Updated: Discovery to petition SCA after losing appeal against R25m disability order
The key issue in the appeal application was the relationship between the insured event and the life insurer’s duty to pay the claim.
Author: Mark Bechard
Tribunal’s ruling highlights a principal officer’s reporting obligations
The decision highlights numerous irregularities at the Private Security Sector Provident Fund that were not reported to the FSCA.
FST ruling has ‘far-reaching implications’ for trustees, principal officers, says FSCA
The decision sets out how PSSPF board members racked up fees for meetings and ignored the fund’s procurement policy.
Brokers, clients looking for contract certainty with grid-collapse exclusions
SAIA is concerned about consumers’ perceptions of the insurance industry as covers are removed but premiums increase.
Debarment for being paid a referral fee by a competitor not justified, says FST
The employer did not point to a single provision in the FAIS Act, or any other legislation, that prohibits this.
Administrator contests Adjudicator’s determination in dispute over loss of members’ benefits
Moriting Wealth Managers was not given an opportunity to state its case before the final determination was issued.
Vital ‘ingredient’ missing in Old Mutual’s notice of intention to debar
The applicant was ‘left to guess’ the factual allegations on which the intended debarment was based, tribunal says.
Settlement agreement with representative sinks FNB debarment
That the parties entered the agreement after the notice of intention to debar had been sent was highly relevant.
Rep debarred for sharing client information while on garden leave
She alleged the evidence of her conduct was obtained through an ‘unlawful search’ of her personal email account.
Treasury publishes draft legislation on renewable energy tax incentives
Grey areas remain when it comes to the rebate for residential solar panels.
How the expanded section 12B allowance may benefit businesses
A taxpayer who generates renewable energy for the purpose of trade should qualify for the allowance.
Brokerage debars KI for unauthorised transmission of confidential information
Applicant tells the tribunal she transferred the information to her private Gmail account to support her complaint to the CCMA.
R600m dividend: Eskom’s insurance captive asks for fine to be reconsidered
The board’s rushed decision, based on unaudited interim figures, put the shareholder’s interests above those of the policyholders, tribunal says.
Discovery must pay R25m to ex-stockbroker who suffered mental breakdown
The life insurer acted unreasonably when it did not consider reports on the man’s incapacity after his policy expired, judge says.
Tribunal sets aside debarment of consultant who changed record of advice
The far-reaching implications of debarment were not justified in the circumstances, the FST finds.
Trustees are in contravention of beneficial ownership regulations, says FISA
Trustees cannot be expected to have all the information within a few hours of the gazetting of the final regulations, it says.
A deeper look at the solar panel tax incentive for individuals
There are a number of grey areas that the draft legislation will (hopefully) clarify.
