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IOL News
9 hours ago
- Automotive
- IOL News
Point of view: Santam's 2025 Insurance Barometer exposes rising risks across SA
Santam's 2025 Insurance Barometer reveals critical insights into the rising risks faced by South African households and businesses, highlighting economic pressures, infrastructure challenges, and the impact of climate change on the insurance landscape. Image: Freepik South Africa's short-term insurer, Santam, has released its 2025 Insurance Barometer, which paints a sobering picture of the risks confronting local households and businesses. Economic strain, infrastructure decay, crime, and increasingly erratic weather patterns tied to climate change have emerged as key concerns. Now in its fourth edition, the biennial report offers a detailed pulse check on global and local risk trends. Drawing insights from nearly 900 consumers, businesses, and brokers across the country, the report captures shifts in public perception alongside expert industry analysis. Atang Matebesi, CEO of Santam client solutions, said the short-term insurance sector must remain agile. 'Once again, weather volatility, infrastructure concerns, and socio-economic challenges have created a tough environment for local insurers. This has been exacerbated by ongoing geopolitical turmoil... threatening the affordability of the Motor and Heavy Haulage classes of insurance.' Matebesi noted a concerning development: 'A trend is emerging where vehicles that normally wouldn't be written off are being declared total losses because repair costs have skyrocketed due to costly imported parts affected by the geopolitical environment.' Balancing premiums while ensuring sustainable underwriting practices is an ongoing challenge. 'The industry has the unenviable task of balancing premium rates with sustainable underwriting practices and risk mitigation measures to ensure a sustainable insurance sector... thus also contributing to national economic growth,' Matebesi added. Claims trends and consumer pressures The Barometer reveals that Santam's MTN portfolio saw a spike in claims for stolen mobile devices, tablets, and laptops, largely due to petty theft and muggings in shopping malls. Motor insurance remains the main contributor to claims in both personal and commercial lines. While strategic underwriting has brought some relief, collision-related claims have surged as road traffic returns to pre-pandemic levels. 'This is largely due to road usage in South Africa returning to pre-COVID levels, driven by many companies reinstating five-day office attendance policies,' explained Matebesi. Infrastructure degradation is also playing a role, particularly road conditions. 'Potholes causing loss or damage to vehicles' have hit all sectors, including agriculture and heavy haulage, particularly hard. An emerging issue flagged in the report is the phasing out of 2G and 3G networks, which support many alarm systems and vehicle tracking devices. 'Close collaboration between insurers, insureds, and telecoms services providers is necessary... There is anecdotal evidence of the potential impact on property owners with those who have already had their alarms 'switched off' falling victim to crime,' Matebesi warned. The cost-of-living crunch Rising living costs are reshaping consumer behaviour: 40% have cut back on non-essential spending 27% have reduced essential monthly expenses 21% have tapped into savings Many South Africans are also changing their lifestyles: 38% now spend less on entertainment and eating out 23% have stopped going on holiday 19% drive less 14% opt for public transport or taxis more often 13% cancelled DSTV Some households have turned to borrowing: 7% took personal loans 9% borrowed from friends or family 15% invested in alternative energy to reduce electricity costs Business realities and risk gaps For corporate and commercial entities, theft remains the top worry, though concern has declined over five years. 'Persistent economic malaise remains a top concern for businesses at 19%. Interestingly, growing concerns over operational costs have emerged... likely related to economic pressures,' Matebesi said. A surprising disconnect was noted regarding business interruption (BI) cover. Despite ranking high on global risk indices, only 7% of local commercial respondents prioritised BI. 'The lack of emphasis placed on loss of profits is concerning; we believe business interruption is a massively underestimated risk,' Matebesi warned. Currency fluctuations made a noticeable jump, up 10%, amid global policy shifts and local political uncertainty, particularly around the Government of National Unity (GNU) budget delays. One bright spot came from the power front: South Africa marked 300 days without loadshedding in 2024. This led to a significant drop in power surge claims, thanks to improved grid stability and underwriting action. Climate risk remains entrenched, especially in agriculture. 'The agriculture sector is disproportionately concerned about climate risk,' Matebesi noted. Commercial claims linked to storms and flooding were up 5%, worsened by poor infrastructure and town planning. Top ten business risks in 2025: Theft (21%) Machinery/system breakdown (20%) Economic downturn (19%) Loadshedding/power surge (18%) Loss of profits (18%) Currency fluctuations (18%) Fires (16%) Climate change (16%) Staffing issues (14%) Crime (14%) Brokers evolve their role Brokers remain essential in risk mitigation. Most conduct home or site visits (72%) and communicate risk management tools via email or SMS (63%). Yet, one in three still finds coverage communication confusing. More brokers now prioritise affordability, 34% cite price as the top factor in choosing an insurer, followed closely by service excellence and claims reliability. Encouragingly, eight in ten intermediaries remain confident about business prospects in the year ahead, the data shows. * Maleke is the editor of Personal Finance. PERSONAL FINANCE
