Is your property under-insured?

The recent flooding and weather-related damage, especially along the KZN coastline, has resulted in a significant increase in claims, coupled with steep increases in building costs. This has a direct effect on policyholders: what may have been a sufficient sum insured for one's property may now be insufficient. Should a property-owner be under-insured, they may be financially responsible for a portion of the costs incurred in restoring the property to its original state.

Noteworthy news in numbers

100: number of LEDs that were lit up using a revolutionary 'fabric' that turns energy generated by body movements into electrical energy.

350: number of pupils at the Cape Town French School, which includes a youngster who is among the three best students in the world in History.

$142-million: record-breaking price of a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupe, sold at the Mercedes-Benz Museum in Stuttgart, Germany.

Protecting plantations with drones

Drones and satellite remote sensing may soon be used to monitor the impact of the Eucalyptus snout beetle on the health of eucalypts. Management of this invasive pest, which is native to Australia, relies mainly on biological control by a tiny wasp, Anaphes nitens, which was first introduced into South Africa in 1924. This has been relatively effective but in the past few years, infestations have increased and damage to local eucalypt plantations is on the rise.

Relay attacks on the rise

The Insurance Crime Bureau has reported an increase in the theft of newer models of Sports Utility Vehicles (SUVs) that have keyless entry and ignition technology, with criminals using 'relay attacks' to gain access. Essentially, the key fob of the vehicle is constantly transmitting signals, looking for its linked vehicle. This signal enables the driver to gain keyless entry and operation of the vehicle when the key is nearby. By amplifying this signal, the perpetrators tap into the active emission of the key fob signal, allowing them to open and drive off with the vehicle.

Young South African entrepreneurs to watch

Youth unemployment remains one of the most significant challenges facing South Africa today. With more and more young people unable to find work, youthful entrepreneurs can play a significant role in creating employment opportunities for their peers. From artificial intelligence (AI) language-processing bots to startups challenging traditional farming practices, these young entrepreneurs solve problems in their communities, promote sustainability, and create jobs.

Cargo sailboats

International companies are choosing innovative solutions to help decarbonise supply chains in line with consumer pressure. Some are using "cargo sailboats" instead of vast container ships, with wind-powered vessels carrying products such as coffee, whiskey and wine across the Atlantic ...

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.