Majority judgment ‘does not alter’ RAF’s liability for medical scheme members’ claims
The High Court in Cape Town rejects the Road Accident Fund’s contention that the Mlambo judgment has altered the legal landscape.
Author: Mark Bechard
PPS takes its mutual insurance model to the broader SA market
It says the new business division, called glu, provide members with straightforward insurance solutions and profit-sharing.
Court ruling on SRD grant could deepen the government’s fiscal crisis
The judgment strikes down restrictive aspects of the grant regulations, ordering the government to increase the grant and ensure that no eligible applicants are excluded.
Retirement fund secures R14m order against municipality and its officers
The High Court describes the municipality’s persistent challenges to the fund’s applications as an example of the destruction of the country’s constitutional ethos.
ConCourt divided over employers’ right to dismiss post-retirement employees
Can an employer rely on section 187(2)(b) of the Labour Relations Act when dismissing an employee who has worked beyond the normal or agreed retirement age?
Discovery to appeal ‘far-reaching’ judgment in favour of RAF
The High Court says Discovery Health misconstrued the scope of the judgment that set aside the RAF’s first directive on the payment of medical scheme members’ claims.
High Court reinforces key principles of disclosure in insurance
Applicants must fully disclose all relevant information during underwriting, even if it was divulged in past applications.
Enforcement is the Achilles’ heel in contribution compliance, says Adjudicator
The FSCA, National Treasury, and the Pension Funds Adjudicator tell MPs what they are doing to address the non-payment of retirement fund contributions. Regulatory interventions other than COFI may be in the offing.
R300m a year: the price tag of administering the two-pot system
The FSCA is evaluating whether administration fees are reasonable. If it believes they are not, it will explore whether it is necessary to cap or regulate fees.
Agreement can’t override an FSP’s duty to initiate debarment proceedings
The High Court rules on a former employee’s contention that the FSP’s notice of intention to debar was a breach of their settlement agreement.
Bank fraud: FICA doesn’t create a private law right to third-party damages
A couple who were victims of business email compromise argued that FICA imposed a private law duty on Nedbank to protect them from financial harm.
Debtor carries the risk, says High Court in ruling on cyber-fraud liability
The judgment highlights that confirming payment details is essential to avoid financial loss.
Dispute over cancelled policy: FST orders FAIS Ombud to reconsider decision
The Tribunal’s decision underscores that financial advisers’ duties are limited to the specific terms of their engagement.
FAIS Ombud erred in dismissing complaint against insurance broker, says Tribunal
The Ombud failed to investigate key facts around the broker’s alleged negligence in communicating an essential policy requirement.
Retirement savings not immune to SARS tax collection orders, court rules
SARS can appoint third parties to deduct tax debts directly from retirement funds, overriding the protections under the Pension Funds Act.
ConCourt clarifies when medical schemes can cancel membership for non-disclosure
Medical schemes cannot cancel membership based solely on the non-disclosure of a diagnostic procedure that does not lead to the diagnosis of a serious medical condition.
Small FSP that was fined R1.1m shares four lessons in FICA compliance
The owner of MIKA Finansiele Dienste emphasises that waiting for an audit before getting your house in order can have costly consequences.
