Insurance

Ruan Jooste’s Rants and Cents: My pet peeves and the matter of price

By Ruan Jooste | Published Oct 9, 2023

Woolworths recently announced the launch of a comprehensive pet insurance product, WPetInsure, which became available in mid-August 2023. It included a range of customisable plans designed to “cater to diverse lifestyles and budgets”. The company said in a press release, their cover encompasses medical expenses, routine care, hospital stays, and even transportation. Checkers did the same thing one or two years ago by offering a number of insurance options that are underwritten by OUTsurance.

Run on Numbers: RAF rules on the mend

By Corrie Kruger | Published Oct 6, 2023

The Road Accident Fund (RAF) revenue of R90 billion per annum is not enough to get the RAF back to a solvent status. Drastic steps are required, and the latest amendment bill will go a long way to rectify the shortcomings. The main income received by the RAF is a levy that is based on fuel sales known as the Fuel Levy. The RAF Fuel Levy income is a charge levied on fuel throughout the country. The quantum of the RAF Fuel Levy per litre is determined by the National Treasury which levy accounts for about 6% of total tax revenue and brings in more money than customs duties or alcohol and tobacco excise duties combined.