the UK-based Global Brands Magazine. The awards attracted more than 7 000 entries from around the world.  READ MORE

Medical fraud still the most pervasive type of fraud in SA

Medical aids lost at least R15-20bn of total private healthcare industry spend to fraud last year, with the Board of Healthcare Funders of Southern Africa reporting about 10-15% of all claims as fraudulent, abusive or wasteful.  READ MORE

Emerging economies have $160bn insurance gap

New research from Lloyd’s and the Centre for Economics and Business Research (CEBR) shows that approximately $160bn of assets are underinsured in the world today, leaving an exposure gap that threatens livelihoods.  READ MORE

Khaya Gobodo appointed MD of Old Mutual Wealth and Investments

Khaya Gobodo, currently deputy MD of the division and managing director of the investment group, will succeed Dave Macready on 1 January 2019.  READ MORE