Did Sasria underestimate the scale of looting claims?
An article in last Thursday’s Moonstone Monitor made mention of claims by the MD of state-owned Sasria that it had more than sufficient cash reserves to honour claims. He is also quoted as […]
Industry News
Teething problems for NHI in South Africa
An article in Businesstech quotes the Free Market Foundation as saying that South Africa will need to make serious tax changes to be able to afford its proposed National Health Insurance (NHI). Funding […]
Insurance cover for losses resulting from civil unrest
With extreme looting hogging the headlines, many people are asking whether losses are covered by their short-term insurance. This will, yet again, be something that we will have to educate the masses on […]
Ombud Council Board Appointed
The latest FSCA newsletter provides details of this very important oversight body, established in terms of the Financial Sector Regulation Act. This Act requires financial institutions to be a member of an industry […]
Ombud Council Board Appointed
The latest FSCA newsletter provides details of this very important oversight body, established in terms of the Financial Sector Regulation Act. This Act requires financial institutions to be a member of an industry […]
Huge fines a serious warning to the industry
An FSCA press release on 8 July contains details of hefty administrative sanctions imposed on Momentum Wealth (Pty) Ltd and Momentum Collective Investments RF (Pty) Ltd for failing to comply with FICA requirements. […]
Private Sector joins Government in Vaccination race
A Fin24 article relates how the private sector has joined the race to get the nation to herd immunity status as soon as possible. “As South Africa races against time amid a wildly […]
Are insurers the only bad guys when it comes to Covid-19 BI claims?
A prominent article in my early morning paper contained rather scathing comment on the short-term insurance industry, claiming that it was making a profit while its clients were languishing because their claims were […]
Are insurers the only bad guys when it comes to Covid-19 BI claims?
A prominent article in my early morning paper contained rather scathing comment on the short-term insurance industry, claiming that it was making a profit while its clients were languishing because their claims were […]
Do I need to file an income tax return for the 2021 tax year?
Filing season opened on 1 July 2021, with a significant number of taxpayers being assessed automatically. Key dates to diarise: 1 July to 23 November 2021 – for non-provisional taxpayers filing online. 16 […]
Firm sues broker for neglecting to effect business interruption cover
A Cape Argus article dated 24 June 2021 relates the details of a short-term insurance client who is suing his broker for negligence in failing to effect insurance against business interruption, leading to […]
Sanlam Benchmark Survey notes impact of COVID-19 on retirement in SA
Some of the highlights from survey concerns suspended contributions, a decrease in fund members and greater focus on wellness. It also notes the impact of the default regulations introduced in 2019. Suspended contributions […]
Sanlam Benchmark Survey notes impact of COVID-19 on retirement in SA
Some of the highlights from survey concerns suspended contributions, a decrease in fund members and greater focus on wellness. It also notes the impact of the default regulations introduced in 2019. Suspended contributions […]
Legally sanctioned, but morally justifiable?
“There is something that has been bugging me since 2004”, writes Andró Griessel on the Netwerk24 website, “and that is the so-called early termination charges on contractual savings plans.” (My translation) Griessel states […]
Regulatory exams: Some good news and some not so good news
A number of changes to the General Code of Conduct for Authorised Financial Services Providers and Representatives become effective on 26 June 2021. The not so good news We reported on these changes […]
SCA rules for insurer after cancellation of life policy
Legalbrief Today reports as follows: When Johannesburg resident Susan Church decided to cancel her insurance policy from Discovery Life Ltd, she had no inkling of the events that were to befall her six […]
SCA rules for insurer after cancellation of life policy
Legalbrief Today reports as follows: When Johannesburg resident Susan Church decided to cancel her insurance policy from Discovery Life Ltd, she had no inkling of the events that were to befall her six […]
