Features of accidental death product lead consumers to think they’re buying a funeral policy
An insurer has a duty to draw a policyholder’s attention to any usual term or condition, the ombudsman says.
Author: Moonstone Information Refinery
A handy guide to the payment of retirement fund contributions for trustees
What you should know about reporting, calculating penalty interest, the in duplum rule, and the employer’s liability.
Update: Fica webinar for new accountable institutions is now fully booked
We are giving away two-and-a-half hours of Fica compliance expertise on 7 June.
End of compulsory audit firm rotation rule ‘poses minimal threat in the short term’
Irba says it will work with Parliament to address the technical legal issue raised by the Supreme Court of Appeal’s judgment.
Organised crime and illicit trade are sucking billions out of the economy
The lockdowns provided illicit traders with a golden opportunity to expand their activities, report says.
MBSE’s Higher Certificate in Wealth Management is the ideal entry-level qualification for a financial services career
This qualification is a building block to becoming financial planning professional.
Ruling on whether a Covid claim was excluded prior to the completion of underwriting
The Ombudsman for Long-term Insurance finds that the policy wording did not support what Old Mutual intended to achieve.
Sanlam notes uptick in sickness, disability claims among younger South Africans
The total value of claims in 2022 was 23% lower than in 2021, partially because of a marked decrease in Covid-related claims.
Momentum’s sales of long-term savings and protection products under pressure
And Momentum Insure takes a knock from the higher cost and the increased frequency of claims.
Section 14(1) ‘knowledge test’ under the spotlight in two debarment matters
In one case, the FSP was still investigating the alleged fraud when it decided to bar the representative.
Trustees of non-PFA fund not bound by a member’s nomination form
A reviewing body will have grounds to intervene only if a fund fails to take into account relevant considerations and ignores irrelevant considerations.
Old Mutual’s gross written premiums up 19% in the first quarter
Life insurance sales down slightly as the group stops selling certain products in China.
Deadline for report on PAIA requests is 30 June
This is the first time the Information Regulator has asked private bodies to submit this type of report.
Why policyholders complained to the short-term ombudsman in 2022
Annual report notes a steady increase in disputes related to power surge claims.
Apply today for MBSE’s Postgraduate Diploma in Financial Planning
The qualification is demanding, but it’s ‘definitely possible to get across the line with Moonstone’.
Short-term insurers with the most and the least complaints in 2022
The important statistic is the proportion of personal lines complaints relative to an insurer’s share of the total personal lines claims.
What’s inside the long-term insurance ombudsman’s 2022 report
Decline in the number of complaints and in the number of cases resolved in favour of policyholders.