IOL News
a day ago
- Business
- IOL News
Budget cuts expose SA's public service crisis
While the government touts nominal increases in budget allocations, the harsh truth reveals a significant erosion of real-term funding. Image: Rawpixel/Freepik AS South Africa grapples with deepening inequalities and a faltering public service, the recently adopted Budget Vote Reports for 2025 expose a troubling reality: while the government touts nominal increases in budget allocations, the harsh truth reveals a significant erosion of real-term funding. The Department of Public Service and Administration (DPSA), Public Service Commission (PSC), and National School of Governance (NSG) all face budget cuts that threaten to undermine service delivery and exacerbate existing disparities. In a virtual meeting this week, the Portfolio Committee on Public Service and Administration, chaired by the DA's Jan Naudé De Villiers, confronted these critical issues head-on. The reports presented revealed a complex interplay between budget allocations and the pressing needs of public service delivery. Julius Ngoepe, the committee content advisor, noted that the overall budget allocation for the DPSA for 2025/26 stood at R564 million, reflecting a nominal increase of 4.67% from R539m in 2024/25. He pointed out: 'This amount represents a decrease of 0.03% in real terms,' highlighting the painful reality of inflation outpacing budgetary growth. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad Loading The DPSA's budget over the Medium-Term Expenditure Framework (MTEF) period is projected at R1.8 billion, with a staggering 54.4%, or R966m, earmarked for the compensation of employees (COE). This allocation raised critical questions about the sustainability of service delivery, particularly as spending on transfers and subsidies accounts for only 10.2%, or R178m, with R158m designated for the Centre for Public Service Innovation (CPSI). During the meeting, members voiced their concerns regarding the budget's failure to address systemic inequalities within the public service. The EFF's Sixolisa Gcilishe, lamented the budget's failure to address systemic inequalities: 'The budget failed to address systematic inequalities in the public service as reflected in the wage disparities between top and lower management.' She further highlighted the inadequacy of the R300m allocated for administration in Programme 1, saying: 'Frontline workers remain underpaid,' and questioned the effectiveness of the budget cuts on service delivery. The chairperson acknowledged the gravity of these concerns, saying: 'This was an internal meeting to consider and adopt the DPSA, PSC, and NSG Budget Vote Reports.' He emphasised the importance of documenting these discussions, urging members to reflect their views in the report. Gcilishe insisted that 'the comments should be reflected in the report because the government would not be aware if they were only made in speeches and not documented'. The meeting also saw a significant push for changes in the funding model for the Thusong service centres. The DA's Leah Potgieter proposed: 'The funding should be split among the various departments that were making use of the centres,' leading to an amendment in the recommendation. National and provincial departments providing services in the Thusong service centres should co-fund the centres to ensure their long-term sustainability.' As the discussion progressed, the committee grappled with the implications of budget cuts on service delivery. The committee secretary, Masixole Zibeko, advised that some comments should be added to the report while others should be reserved for the Budget Debate. He cautioned members against introducing new recommendations at this stage, saying: 'Members had opportunities on two previous occasions to do so.' The sentiment of dissatisfaction with budget cuts was echoed by Ngoepe, who said: 'Every sector had expressed dissatisfaction with budget cuts.' This sentiment was further reinforced by the MK Party's Japhta Malinga, who warned that adding new issues at this stage was 'not doing justice to the process'. The chairperson agreed, saying: 'The DPSA had a role to play, but solving youth unemployment was not the sole responsibility of the Department.' The NSG's budget allocation for 2025/26 was also scrutinised, with Ngoepe presenting a budget of R228m, a nominal increase of 4.5% from R218m in 2024/25. Potgieter raised concerns about the allocation of more than 51% of the budget for administration rather than training programmes, saying the bloated administration and minimal training should be highlighted in the report. The chairperson acknowledged this as a valid concern, noting: 'This is a general concern in almost every department across government.' In the PSC report, the overall budget allocation for 2025/26 is R302m, which represents an increase of 4.68% in nominal terms but a decrease of 0.02% in real terms. Langa emphasised the need for security measures for PSC commissioners, saying the critical role of the PSC commissioners and the need for protection against threats at all times should be reflected in the report.
