SAIA

South African Insurance Association

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Forums Update

 SAMIA

The South African Machinery Insurance Association (SAMIA) held its final monthly meeting for 2016 on 06 December. This brief summary provides an overview of the association’s plans, accomplishments and key actions aligned to its mission of promoting technical understanding, knowledge transfer and social interaction between its members. It also recognizes the many individuals and sponsors who provided generous support in favour of the associations efforts.

Annual Engineering Insurance Conference

It is with great excitement that I reveal that the inaugural Engineering Insurance Conference 2017 is being planned. The conference is provisionally scheduled for mid-October at the Kloofzicht Country Estate.

The programme is lined up with a broad content of engineering insurance related topics by professional speakers with construction, insurance, reinsurance, broking, risk management and loss adjusting experience. The conference event includes a photographic competition for the best engineering insurance related photograph (e.g. bridge, road, building, electro-mechanical, plant, machinery, equipment, etc.). Please diarise the date, submit your registration, keep your cameras in focus and look out for further pronouncements in the local insurance magazines or SAIA circular. Contact the SAMIA executive or Promise (SAIA administrator) on promise@saia.co.za for any queries.

Lunch-time talk
SAMIA hosted an interesting lunch-time market event at the Hollard Insurance company on 31 August 2016. The talk on RDR (Retail distribution Review) was presented by Mr Danny Joffe. Due to the huge interest in the subject, a repeat presentation is being planned for 2017.

Training
SAMIA plans to present an Introductory Engineering Insurance Course on Contract Works and Third-Party Liability insurance during 2017. The course is currently in development and will be accredited for CPD points.

Chairman’s award
The SAMIA Annual luncheon was held on 17 November 2016. The Chairman’s Award - 2016, for excellent service, dedication and contribution to SAMIA was presented to Mr Derrick Werner.

IMIA conference
The recent IMIA conference was held in Doha, Qatar between 3-5 October 2016. The following technical papers were presented at the conference – Cyber risk, Contractors Plant and Equipment, Cost overrun in project insurance, Natcat modelling and Excavations support. The papers have been published on the IMIA website and are available for download.

The working Group Paper topics for 2017 are: Waste to energy, Rolling stock, Diesel engines, Inconsistent insurance/reinsurance and Adequacy of sum insured. Any interested persons wishing to contribute towards the compilation of the research papers is encouraged to search the IMIA website for further details.

For more information contact Zain Hoosen at Zain.hoosen@zurich.co.za