Secondary

TCF

Santam makes TCF decision

An Operational Circular titled “Settlement of claims on damaged or stolen vehicle tyres and shock absorbers/springs”, issued on 24 January 2017, provides a good example of Treating Customers Fairly in action. Commercial and Personal lines Motor policies cover loss of or damage to the insured vehicle. Without loss or damage the Company is not liable. Damage to […]

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POPI-(1)

Possible POPI Commencement Dates

ITWeb recently printed an article titled Regulatory quagmire awaits SA’s IT businesses which provides, inter alia, some idea of what we can expect in terms of the roll out of the Protection of Personal Information Act (POPI). Law firm Michalsons believes that in 2017, data protection compliance will become more urgent. This is because of […]

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Registration

Filtering the Fintech hype

A tale of old banking, new banking and the missing wallet I was travelling in the UK earlier this year and I managed to lose my wallet. That is a horrible experience at the best of time, but absolutely the worst experience when sitting at a train station outside of London, heading to Heathrow to […]

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Short-term

Short-Term Insurance Premium Collection – Now and in F …

From enquiries we receive, there appears to be some confusion regarding the collection of short-term insurance premiums. This is understandable, given the various amendments to the STIA, the implementation of the Financial Sector Regulation Act, the recent amendments to the Regulations and comments made regarding certain proposals in the Retail Distribution Review Updates. Little has […]

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Client engagement

Bringing back the human element in client engagement

Here’s a novel revelation.  It turns out customers are also human, after all.  It fascinates me that in many industries and businesses we seem to have forgotten that customers (those folk that buy and consume, pay bills and keep businesses afloat) are actually human beings.  When did that undisputable fact get lost?  We now have […]

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RE

Regulatory Exam Bodies may not endorse Training Services

Regulatory Examination bodies such as Moonstone operate in terms of a mandate from the FSB. In a sense, we represent the Regulator, which means that we are bound by exactly the rules and regulations they need to comply with to be seen to be 100% unbiased and impartial. To this end, neither the FSB nor […]

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Short-term

Risk Involved in Short-term Home Rentals

The latest Mutual and Federal newsletter contains an article by SA Property News of interest to brokers and their clients who make use of facilities like AirB&B to rent out their houses and flats on a short-term basis to earn additional income. Attie Blaauw, head of personal lines underwriting at Santam says: “When you decide […]

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legislation

Legislative Instruments under the FSR Bill

In an informative assessment of the Financial Sector Regulation Bill, Alan Holton, an associate of Moonstone Compliance, wrote: “The Bill makes provision for the Prudential Authority and Financial Sector Conduct Authority to create ‘legislative instruments’. This term is defined and means subordinate legislation made in terms of a financial sector law, and includes regulations, prudential […]

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