The Management of Risk by Burial Societies in South Africa

Abstract

This paper explores the ways in which burial societies mitigate the risks associated with funerals that would otherwise devolve on the members of those societies, and on their families. It considers members\' perceptions of the risks faced by the burial societies themselves. It explores the ways in which burial societies develop community and establish trust. It investigates the procedures that have been developed by burial societies, on the basis of the trust so established, for the management of their risks. Finally, it considers problems relating to the insurance of mortality risks in the burial society movement. KEYWORDS Burial societies; mutual assistance schemes; funeral insurance; assistance business; social capital; risk management (South African Actuarial Journal: 2002 2: 83-127)