India.com
a day ago
- Health
- India.com
7 Easy Yoga Asanas That Can Help In Hair Growth
photoDetails english 2923045 Updated:Jun 27, 2025, 01:48 PM IST 1 / 8 7 Yoga Asanas That Help In Hair Growth: If you want supple and healthy hair, check out the list of yoga asanas which might be beneficial for you. Note: The yoga asanas should be performed under the guidance of a certified trainer or expert. (Pic Courtesy: Freepik) Vajrasana 2 / 8 This yoga asana reduces stress levels and prevents hair fall caused by stress-induced conditions. Uttanasana 3 / 8 Uttanasana or the camel pose relaxes muscles and helps in increasing oxygen levels and blood flow to the head. This, in turn, makes hair follicles stronger. Sasangasana 4 / 8 Sasangasana helps in relieving tension in the neck and upper back. These can contribute to hair loss when under stress. (Representational image used) Sarvangasana 5 / 8 The inverted pose affects the blood flow to the scalp, revitalizing the hair follicles and promoting healthy hair growth. Kapalabhati Pranayama 6 / 8 Kapalabhati Pranayama cleanses the whole head and boosts the oxygen supply, lowering free fosters hair growth. Balasana 7 / 8 Balasana aids in fighting two major causes of hair fall - stress and digestion. Adho Mukha Svanasana 8 / 8 While performing this asana, the blood flow to the scalp is stimulated, promoting hair growth.
Hindustan Times
2 days ago
- Business
- Hindustan Times
Career Horoscope Today for June 27, 2025: Change your plans accordingly to the vision and lifestyle you cherish
Aries: Today is a day for asking all the right questions before committing to any sort of financial arrangement. Don´t rush into commitments without knowing all the details. Loan, investment, or job offer; read through the lines. Your bold nature is the very strength that should keep you safe over money. In a working atmosphere, if clarity is missing, speak your mind. Trust your judgment, but be open to others' views if you think you might need a little guidance. Career and Money Horoscope for June 27, 2025(Freepik) Taurus: Your inner voice is really strong and loud today; listen to it well. You may feel anything about a person or deal, and that feeling is probably right there with you. Use that intuition to cut across meetings and matters relating to money. If some things feel off, just hang in there and do nothing. Your judgment shall guide you to better choices now. Workwise, being a quiet observer might be in your favour. Financially, slow, steady progress is the way to go, not hurried steps. Gemini: It's a perfect day for waiting a little while to update your goals. What you wanted long ago may not gel well with who you are today. Take the time to ponder your professional path and financial goals. Change your plans accordingly to the vision and lifestyle you cherish today. Even a little turn to something fresh would spark more fulfilment and results. There should be no running on the old track. The hour favours innovative thinking and transparent planning. Cancer: Working smarter will bring better results today. So, seek ways to simplify tasks and focus on what matters most. Don't cram your day with unnecessary work. You can achieve more by doing less if you take the time to prioritise the second skill in your planning. With money, for instance, cutting down on extravagance or rechecking an ongoing deal might raise your income by a small but wise step. Leo: Your budget requires keen scrutiny. Emotion might have dictated the spending. Ask yourself honestly—Is the purchase essential for me? Or am I just buying something for comfort? Making fewer emotional purchases makes an individual feel more in control. Clarity with finance is calming. Work on your tasks without distractions. Today, a smart financial plan can help avoid tomorrow's stressful situations. The greatest power is in your discipline. Virgo: Today, someone important may mention your name in a larger discussion. Get ready, your efforts are being noticed even if you can't see it yet. Maintain a high standard of work quality and remain positive in your attitude. Soon, you might be thrown a surprise opportunity. Financially, steer clear of risky ventures and stick to proven strategies. Your steady nature is what shines through. Maintain humility, but don't understate your strength. Libra: Stay calm today, especially if work feels tense. Peace will avert more than clashes of words. There could be a situation that pushes others off balance—your calm thinking will be of help. Speak softly and listen well. Financial matters stay on track if you avoid impulsive acts. Your inner equilibrium enables you to work smarter. Don't bring home stress from others today. Peace is power. Walk through the matter with your power-of-grace, and they shall respect your way of working. Scorpio: An excellent day to reach out and build social relations. A brief conversation or text can spark the energy for a career. A new acquaintance may be offering you a door