Sales fraud, where intermediaries write-up policies without clients’ knowledge to earn commission, constituted 57% of all fraud cases in 2022.
COMPLY WITH DIRECTIVE 7 BY FRIDAY OR FACE THE CONSEQUENCES, SAYS FIC
Accountable institutions that ignore Directive 7 and fail to submit a risk and compliance return (RCR) by Friday face being sanctioned by the Financial Intelligence Centre (FIC).Read more
Asisa says it is encouraging that the 2.5% to 5% drawdown rate made up the biggest income band by number of policies.
The barriers to uptake include affordability, inappropriate distribution models, and lack of product knowledge, Treasury says.
There are hints the president may decide not to sign the legislation into law in its current form.
Ryan van de Coolwijk, the head of cyber insurance at iTOO Special Risks, highlights the increasing adoption of cyber insurance among South African companies.
Discovery Health Medical Scheme defends the term ‘comprehensive’, asserting its widespread and accepted usage throughout the medical schemes industry.
The FSCA says it is investigating various entities because of concerns that they may be offering unauthorised investments.
The behaviour of the US equity market over the next quarter or so will baffle many investors and financial advisers, as it will appear to be disconnected from the US economy.
National Treasury will introduce the COFI Bill ‘very soon’ and amend the Financial Markets Act to tighten regulation of the country’s financial markets.
The former chief executive of Massmart and Edcon filed a complaint with the Advertising Regulatory Board against Discovery Health Medical Scheme.
A recent High Court ruling underscores the fiduciary duties of financial services providers in the context of escalating digital threats.
The excitement of scoring great Black Friday deals is accompanied by a crucial reminder: the importance of insurance to safeguard purchases from unforeseen mishaps.
The collaboration aims to empower Old Mutual Insure to broaden its footprint and provide specialised liability coverage throughout the African continent.
The SCA finds the policyholder failed to produce evidence to support his pleaded claim for damages based on the vehicle’s market value.
Steps the insured can take to enhance the likelihood of a successful claim.
But AUM grew by 11% when measured over the 12 months to the end of September.