FOLLOW UP - Climate change risk is raising South Africans’ insurance premiums
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GUEST – Lizo Mnguni, spokesperson for Old Mutual Insure.
After a financially challenging month, commonly known as "JanuWorry," the decision by the South African Reserve Bank recently to keep the repo rate steady at 8.25%, comes as a relief to many consumers. In addition, although there has been some initial relief with fuel price cuts in January, concerns persist about possible fuel price increases in February, as indicated by data from the Central Energy Fund (CEF).
Against this background, with Car Insurance Day taking place on the 1st of February 2024, now is an opportune time for South African vehicle owners to understanding key trends shaping the car industry this year.
After a financially challenging month, commonly known as "JanuWorry," the decision by the South African Reserve Bank recently to keep the repo rate steady at 8.25%, comes as a relief to many consumers. In addition, although there has been some initial relief with fuel price cuts in January, concerns persist about possible fuel price increases in February, as indicated by data from the Central Energy Fund (CEF).
Against this background, with Car Insurance Day taking place on the 1st of February 2024, now is an opportune time for South African vehicle owners to understanding key trends shaping the car industry this year.
