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Binder Workshop in Durban

This is the only venue where we still have seats available. It will be presented at our RE venue in Musgrave Centre on the 13th floor, on 13 November. I wonder if this is why Durbanites are reluctant to book? If it is any consolation, I think you used up all your bad luck on Saturday, guys.

Please make sure you know what your obligations are from January next year.

We look at what Binder Agreements are, how they work and what you need to do in your business to ensure that you are compliant with the new regulations as contained in Sections 48(A) of the Short-term Insurance Act, as well as Regulation 6 to the Short-term Insurance Act.

We discuss Directive159 for Long-term and Short-term Insurance, and its ramifications for so-called administrators and intermediaries performing administrative functions on behalf of insurers. The outsourcing directive will also impact on underwriting managers performing administrative functions for insurers. We focus specifically on the impact it has on current remuneration practices, and the sub-outsourcing of administrative functions from administrators and/or underwriting managers to other intermediaries.

Information Letter 3 of 2012 is a no-nonsense letter, warning the industry to align its remuneration practices to those contained in the Long-term and Short-term Insurance Acts and the regulations thereto. What are you allowed to charge for, and what not?

Feedback from people who attended the workshops are possibly best be summed up in the words of one attendee who said: “Very informative and apart from the “bad news” on the topic I really enjoyed it.”

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