March 2011
Regulatory Updates
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Regulatory Exam Deadlines
IISA to host Support Workshops for Regulatory Examinations
Regulatory Exams: Do I really have to write another exam?
Events
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PIP Seminar 11 March 2011: “The Impact of Extreme Weather Disasters on the Insurance Industry”
African Insurance Organisation Conference
IISA Past Presidents Luncheon 2010
The Insurance Conference 2011
Events Calendar
Tracker Men in the Making
Learners
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IISA & Milpark Business School enters into agreement
Milpark Business School introduces new Higher Certificate in Short Term Insurance
Unisa Insurance Programmes gaining popularity
Important Unisa CBM dates
Unisa CBM Insurance Programmes – Study Material Available
Members
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IISA Membership Structure
myLifestyle summary & reminder to activate membership
Are you a paid up member?
Local Institutes
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IISA, IIG and IING enter into Collaboration
General
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Call for nominations to Leselo board
Meet the Team: Marian Jackson
Sponsor a newsletter
IISA Contact Details
The Insurance Institute of South Africa
Tel: 0861 00 4472 | Web Site: www.iisa.co.za | E-mail: info@iisa.co.za
March 2011
Regulatory Updates
Regulatory Exam Deadlines
Key individuals have to write the first level regulatory examination for key individuals (RE1). Representatives have to
write the first level representative examination (RE5). Sole proprietors or those who fulfill the roles of both key
individuals and representatives will be required to write both examinations.
It is important to enroll for these examinations as early as possible to avoid bottle necks closer to the deadline of 31
December 2011. Should you have to repeat the examination you will be given an additional 2 months (up to 28
February 2012) within which you can complete the examination successfully.
There are four recognised examination bodies. Candidates must select the examination body through which they want
to enroll for the examinations.
FPI
:
http://re.fpi.co.za
Leselo
:
http://www.leseloexams.co.za
Moonstone
:
http://www.moonstoneinfo.com
SAIFM
:
http://www.regulatoryexams.co.za
The pass mark for the regulatory examinations level 1 (RE 1 and RE5) will be 65%. The fee for the regulatory
examination is R900,00 VAT Inclusive per examination.
IISA to host Support Workshops for Regulatory Examinations
The IISA is committed to assisting individuals with their studies and preparations for the
examinations. The Institute will be facilitating FAIS Workshops for the Level 1 Regulatory
Examinations, for Category 1 Key Individuals and Representatives.
Each workshop will be a two day structured, comprehensive, easy-to-understand facilitated
session. The content required for examination preparation will be discussed in detail.
For more information about programme content, registration procedures, venues and dates, visit the IISA web site
(www.iisa.co.za) and browse to the Progress section.
Regulatory Exams: Do I really have to write another exam?
There appears to be widespread confusion about what the new FSB examinations are all about
If you think that…
“I have worked in the industry for the last 10 / 20 / 30 or even 40 years and have a vast level of experience and
knowledge and therefore don’t need to now go and study for and write these exams”…
… then you are mistaken!
The RE 1 exams are a test of your knowledge of the FAIS Act, Board Notices and the FAIS General Code of Conduct.
They have nothing to do with your knowledge of insurance per se. They are about testing your knowledge of the
procedures relating to the conduct of business in terms of the FAIS Act.
The IISA has compiled a document to explain the Regulatory Examinations for Representatives and Key Individuals,
what will be tested and why the examinations are required. Visit the IISA web site click on the Read section to
download the guide.
Page 2 of 12
March 2011
Events
PIP Breakfast Seminar: Friday 11 March 2011
The Impact of Extreme Weather on the Insurance Industry
The next IISA Promote Insurance Professionally seminar will have a look at the impact of extreme weather disasters on
our insurance industry.
Unusual rain and snowfall have wreaked havoc internationally and locally during the past few months. These disasters
will undoubtedly influence premiums and the type of cover that can be offered to consumers in the future.
Join us for breakfast at The Venue @ Melrose Arch, where presenters will
discuss the disasters’ impact on Underwriters, Reinsurers and Claims
Departments.
