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RISKAFRICA News: Pta broker to pay back R500 000 to client


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A broker forced to reimburse a destitute client her entire investment, how tech is changing insurance and where South Africa fits in terms of global political instability … it’s all in the latest RISKAFRICA News.


                        RISKAFRICA News: Pta broker to pay back R500 000 to client


In today’s newsletter for RISKAFRICA magazine, readers can peruse the following articles, cherry-picked from various news sources:

  • FAIS ombud Noluntu Bam has instructed broker Herman Waschefort, of Pretoria-based property investment fund Investiplan, to repay R500 000 to an unemployed client after he advised her to invest in the fund and she lost all her capital. Bam found Waschefort and Investiplan were either conducting an illegal scheme, or were negligent in not advising clients that the fund was unsustainable and they risked losing their money
  • Technology will change the face of insurance in South Africa in the next few years, making it more convenient and personalised – and the time is ripe for nimble insurers to disrupt traditional insurance companies
  • California’s insurance commissioner has issued a call for insurers to get out of investing in coal miners, which are an increasingly risky bet – but insurers aren’t that happy about it
  • Marsh has released its Political Risk Map 2016 – and its assessment of South Africa may come as a surprise (or not)

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