which you had not seen. Do not wait for opportunities - create them through wise networking. Share your ideas with confidence. Your charm and intensity never fail to make an impression. Seek financial advice from those with experience. You don't have to do everything alone. Sagittarius: This day, making an exception for a rare day off in spending will offer huge peace much farther down the road. Allowing an impulse to buy around habit or mood may pull you in, so just say no for now. Gaining this pause is a clarity enhancer to your financial plan. Use your free time to review your savings, goals, and current needs. In matters concerning work, quarterly instead of rush efforts. Think, plan, and work toward steady growth. Capricorn: If something about a deal or an offer doesn't quite sit well with you this day, do not ignore it: your gut is especially sharp right now about that matter, and it's trying to lead you. Before putting ink to paper, signing it, or giving a definite answer, take a moment to review the details one more time. Trust your instincts; they are trying to warn you. At work, remain cautious and listen carefully during discussions. Aquarius: Your forces are strong today, but without structure, they scatter. Organise your thoughts first thing in the morning. Intentional and purposeful working yields greater results. Draw up a very simple to-do list alongside some realistic blocks of time to work through it; these measures will keep your head clear and focus your thoughts. Maybe no splurge spending today! Your ideas are grand, but today, they ask for structure and application. Pisces: Today is an excellent day to bring clarity to your financial world. It starts with keeping track of little expenses—keep your receipts and start jotting things down. You might not have been paying attention to how your money is spent until you lay it all out on the table. Tracking empowers your budget. Keep things organised at work and avoid leaving anything hanging. Such attention to detail will become the foundation of your future growth. ---------------------- Neeraj Dhankher (Vedic Astrologer, Founder - Astro Zindagi) Email: info@ neeraj@ Url: Contact: Noida: +919910094779
Hindustan Times
2 days ago
- Health
- Hindustan Times
Urologist explains role of gut microbiota in kidney health and diseases: ‘To avoid kidney issues, focus on gut health'
Your gut is one of the most important parts of your body. Several studies now show that a healthy gut means overall wellbeing, and have linked it to a healthy immune system, good mental health, and lower risk of autoimmune diseases, gastrointestinal disorders, cardiovascular disease, and even cancer. Did you know that a healthy gut is also associated with your kidney health? To avoid kidney-related issues and maintain good overall health, focus on gut health. (Freepik) Also Read | Hepatologist calls Satvic Movement 'utter nonsense'; explains why people should stop falling for influencer sweet talks In an interview with HT Lifestyle, Dr AK Jayaraj, MBBS, MS -Urology, Apollo Spectra Hospital, Chennai, explained the role of gut microbiota in kidney health and disease. The role of gut microbiota Known for its role in digestion and immune function, microbiota involves gazillions of microorganisms existing in the human gut. According to the urologist, if there is an imbalance of the microbiome, known as dysbiosis, it leads to health issues. 'During this stage, it could trigger kidney disease and hamper everyday life. Dysbiosis induces uremic toxins like indole and p-cresol, causing the buildup of harmful substances,' he explained. In individuals facing kidney issues, the toxins accumulate or, worse, mingle with the blood flow. (Shutterstock) He also stated that: 'Usually, healthy gut toxins get filtered out by the kidneys, but with individuals facing kidney issues, for example, chronic kidney disease or intestinal permeability (leaky gut), the toxins accumulate or, worse, mingle with the blood flow.' In such situations, the patient often faces several issues, such as: Cardiovascular issues Inflammation in the body Toxin buildup, leading to kidney impairment or a reduction in kidney function A healthy gut means a healthy kidney Per Dr Jayaraj, to improve health or address gut problems, medical examinations or routine checkups are necessary. He explained: 'For instance, an individual needs to get checked with urine and blood tests. In some extreme cases, stool tests are advised to evaluate the status of gut health and prescribe medications to reduce toxins.' In conclusion, he added, 'To avoid kidney-related issues and maintain good overall health, focusing on gut health plays a vital role. Indulging in regular medical examinations keeps individuals informed and diagnoses any early diseases.' Note to readers: This article is for informational purposes only and not a substitute for professional medical advice. Always seek the advice of your doctor with any questions about a medical condition.