Date
Time
Venue
Fees
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:
:
:
Friday, 11 March 2011
07h00 for 07h30 to 11h00
The Venue @ Melrose Arch
Professional Members – R425
Corporate Members – R450
Non Members – R475
To register, visit the IISA web site (www.iisa.co.za) and go the Participate section.
seminars@iisa.co.za or telephone us on 0861 00 4472.
Alternatively, e-mail
AIO Conference 2011
The African Insurance Organisation will hold its 38th Conference and General Assembly at Elephant Hills,
Victoria Falls, Zimbabwe, from 21 – 26 May 2011.
For more information about this event, go to www.african-insurance.org or e-mail Martha Muronda
(marthamu@zimre.co.zw).
IISA Past Presidents Luncheon 2010
Past Presidents of the IISA and the Institute management attended the IISA Past Presidents Lunch 2010. David
Harpur, IISA Chief Executive and two times Past President of the Institute hosted the lunch, which was held at the
Bryanston Country Club on 19 November.
Back (L to R): Dr Morris Bernstein (Past President
1999/2000), Mike Pierce (IISA Management), Brian Benfield
(Past President 1989/1990), Anton Ossip (Past President
2008/2009), Charmaine Koch (IISA Management), David
Harpur (Chief Executive and Past President 2000/2001;
2007/2008), Theo Vels (Past Chief Executive 1992-2002 &
2006-2008).
Front (L to R): Dorian Wharton-Hood (Past President
1994/19955), Ken Palmer (Past President 1969/1970) Bill
Rutherford (Past President 1985/1986), Fred Haslett (Past
President 1988/1989), Simon Chikumbu (Past President
2006/2007).
Page 3 of 12
March 2011
Page 4 of 12
March 2011
2011 Events Calendar
Organiser
Date
Event
UNISA CBM
East Rand
Gauteng
East Rand
Gauteng
East Rand
IISA
Gauteng
East Rand
Cape of Good Hope
East Rand
Gauteng
Gauteng
IISA
UNISA CBM
Gauteng
Gauteng
FPI
Gauteng
UNISA CBM
UNISA CBM
IISA
East Rand
Gauteng
Gauteng
Gauteng
East Rand
IISA
East Rand
Gauteng
Gauteng
Namibia
East Rand
Gauteng
Gauteng
UNISA CBM
IISA
Gauteng
East Rand
21 January 2011
16 February 2011
23 February 2011
02 March 2011
03 March 2011
08 March 2011
11 March 2011
25 March 2011
31 March 2011
24 March 2011
05 April 2011
14 April 2011
11 May 2011
13 May 2011
6-17 May 2011
19 May 2011
27 May 2011
1-2 June 2011
10 June 2011
20 June 2011
15 July 2011
24-27 July
26 July 2011
August 2011
18 August 2011
23 August 2011
25 August 2011
02 September 2011
07 September 2011
08 September 2011
16 September 2011
26-28 September 2011
11 October 2011
14 October 2011
21-23 October 2011
24 Oct - 18 Nov
28 October 2011
03 November 2011
01 December 2011
Closing date: 1st Semester Registrations
RE1 Training
Power breakfast & AGM
RE1 Training
Inaugural Dinner
Breakfast Meeting & AGM
Breakfast seminar
M&F Golf Day
Happy Hour
Annual General Meeting
RE1 Training
Glasfit Ladies Golf
Charity Auction
Breakfast seminar
1st Semester Exam Cycle
Power breakfast
The Lion Golf day
Annual Convention
Mid Winter Bash
2nd Semester Registration Opens
2nd Semester Registration Closes
The Insurance Conference 2011 (FIA/IISA/SAIA)
Breakfast Meeting
Centenary Golf
Glasfit Ladies Golf
Centenary Dinner
Golf Day
Breakfast seminar
Sports Day & Happy Hour
Heritage breakfast
Constantia Golf Day
Annual Conference
Breakfast Meeting
Sasria Golf Day
Birding Weekend
2nd Semester Exam Cycle
Breakfast seminar
Annual Dinner
Xmas Lunch
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March 2011
Page 6 of 12
March 2011
Learners
IISA & Milpark Business School enters into agreement
The IISA has supplied certain technical insurance material, which has been further enhanced by Milpark Business
School for students of insurance.
