SAIA

South African Insurance Association

+27 11 726 5381

Update on the SAIA Forums

The SAIA Forums have had their first meetings and elected their respective chairpersons to represent them as per the Terms of Reference. Each chairperson will be co-opted to the relevant SAIA Board Committees and will attend the SAIA Board Committee meetings to provide feedback when requested or to obtain a mandate if necessary. The chairpersons will also be responsible for drafting board papers for the relevant SAIA Board Committees and drafting industry submissions with the assistance of members of the respective Forums.

The Forums that will be reporting to the Board Committee Governance Risks are as follows:

Forum

Chairperson

SAIA Travel Insurance

Mrs. Refilwe Moletsane from AIG

SAIA Consumer Credit Insurance

Mrs. Reneé Griessel from JD Group

SAIA Premium Collections

Mr. Janes Du Toit from Miway 

SAIA Cell Captives Insurance

Ms. Gail Walters from Hollard

SAIA Legal Expenses Insurance

Mr. Jan Luwes from Legal Wise

SAIA Health Insurance

Mr. Sven Laurencik from One Group (Underwriting Management Agency  for Zurich)

 

After the first meeting of the SAIA Insurance Guarantees Forum it was agreed that the Forum will become dormant until further developments relevant to Insurance Guarantees arise, as there are no current issues facing this sub-sector of the industry.

The SAIA is still in the process of establishing three Forums, namely:

  • SAIA Agricultural Risk and Crop Insurance Forum (Reporting to the SAIA Board Committee Insurance Risks); 
  • SAIA Mega Infrastructure Projects Forum (Reporting to the SAIA Board Committee Insurance Risks); and
  • Solvency Assessment and Management (SAM) Forum (Reporting to the SAIA Board Committee Governance Risks)

Captive Insurers Forum
The SAIA met with representatives of various Captive Insurers on 31 May 2016 to discuss the possibility of creating a SAIA Forum dedicated to the unique challenges faced by this sub sector of the industry.

Currently eight Captive Insurers are registered with the Financial Services Board of which only one of these Captive Insurers is a member of SAIA.

In order for the Forum to be formally established at SAIA, at least four Captive Insurers must be represented on the Forum.

The SAIA proposed to the SAIA Board on 9 June 2016 that those Captive Insurers that are not members of SAIA join the Association on a fixed fee basis, limited to the SAIA Forum. The SAIA Board approved this proposal. 

Conclusion:

The SAIA urges members to ensure that they are represented on the relevant Forums and that the Forums have the correct level of representation.

For more information contact Promise Mhlanga: Senior Forum Secretariat at  Promise@saia.co.za