Press releases
MUA is pleased to announce Dawie Loots has joined the team as the new Executive Head of Finance for MUA Insurance Acceptances. I
Submitted by Michaela on Wed, 2012-04-04 15:46Content:
What is your previous experience before being appointed as the Executive Head: Finance for MUA?
After qualifying as a Chartered Accountant with PwC, I gained experience in auditing, the motor industry, banking, and most recently, the wine industry.
What are your roles and responsibilities as the Executive Head: Finance?
I will be responsible for planning and controlling the company's overall financial plans and policies, accounting practices and relationships with lending institutions, shareholders and the financial community. I will also have to develop appropriate accounting and statistical procedures for preparing financial reports and maintaining fiscal records, and to appraise operating results in terms of costs, budgets, operating policies, trends and increased profit opportunities.
How did your previous industry experience assist you in this role?
In my career so far, I've gained valuable experience in financial management and I believe that this will stand me in good stead at MUA. Although the insurance industry is very different to, for instance, the wine industry, the fundamentals of financial management stays the same, regardless of industry.
What do you think are some of the biggest challenges in your position?
The biggest challenge for me personally would be to learn as much as I can about the insurance industry and to apply my previous working experience and knowledge to my new position. I look forward to doing this!
What is your advice to people wanting work in the Finance department?
Be prepared to roll up your sleeves, get your hands dirty and always be willing to learn.
What is your favorite way to relax after work?
Kick off my shoes, turn on some music, watch the sunset and spending time with my wife.
What is your personal motto?
Give your best in whatever you do, make every minute count, and above all, have fun.
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- Michaela's blog
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Microdot Technology now a law:
Submitted by Michaela on Wed, 2012-04-04 12:48Image/Video:
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MUA is pleased to announce that amendments to the National Road Traffic Act now require that all new vehicles registered in South Africa as of 1 September 2012 must incorporate Microdot technology. MUA believes this is a hugely positive step towards the identification and recovery of stolen vehicles and could possibly benefit consumers through reduced motor insurance premiums in the future.
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MUA previously reported on this superb technology which involves the spraying of new vehicles with thousands of 1mm diameter-sized Microdots onto a minimum of 80 different parts of the vehicle. Each Microdot contains a microscopic 17-digit laser-etched VIN and personal identification number (PIN), which allows for the vehicle to be traced back to the registered owner. The Microdots are only visible under a ultra-violet light and visible through a magnified lens.
Only one dot is required to trace the owner, whose details are registered on a national database. The Microdots are also applied both covertly and overtly, making it far more difficult for thieves to remove or conceal the microdots, or strip parts of the car for resale.
Once the Microdot technology has been applied, the vehicle is fitted with a warning sign which acts as a visual deterrent to would-be criminals. Microdot manufacturer DataDot Technology South Africa estimates that Microdot-fitted vehicles are 50% less likely to be stolen than those that are not. Furthermore, a study conducted by Business Against Crime South Africa (BACSA) found that the recovery rate of cars with Microdot technology is 91%.
The technology is already supported by the South African Insurance Association (SAIA) and it is a good idea for brokers to speak to their clients about the benefits of having their vehicles fitted with Microdot technology, MUA is offering reduced premiums for clients who incorporate the Microdot Technology. Please contact Michelle Bellin National Claims Manager at MUA mbellin@mua.co.za for further information on this.
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GAS INSTALLATIONS – IMPLICATIONS FOR HOMEOWNERS
Submitted by Michaela on Mon, 2012-03-05 12:28Image/Video:
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Due to the rapidly increasing cost of electricity, gas installations have become increasingly popular in many South African homes, yet despite this burgeoning trend, most homeowners are unaware that there are specific regulations that they must comply with when installing gas equipment in their homes to ensure their insurance policy remains valid.
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According to the regulations that were introduced in 2009, all gas installations must have a Certificate of Conformity according to the Pressure Equipment Regulations that have been promulgated under the Occupation Health and Safety Act (No 85 of 1993).
While this may sound like a complex, legal document – essentially it is a certificate that states that the installation has been properly inspected and is determined to be safe and leak free. It is critical that this certificate is also issued by an authorised person who is registered with the Liquid Petroleum Gas Safety Association of Southern Africa (LPGAS).
According to the regulation, any client who has a liquid gas installation installed in their home must have this certificate, which is usually obtained during the installation phase. However, it must be highlighted to all clients considering gas installations that the onus is on the homeowner themselves to ensure that they have this certificate in their possession, not the installer.
If your client’s home is damaged or destroyed, as a result of a defective gas appliance – and they do not have a valid certificate issued by someone registered with LPGAS – the insurance implications could be significant. An insurance company would be well within their rights to repudiate a claim, which could have severe financial repercussions for the client.
Having the installation inspected and approved is a quick and easy process – provided the installation has been done correctly – much in line with similar requirements for electrical installations, which also require a certificate of compliance under the Machinery and Occupational Safety Act of 1983.
The types of gas installations that require this certificate include gas fires or braais, gas stoves and ovens, as well as hot water systems.