Our agreement with Milpark is that students who
successfully complete the new Higher Certificate in Short
Term Insurance through MBS will be able to apply to the
IISA for the designation of Licentiate.
The inaugural agreement was signed in Johannesburg on
Wednesday, 2 February 2011.
Back (L to R): Julian van der Westhuizen, CEO: MBS; David Harpur,
CEO: IISA; Mike Pierce, Manager: IISA
Front (L to R): Ismail Sadeck, Director: MBS; Charmaine Koch,
Manager: IISA.
Milpark Business School introduces new Higher Certificate in Short Term Insurance
Milpark Business School has introduced a new programme to the financial services sector. The primary purpose of the
Higher Certificate in Short-term Insurance is to equip students with the knowledge and skills required by short-term
insurance specialists operating within the South African short-term insurance environment.
Students will be competent and able to provide short-term insurance advice across the fields of personal and
commercial insurance.
The qualification consists of six modules: four compulsory and two elective modules.
Core Modules (compulsory)
o Legal Framework
o Risk Management
o Personal Lines Insurance
o Commercial Lines Insurance
Elective Modules (Choose two modules from this list)
o Reinsurance
o Marine and Aviation
o Construction and Engineering
o Business Management
For more information about this programme, visit the IISA web site (www.iisa.co.za) and browse to the Learn section.
IISA Membership:
Milpark Business School’s Higher Certificate in Short Term Insurance meets the qualifications requirement for IISA
Licentiate membership.
Corporates:
Employees can be registered in bulk if information is supplied on the correct MBS spreadsheet.
1st Semester registration open!
Close of registration: 9 Feb 2011
Assignments due: 23 March 2011
Examination dates: 20-25 May 2011
Cape Town 021 673 9100
Johannesburg 011 718 4000
Durban 031 266 0444
Page 7 of 12
March 2011
Unisa CBM Insurance Programmes gaining popularity
The pass rate for the October/November 2010 examination cycle had declined slightly to 71.5%, but the average
examination mark had improved. The volume of students had increased by almost 12%.
Registration for the 2nd Semester Unisa CBM’s IISA Programmes in Insurance will open on 20 June 2011 and students
are encouraged to register early. Study material may be ordered from the IISA.
Unisa CBM offers the following insurance programmes:
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IISA Introductory Short Courses in Elements of Insurance
IISA Programme in Advanced Insurance Practice
IISA Programme in Life Insurance
IISA Programme in Retirement Fund Management
IISA Programme in Short Term Insurance
IISA Programmes in Advanced Insurance Practice at NQF6
IISA Programmes in Insurance at NQF5
Programme in Risk Management 75949
More information about the course content, registration procedures, fees and study material can be found at the
Unisa CBM Insurance Programmes home page: www.unisa.ac.za/iisa.
Important Unisa CBM dates
6-17 May 2011
20 June 2011
15 July 2011
24 Oct – 18 Nov 2011
st
1 Semester Examination Cycle
2nd Semester Registration Opens
2nd Semester Registration Closes
2nd Semester Examination Cycle
Remember:
Registering for a subject at Unisa CBM does
not include your study material.
To order your material, visit www.iisa.co.za
and go to the Learn or Shop sections.
Unisa Insurance Programmes - Study Material Available
Study material for Unisa Centre for Business Management’s IISA Programmes in Insurance is available from the IISA.
The material is available in hard copy (printed spiral bound book) and soft copy (PDF Ready Only document on CD)
formats.
To order, visit www.iisa.co.za, where you can download an order form, or order and pay on-line. Please note that
orders will only be processed if accompanied by the full payment.
Books may be collected from the IISA office in Hyde Park or, at an additional charge, be posted or couriered.
Tel: 012 352 4228/4377
Fax2Email: 086 693 7433 | Intl Fax: +27 12 429 3881
Email: iisa@unisa.ac.za or cbm19@unisa.ac.za
Page 8 of 12
March 2011
Members
IISA Membership Structure
There are various levels of individual membership, which are awarded according to academic achievement in the
insurance field, plus some other qualifying criteria relating to work experience in the insurance market. Professional
members pay an initial election fee and thereafter, a flat annual fee.
