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In today’s economic climate, directors who don’t admit to yearning for the “good old days” when legislative requirements where less stringent and the economy was booming, are either in denial or lying. The imminent changes to the new Companies Act are a fine example of a new complication that is adding to the stresses faced by this group. The act which has increased the board of directors’ exposure could now see members being held personally liable when the new act is passed.

Readers that are familiar with Camargue’s product offering will immediately recognise the M³ principle, after all its what sets the company apart from all other insurers and underwriters in South Africa.

Many insurers talk about helping clients manage risk but these initiatives generally fall flat due to the following:

Cost
The cost of effective risk management is often higher than the underlying premium.

Introduction
Much has been written about the act of "Whistle blowing" and, indeed, the morality of this practice. In 1971, the then Chairman of General Motors, James Roche warned against whistle blowing in the following quote:

As a broker in the short term insurance industry, navigating through the myriad of red tape and legislation that exist in today’s market can be daunting. Add to this the enormous responsibility of securing the best possible cover for your clients and one begins to ask, “Is it worth the risk?” - the irony of the question being obvious.