It is also vital to stress to clients that such an inspection is not just essential for their insurance policy to remain valid, but even more importantly, that it is conducted to ensure that the installation is safe and their family is not put at risk. If a gas appliance has been incorrectly installed and results in a gas leak this could have major health implications for a family, not to mention the huge danger involved of an explosion.
It is also important to advise your client that if they wish to sell their home and they have a gas appliance installed, they are required to obtain the certificate and deliver a copy thereof to the new purchaser.
LPGAS provides the following useful tips regarding gas safety which you can pass onto your clients:
- Always use a registered installer
- Always use a qualified gas dealer
- Always use a verified and tested gas product
- Always check the seal on a cylinder matches the brand of the cylinder
- Always check gas appliances before use
When it is time to renew your client’s home insurance policy, remember to speak to them about any gas installations they may already have on the property or if they are planning on doing so in the future. Highlighting legal requirements that could impact on their insurance and making sure all of your clients are aware of the above requirements is the job of a valued broker and can be an important differentiator.
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Stricter rules for pool owners could be on cards
Submitted by Michaela on Thu, 2012-01-19 13:58Image/Video:
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The rules governing swimming pools could become a lot stricter across SA if proposed legislation for Joburg is introduced around the country.
Marike Stals, legal and compliance manager at MUA Insurance Acceptances, says it is essential that consumers make sure they are aware of the legal and insurance implications of owning a swimming pool as new legislation could eventually place even more onus on the owner.
Read more by clicking on the link below:
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Insurance considerations for gardens
Submitted by byrnie on Fri, 2011-12-09 08:40Image/Video:
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If you invest substantial amounts of money on landscaping then it is essential to have appropriate insurance cover in place in order to reinstate the garden to its former condition should severe damage be caused.
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If you invest substantial amounts of money on landscaping then it is essential to have appropriate insurance cover in place in order to reinstate the garden to its former condition should severe damage be caused.
Read more by clicking on the link below:
Insurance considerations for gardens
Source: Business Day
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High building costs highlight need for proper home insurance
Submitted by byrnie on Fri, 2011-12-09 08:28Image/Video:
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A new South African survey has revealed that it is almost 30% cheaper to buy an existing house than rebuild one. As a result, it is vital that homeowners consider the rebuild cost when insuring their property, rather than the market value, as they may otherwise be left severely underinsured following damage to their property.
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A new South African survey has revealed that it is almost 30% cheaper to buy an existing house than rebuild one. As a result, it is vital that homeowners consider the rebuild cost when insuring their property, rather than the market value, as they may otherwise be left severely underinsured following damage to their property.
MUA has received the following coverage, click on the links below to read the full story:
High building costs highlight need for proper home insurance
Source: FANews
Source: ITInews
Rebuilding could cost more than a new home
Source: IOL
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Insurance tips ahead of the festive season
Submitted by Michaela on Thu, 2011-12-08 14:40Image/Video:
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In their rush to start the festivities, many people often forget to protect their two most expensive assets, namely their motor vehicle and their home.
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During the festive season, the main priority for most South Africans is to get into their car and start the journey for their holiday destination.
However, in their rush to start the festivities, many people often forget to protect their two most expensive assets, namely their motor vehicle and their home.
This is according to Christelle Fourie, Managing Director of MUA Insurance Acceptances, who says before embarking on any journey it is imperative that all South Africans make sure that all of their insurance policies are up to date - motor, life and disability – and that they have sufficient funds in their bank account to cover the end of month debit orders.
Read more by clicking on the link below
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Insurance considerations for gardens
Submitted by Michaela on Thu, 2011-12-08 14:29Image/Video:
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Insuring your garden against damage is often not top of mind for most homeowners.
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IF YOU invest substantial amounts of money on landscaping then it is essential to have appropriate insurance cover in place in order to reinstate the garden to its former condition should severe damage be caused.
Garden insurance is a specialist form of insurance cover and while some standard personal lines policies do include insurance for the garden, the cover involved is often limited.
Read more by clicking on the link below
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Jewellery store heist highlights need for effective risk strategy
Submitted by Michaela on Thu, 2011-12-08 14:21Image/Video:
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The recent armed robbery at a jewellery store in Germiston, Johannesburg that resulted in the death of a policeman could be as a result of a new crime syndicate.
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The recent armed robbery at a jewellery store in Germiston, Johannesburg that resulted in the death of a policeman could be as a result of a new crime syndicate. As a result, it is crucial that retailers – particularly those holding high values of stock – ensure they not only have effective risk management strategies in place but can also offer trauma counselling should an incident occur.
Read more by clicking on the link below
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Road Accident Benefit Scheme offers hope for the future
Submitted by Michaela on Thu, 2011-12-08 14:17Image/Video:
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The approval of Government’s proposed Road Accident Benefit Scheme (RABS) – recently announced as the successor to the much-maligned Road Accident Fund (RAF) – brings hope for much-needed change to the current system.
The RAF was introduced to enable innocent victims, who have no recourse against uninsured or negligent motor vehicle drivers, to receive some type of compensation. However, over time several issues arose with regards to the affordability and sustainability of the system, including long settlement delays and a disparity between the income of the scheme and its liabilities.
Read more by clicking on the link below
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