A summary of the various member levels follow below, but more detailed information can be requested from IISA. All
members have to abide by the IISA Code of Conduct for Members.
Member Levels 1-3 New entry level membership options!
This is the entry level membership for those who have just started with their insurance studies.
There are three options to become a member of the IISA:
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Member Level 1: Certificate of Proficiency (CoP) or Elements of Short Term/Life/Retirement Funds (Unisa
CBM)
Member Level 2: Intermediate Certificate in Business Studies
Member Level 3: FET Certificate in Short/Long Term Insurance or Introductory Programme in Insurance
(Unisa CBM)
Licentiates
Licentiates of the IISA are those members who attained the IISA’s Higher Certificate in Insurance, Unisa’s IISA
Programme in Short Term Insurance / Life Insurance / Retirement Fund Management, Milpark Business School's
Higher Certificate in Short Term Insurance, or similar qualification.
Associates
Associates of the IISA are those members who attained the IISA Diploma in Insurance, or Unisa’s IISA Programme in
Advanced Insurance Practice. Associates may use the abbreviation “Aiisa” after their names, e.g. Jane Smith AIISA.
Fellows
Fellows of the IISA are those members who attained an IISA Advanced Diploma in Insurance Management, or Unisa’s
Advanced Programme in Risk Management plus IISA Programme in Advanced Insurance Practice, or equivalent
qualifications. Fellows may use the abbreviation “FIISA” after their names, e.g. John Smith FIISA.
To apply for membership, visit the IISA web site (www.iisa.co.za) and browse to the Belong section.
Contact the IISA Membership Officer:
Mrs Elma Mackril
Tel: 0861 00 4472 | Fax: 0861 01 4472
E-mail: elma@iisa.co.za
Page 9 of 12
March 2011
myLifestyle: Activate your membership and qualify for huge savings!
If you are an IISA professional member, you should have received an e-mail requesting you to activate your
myLifestyle membership.
IISA Professional members of the Institute qualify for discounts from a wide variety of suppliers, including Chubb,
eWine, Executive Carports, Avis Car Hire, AA Test & Drive, Thompsons Holidays, Virgin Active, Netflorist, The Drain
Surgeon, Electro Clinic, DataDot, HP Shop, ADT… and lots more!
Members can access benefits on-line at https://www.clubbenefits.co.za/iisa, or phone 0861 22 IISA (0861 22 4472) for
assistance from a call centre operator.
This fantastic programme has been made available through the generous support by
Global Choices.
If you are a paid up member and have not received an activation e-mail, please
contact Heidi Kruger (heidi@iisa.co.za).
Are you a paid up member?
It has in recent times, come to the notice of the IISA that some individuals are continuing to use and display their
designations as FIISA or AIISA even when they are not paid up members.
In order to retain these designations, you have to be a paid up member of the IISA. This is exactly the same
requirement as is maintained by all other professional bodies as the designations are awarded only to individuals who
are member of the Insurance Institute of South Africa.
If you have not renewed your professional membership for the year 1 July 2010 to 30 June 2011, please urgently
contact elma@iisa.co.za to attend to the renewal.
It is most important to renew your membership of the IISA annually. If the fees are not paid you may not use the
designation of FIISA or AIISA on a business card, letterhead or any other public document. You may also not reflect
yourself as holding this designation for FAIS purposes or any other official regulatory record.
Use of either of the aforementioned professional designations whilst not in good standing financially with the
professional body, is viewed seriously by the industry and the professional body, as a breach of accepted professional
practice.
To avoid any possible breach of the conditions pertaining to the use of this important market
recognized designations, please attend to the payment of your outstanding fees at your earliest
convenience.
Unfortunately failure to do so means we will have to remove your name from our
“NEWS@IISA” newsletter and other publications. It also means you will not benefit from our
members loyalty scheme and will lose discounts available at our seminars and annual
conference.
