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The robots are coming … is insurance ready for AI?
The insurance industry is founded on predicting, as accurately as possible, whether or not a risk will materialise in a fast-moving competitive environment.
Global | Publication | May 24, 2016
On 7 May 2015, the Minister of Labour, in her budget vote speech, announced proposed amendments to the Occupational Health and Safety Act (OHSA) and the Compensation for Occupational Injuries and Diseases Act (COIDA).
The Chief Inspector has provided a forecast on what to expect and the implications for employers.
The following are important features to be expected:
The National Economic Development and Labour Council and the Department of Labour have engaged in internal consultation processes on the provisions of the OHSA Amendment Bill and the COID Amendment Bill. The Minister has emphasised that the legislative process is being fast-tracked to ensure that these Bills are tabled in parliament this year.
The Minister has stated that the purpose of the OHSA Bill is to align OHSA with employment and labour legislation, and to regulate triangular employment relationships, where workers are employed by an agency or contractor and do work for other entities. The COID Amendment Bill intends to align COIDA more closely with other labour legislation, and to provide a legal framework for the Compensation Fund to more effectively promote programmes that facilitate employees’ return to work.
The Deputy Minister of Labour reiterated in his budget vote speech delivered on 10 May 2016, the Department of Labour’s commitment to ensuring that the following objectives are achieved:
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The insurance industry is founded on predicting, as accurately as possible, whether or not a risk will materialise in a fast-moving competitive environment.
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The increasing frequency and severity of climate-related natural disasters is having a big impact on physical risk exposures and the increasing protection gap.
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On 6 September 2022, the European Commission (EC) prohibited Illumina’s acquisition of Grail, bringing to an end the administrative stage of a legal saga that has attracted interest beyond competition law specialists.
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