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Author Archive | Janine Geldenhuys

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Health Market Inquiry report – Different views from opposing perspectives

On Monday, the Competition Commission released the findings of the Health Inquiry. The report was published after years of extensive consultation with industry experts, government officials and the general public. In their review of the South African private healthcare market they found that it is characterised by high and rising costs of healthcare and medical […]

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World Financial Planning Day – Partner with your client to reach their financial goals

Yesterday, 2 October 2019, was World Financial Planning Day. This day was organised by FPSB (The Financial Planning Standards Board) to raise awareness of the value of financial planning, of having a financial plan and of working with a competent and ethical financial planner who puts clients’ interests first. World Financial Planning Day is also […]

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What is the predominant reason for death claims? – Discovery Life’s claims data provides answers

Discovery Life’s 2018 claims data has revealed that unnatural causes continue to be the predominant reason for death claims, among people under the age of 30. Last year, the leading causes of unnatural deaths were motor vehicle accidents (35%), suicide (32%), other accidents (17%) and crime (16%). In 2018, Discovery paid out R4.2 billion in claims, […]

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Premium collection by intermediaries – Compliance deadline extended

The FSCA has extended the period of compliance for collection of premiums by intermediaries, specifically the requirement for a separate bank account to only contain premiums, from 28 September 2019 until 1 February 2020. Paull Lawrence from Moonstone Compliance points out that this is largely due to the retail market where insurance is ancillary to the commercial contract and […]

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GEPF – Rules changed regarding pension debt on divorce

Following the gazetting of the Government Employees Pension Law Amendment Bill on 23 May 2019, the Government Employees Pension Fund (GEPF) has amended and implemented the new rules and will no longer subject a member to a debt model in executing a divorce settlement. Instead the new amendment provides for the reduction of pensionable service […]

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Criminals now use digital technology to commit crime

In a recent media release, SABRIC, the South African Banking Risk Information Centre, on behalf of the banking industry informed bank customers about a scam known as ‘Business Email Compromise’ (BEC) where criminals literally ‘steal money by asking for it’. This scam targets specific employees in organisations who are authorised to transfer funds or make […]

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Car hijackings – Who should be more careful?

According to latest statistics, vehicle owners in Gauteng and KwaZulu Natal face the highest probability of being carjacked or having their vehicle stolen, while those in the Northern Cape, Free State and Limpopo appear to be at the lowest statistical risk. These statistics are based on an analysis from AI-driven car insurance provider, Naked, which […]

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