Author Archive | Paul Kruger

Suitebox Horizontal Banner


Technology and Disintermediation

A recent article in Insurance Gateway® titled Thematic considerations for the future of the insurance industry by Rahima Cassim, Fund Manager at Ashburton Investments, contains some interesting thoughts on where the industry is heading. “With the evolution of technology, there has been an incremental shift in the balance of power from the insurers to the […]

Continue Reading

Register for fake qualifications proposed

Dankie Frans Petrus Zeelie van Moonstone Business School of Excellence vir die aanstuur hiervan. Chantall Presence writes in Business Report that steps are being taken to name and shame holders of bogus qualifications. The South African Qualifications Authority (SAQA) has so far identified 1 276 fake academic qualifications, with some of the cases already handed over […]

Continue Reading

Fees Due and Financial Soundness Calculation

Ken’s question Thank you for the article regarding financial soundness. Are fees/commissions due, but not yet received, construed as an asset? As you know, most institutions pay during the month following the receipt and final processing of new business. In our accounting system, we create an invoice in respect of the specific institution/ transaction immediately […]

Continue Reading

FSB’s Core Focus for Transition to FSCA

Below is a summary of a recent article by Advocate Dube Tshidi, Executive Officer at the FSB, which was published in Insurance Gateway. When the FSB becomes the Financial Services Conduct Authority (FSCA), it is not merely a switch to a new entity. It is the establishment of a completely new organisation which requires a […]

Continue Reading

Breathing space for Medical Insurers

Demarcation Regulations, published on 23 December 2016, determined that certain insurance policies that have elements of a business of a medical scheme shall be ‘health policies’, and ‘accident and health policies’ respectively. The ‘health policies’, and ‘accident and health policies’ determined as such by the Minister of Finance exclude primary healthcare products and hospital indemnity products. These […]

Continue Reading

Compassion not an alternative to Compliance

The latest ruling by the Appeal Board reaffirms the fact that there really is no alternative, harsh as it may sound. The appellant appealed against the withdrawal of his licence by the Registrar. This decision was based on no less than ten instances of non-compliance with the provisions of the FAIS Act. Some of the […]

Continue Reading

CMS Training

The Council of Medical Schemes will be running the following training from April onwards. Accredited skills programs Induction broker training Trustee induction training and Advanced broker training Each of the above has its own specific qualifying criteria, and some also involve costs. Please click on this link to see the schedule and to register for […]

Continue Reading

Work smarter and harder

The Afrikaans idiom, “Van uitstel kom afstel” probably rings more true than the English equivalent: “Procrastination is the thief of time” as far as the financial services industry is concerned. Failing to adapt in time to a changing business environment could cost much more than just lost time. Big businesses have the means and resources […]

Continue Reading

Sharemax Investigation Reopened?

Sharemax and the media never had a cosy relationship. In the early days, Deon Basson published a number of articles in which he asked searching questions which eventually led to legal action by Sharemax. After his death, Julius Cobbett, on behalf of Moneyweb, took up the cudgels and succeeded after three years to get access […]

Continue Reading

RDR in Perspective

I was fortunate to attend a recent presentation on this topic by Billy Seyffert, COO of Moonstone Compliance. Many see the Retail Distribution Review as the beginning of the end. In a way, this is correct, but only in so far as it applies to the world as we know it. Why RDR? Two concepts, […]

Continue Reading