A discussion document, published on 11 June, provides clarity on how the FSB proposes to proceed with regulating 3rd party cell captive and “similar” arrangements. Some of the key proposals include that: Cell […]
The article below is, in the main, an extract from a media release by ASISA. The Association for Savings and Investment South Africa (ASISA) warned that, if the abuse of hospital cash plans […]
Those of you who use Mozilla Firefox will experience problems when downloading links to the FSB website. The FSB home page contains the following disclaimer: Opening and downloading of documents on this website […]
TCF is closer than we think. It appears to be on the FSB’s radar screen already, despite expectations that it will only become a reality next year. In an article we published on […]
We have long bemoaned the fact that determinations by the Ombud seemed to involve the advisor only, and not the product provider. In the recent Bekker determination, the Ombud makes the following point: […]
The purpose of the document is to provide guidance on: Activities that constitute binder functions Remuneration payable by the insurer to the binder holder and The Registrar’s interpretation of the regulations from a […]
Board Notice 43 of 2013 exempts Stokvels and Burial Societies from being licensed. This obviously means that they no longer fall under the jurisdiction of the FSB. It is very specific about who […]
A reader recently wrote: Hi Paul I am really battling to put together a Risk Management Plan that makes any sense at all. I am a one man business and don’t even employ […]
What obligations are there on you to provide clients with a reasonable explanation of the material terms of their policies? This topic is very relevant in terms of the recent Jerrier case, which […]
Quite often, people in the industry question the need for regulation. They look at the issue from their own perspective, and the fact that their clients have never complained about them. Unfortunately, it […]
We gave substantial exposure to the Jerrier case over the past few weeks. Last week, in a joint media statement, Treasury and SAIA provided details of measures agreed on, to enhance insurance disclosures […]
Last week, the FSB published an extensive list of licences which were withdrawn due to the non-submission of financial statements. If your financial year ends on 28 February, you are obliged to submit […]
A document entitled, “Policy Document on the requirements for and process with regard to the accreditation of Health Care Brokers and Broker Organisations”, was sent to registered practitioners in the industry last week. […]
Further to the article above, we would like to add a few thoughts to the debate on what is really an important issue for us. The Jerrier/Outsurance judgement created a major problem for […]
The Mercury reports that Sherwin Jerrier is R600 000 out of pocket after a judge ruled that Outsurance did not have to pay his claim after a car accident. He apparently omitted to […]
A certain individual in my previous life, who bore a strong resemblance to Attila the Hun, was fond of saying: “One cannot be a little pregnant.” He was, of course, referring to small […]
The telematic broadcast on 7 March provided factual information about FAIS related matters, with a good smattering of practical advice from the two guests. The first session of the presentation, by Charene Nortier, […]
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