THE INSURER | OCTOBER 2018
SIM swap nightmares
Fraudulent transactions using SIM card swaps increased by 104% says the South African Banking Risk Information Centre, with 8254 incidents from January to August this year, up from 4040 incidents during the same period in 2017. Victims receive a call from someone pretending to be from their bank, warning that a fraudulent transaction has taken place. The victim is asked to report the fraud by clicking on a link in a so-called ‘phishing’ email, which diverts the victim to a fraudulent website (which may look very authentic), where information such as username and password is requested, to be accessed by the criminal. This and other information is used to pose as the victim in requesting a SIM swap from the mobile network provider. With the SIM swap completed, criminals receive calls and texts intended for the victim’s cellphone number including the One Time Pin sent by the bank, allowing them to empty the account of funds.
Drowsy driving breakthrough
A new computer algorithm can determine people who are sleep-deprived by picking up changes in certain genes, and could assist with the development of a blood test to see if drivers involved in accidents haven't had enough sleep. Drivers who are even one to two hours short of sleep are nearly twice as likely to have a road accident, according to the AAA Foundation for Traffic Safety. The less sleep drivers have, the higher their accident rate. Motorists in a study who had only four or five hours of sleep had four times the accident rate – similar to what’s seen among drunk drivers. The study by British researchers identified 68 genes that could reveal those who hadn't slept enough with an accuracy rate of 92%.
Stretch your fuel
Petrol increased by 22.6% in the past year and filling up is painful! Fuel-wise tips like driving slower, using less aircon, and maintaining uniform speed with reduced acceleration and braking are well known but consider the following…According to wind-tunnel tests, a canopy or bakkie load-bay cover can reduce drag by over 5%, reducing fuel consumption by 1 to 2%. Roof racks also increase the drag factor significantly, so attach one only when needed. Similarly, the larger the frontal area of the vehicle, the higher the wind resistance and the more fuel is consumed. Don’t use a bullbar unless you really need one.
OcSober
OcSober is a 31-day challenge encouraging people not to drink alcohol in October. The campaign has obvious health benefits as well as aiming to reduce drunk driving statistics. Drinking and driving is one of the biggest threats on our roads, with an alarming increase in accidents and road fatalities. There were 510 road deaths over Easter this year, on top of a 51% increase during Easter 2017. The cost of these Easter deaths is R2-billion, without taking into account the medical costs of the injured, vehicle repairs, and the emotional trauma and lifestyle change to families, as well as a possible criminal penalty and record for the drunk driver. The simple rule of drinking and driving is – don’t do it.
Coffee on order
IBM pioneered hard-drives, laser eye surgery and barcodes. Now the technology giant has developed smart coffee-delivery drones. A new patent describes a system combining drones, cameras and biometric sensors to identify those in need of a caffeine fix. The sensors study pupil dilation and facial expressions to determine thirsty consumers. The drones will watch groups in a coffee shop to assess if they need a top up, based on how long the group has been sitting and whether conversations seem calm or over-excited. Plans include programming drones to recognise famous/popular people and trendsetters and delivering their coffee first.
Are your vehicle extras insured?
Extras on your vehicle can add significantly to its value, so make sure they are included when you insure it. Anything optional that does not come with the standard factory version of the vehicle is considered an extra or accessory, including towbars, tracking devices, music systems, sunroofs, bullbars, wraps and branding, special paint finishes, winches, canopies, long-range tanks, and similar modifications. It is vital to use a professional Safire broker to avoid undervaluing your vehicle. Use the purchase invoice and registration certificate to ensure that the correct make and model of the vehicle are reflected on your policy.
Fire Prevention Week 2018
Fire Prevention Week, a week-long period of fire-awareness observed every October since 1922, took place globally from 7 to 13 October this year, with the theme, “Look. Listen. Learn. Be aware. Fire can happen anywhere”. Smoking remains one of the main causes of household fires, and four out of five deaths each year in America occur at home. Through three simple calls-to-action, this year’s theme identifies basic but essential ways people can reduce domestic fire risks and be prepared in the event of one:
· Look for places fire can start (be alert and proactive about not creating potential fire risks in your home)
· Listen for the smoke alarm, if one is installed, and check it if it sounds – don’t ignore it!
· Learn two ways out of each room
The campaign highlights how important it is to pay attention to your surroundings and to make a note of available exits in the event of a fire or other emergency. Remember "EDITH", which stands for "Exit Drills In The Home".
Cancer awareness
October is Breast Cancer Awareness month, the perfect time for women, especially those over 50 and those with a family history of cancer, to be checked for this disease, preferably by having a mammogram, a non-invasive breast x-ray. Breast cancer is the fifth leading cause of death in women (heart disease is number one). Men also suffer from breast cancer, but it is uncommon: less than one case per 100 men.
Plastic culprits
Coca-Cola, PepsiCo and Nestlé are the largest producers of plastic trash according to Greenpeace, which co-ordinated 239 plastic clean-ups in 42 countries, resulting in the audit of 187 000 pieces of dumped plastic. Coca-Cola was the main culprit, with Coke-branded plastic found in 40 of the 42 countries. The most common type of plastic found was polystyrene, which goes into packaging and foam coffee cups.
Halloween history
Halloween dates back to the ancient Celtic festival of Samhain (pronounced sow-in), celebrated as the beginning of their new year on November 1 and marking the end of summer and the beginning of winter (often associated with death). Celts believed that the night before, on 31 October, the boundary between the worlds of the living and the dead became blurred, and the ghosts of the dead returned to earth.
Hit the waves!
It’s a great way to maximise your bike by riding it on water, thanks to the addition of inflatable pontoons in just a few minutes.
ECONOMIC TIDBITS
$1.04-billion - revenue in dollars taken in one year on the world’s highest-earning flight route, from British Airways’ New York JFK to Heathrow in London.
30-million - number of Facebook users whose personal info was accessed by hackers and could be used for identity theft.
2 754 - number of billionaires in the world, according to this year’s Wealth-X Billionaire Wealth Census. The United States accounts for 25%.
821-million - number of people categorised as hungry in 2017, an increase of 16.6-million, the highest since 2009.
R20 000 - average retail price for the new Apple iPhone XS Max (pronounced “ten S” Max), the largest and most expensive iPhone ever.
R62-million - net loss recorded by the South African Rugby Union last year. It is on the verge of financial collapse.
The Insurer newsletter and the content of any article published herein, should not be construed as forming part of any insurance contract or policy nor as constituting any form of advice. It is aimed at providing an informal and informative read to the readers thereof. Whilst every effort is taken to attempt to ensure the accuracy and correctness of the information contained herein, Safire Insurance Company Limited does not give any assurance regarding such accuracy or correctness and accordingly does not accept any liability whatsoever for any loss or damage, whether direct, indirect or consequential, arising from any reliance placed in the information contained herein.
Reg No: 2000/027673/06
An Authorised Financial Services Provider [FSP No: 2092]
