Browsing by Subject "insurance"

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    Savings, insurance and debt over the post-apartheid period: a review of recent research
    (2004) Cally, Ardington; David, Lam; Murray, Leibbrandt; James, Levinsohn
    Sustainable poverty reduction requires that poor households effectively manage risk. The absence of basic financial services is a major obstacle to poverty reduction in South Africa. This paper reviews available South African literature on utilisation of formal and informal risk management instruments. The centrality of income in accessing the complementary bundle of formal financial services excludes households in the lower deciles from formal financial services. Rural households and households without formally employed household members are also denied access. Strong complementarities with informal channels of finance mean that these same households have limited access to even informal financial services. Promoting the use of savings accounts in pension and social grant payouts and the growth of village banks have been suggested as means to increase formal access for the poor.
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    The payment and insurance of ransom: an analysis of legality, morality and possible solutions in the case of ship hijackings by pirates
    (2011) Hermanussen, Christian; Hare, John
    Piracy has been perceived as a menace of times long gone and has until recently been associated with romantic tales of one-legged and free-spirited men, roving the Caribbean Sea for bounty and gold. In recent years, however, a new type of pirate has emerged in one of the most lawless spots in the world. The pirates of Somalia increasingly threaten one of the busiest commercial shipping routes, thus forcing shipowners to pay higher insurance premiums or to reroute around the Cape. Either way, the current situation tremendously increases the costs of shipping in the Indian Ocean and threatens life of seamen. The purpose of Somali pirates is to obtain high ransom sums. Their demands are frequently met by intimidated shipowners who then turn to their insurers for cover. This practise has led to enormous profits for both the insurers as well as the pirates. Until today, no solution has been found to break the vicious circle in which shipowners find themselves.