Page 10 of 12
March 2011
Local & Affiliated Institutes
IISA, IIG and IING enters into Collaboration
On 14 January 2011, Mike Pierce, as representative of the IISA and Insurance Institute of Gauteng (IIG), met with
prospective members of the proposed Board of the Insurance Institute of Northern Gauteng (IING), convened to
resurrect the North Gauteng Insurance Institute, a Board was elected, consisting of nine members, with James Young
as the Board’s official representative. This body is determined to strive to create a formal structure with an attractive
value proposition to offer prospective new members.
It was resolved that during 2011 the members of the Board, in collaboration with the IIG and the IISA, would make
every effort to re-establish a foundation upon which a formally structured Committee comprising a President, Deputy
President and committee members with designated portfolios, could be put in place in 2012.
Objectives to be pursued during 2011 are, inter alia, the following:
o
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To create close ties with the IISA and the IIG.
To pursue an educational programme for prospective members of the IIGN in collaboration with and
assistance from the IIG and the IISA.
To endeavour to obtain access to the publications of both the IISA and the IIG, copies of which to be
distributed electronically to identified prospective IING members and to obtain a small input into such
publications which would build the IIGN’s self identity, as well as to keep it’s prospective members in touch
with the extensive activities of the Institutes, such as the IIG and the IISA.
To acquire the privilege of observer status for its representative to sit in on IIG Council’s meetings in order to
be at the core of IIG activities, to observe methods of operation and feed back to the IING Board, thereby to
serve as an active link between the two organisations going forward.
To promote reciprocal support for activities offered and services rendered by the respective Institutes.
On the photograph (from left to right): JP Young, Mike Pierce, Iain Banks, Trudy Brummer,
Marina Croukamp, Natasha du Plessis, James Young, Hennie vd Berg.
Page 11 of 12
March 2011
General
Call For Nominations To Leselo Board
Leselo, the examination body of the IOB, has a vacancy on its board and would like to fill it with a
representative from the insurance industry.
Selection Criteria:
In selecting nominees, Leselo will take into account its needs for a Board to be filled by persons who:
Have institutional and individual credibility at local, regional or national levels;
Have experience at managerial levels and/or as a member of boards of directors.
Leselo will also consider its needs for a Board that collectively is:
Broadly representative of the financial services industry;
Diverse in terms of gender, age, race, ethnicity and cultural background;
Diverse in terms of qualifications, expertise and experience.
Written nominations must contain:
The full name, address and contact numbers of the person or organisation making the nomination
A signed acceptance of the nomination by the nominee
A brief explanation why you believe you or your nominee is qualified to serve as a director on the Leselo
Board
A Curriculum Vitae of the nominee, providing the following information:
o Full name, ID number and gender
o Latest address, contact number and e-mail address
o Previous experience, quoting dates and organisations or institutions concerned
o Academic qualifications
Appointment process: Leselo intends to short-list candidates, conduct interviews where required, and make
recommendations to the IOB Board.
Nominations can be e-mailed to Daphne Hamilton (daphne@iob.co.za) by no later than 3 March 2011 before 12: 00
noon.
See the web site at www.leselo.co.za to read more about Leselo.
Meet the Team: Marian Jackson, Receptionist
Marian hails from the beautiful town of Barberton, where the country the roads wind
over valleys and hills. During her schooling life she was given a special award for her
sporting achievements. In 1990 she married Victor and settled in the City of Gold. This
union brought a son, Justin, (presently studying at UJ) and a daughter, Janine, who is
currently in grade 10.
Marian is an active parishioner of St Thomas Catholic church, where she spearheads the
décor team. She is also a member of the marriage preparation team.
Marian joined the IIG in 1997 and after a short period of two years, she joined the family
of the IISA.
IISA Contact Details
Tel: 0861 00 4472 Fax: 0861 01 4472
myLifestyle Call Centre: 0861 22 4472
Address: 1st floor Victoria Gate South, Hyde Park Lane Office Park, Hyde Lane, Hyde Park
Postal Address: PO Box 413264 Craighall 2024
E-mail: info@iisa.co.za
Web Site: www.iisa.co.za
Sponsor a newsletter
news@iisa reaches
thousands of industry
contacts. To sponsor the
next edition of this
newsletter, please contact
Heidi Kruger
Tel: 011 341 9480 or
E-mail: heidi@iisa.co.za
Page 12 of 12