Discovery members ‘make the Smart move’, while KeyCare loses ground
The decline in KeyCare Plus membership reflects a reduction in employer subsidies and fewer mandates for medical scheme membership, DHMS says.
Author: Moonstone Information Refinery
Tribunal upholds R1m fine and 15-year debarment for unlicensed trading
Mareo-John Nel breached the FAIS Act after signing an enforceable undertaking to remedy the same unlawful conduct he committed previously.
Insurers using tech to beat scammers at their own game
Beyond one-off fakes, syndicates are exploiting AI to reuse damage photos and cloned invoices across multiple claims.
South Africans’ ‘retirement plans’ driven by unrealistic assumptions
FNB survey also finds that most under-60s expect to work beyond their retirement age, with only 10% planning a full stop.
Full disclosure is essential as farming operations evolve
Changes such as joint ventures, investing in infrastructure, and switching to higher-value crops can introduce risks that may not be covered.
Customary vs civil marriage: court rules they cannot co-exist
Judge dismisses claim both marriages are valid, sending dispute back for further evidence on the customary marriage’s existence.
Consumers adjusting insurance covers to cope with rising cost of living
Santam says clients are opting for core covers only, part-insuring assets, increasing excesses, and taking risk-mitigation measures to reduce premiums.
SCA: purchasers bear the risk of cyber-fraud when paying by EFT
If a buyer transfers funds after relying on altered invoice instructions, the contractual obligation remains unfulfilled until the seller’s nominated account is actually credited.
Old Mutual’s risk benefit payouts rise by 4.3% to R14.7bn
The ‘big four’ illnesses made up 73% of severe illness claims; cancer alone accounted for 68%, driven by breast and prostate cancers.
Consumers caught in hidden debt trap as ombud flags unfair practices
From hidden VAS fees that quietly inflated balances to wrongful fraud listings, the NFO Credit Division’s interventions have secured millions in write-offs.
Bestmed marks sixth year of membership growth
Despite economic headwinds and high claims ratios, Bestmed grew net membership by 4.4% in 2024, bolstered by strong solvency and a R164.4m surplus.
Tribunal upholds strict timing for FSP debarments
Section 14(1)(b) of the FAIS Act cannot be stretched to catch misconduct discovered after a representative’s tenure.
Prudential Authority sanctions three banks for FICA breaches
HBZ was fined an effective R7.5m, Citibank’s fine was fully suspended, and Bank of Taiwan was reprimanded.
Crime, fire, and weather remain key drivers of commercial claims
Theft under property covers remains the leading driver of crime-related claims, even as overall crime claims dipped in 2024, Santam reports.
Brokers look to digital tools to reclaim time for client engagement
Two-thirds of brokers say they want plain-language breakdowns of extensions and exclusions, according to the 2025 Santam Insurance Barometer.
Wake-up call for RAF as SCOPA prepares for full-scale inquiry
A whistleblower-backed memorandum discloses how a legitimate RAF lease was allegedly overturned to favour Mowana Properties.
Insurance Barometer identifies top risk concerns and claims trends
The weak economy, deteriorating infrastructure, and volatile weather are creating a tough environment for insurers and businesses.
