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.
Industry News
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.
The case for trusting Statistics SA’s unemployment data
While sub-national surveys may capture bustling township enterprises, they risk aggregation bias if extrapolated directly to the country as a whole.
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.
Medihelp’s solvency dips again, but scheme says recovery plan is working
Medihelp says its recovery plan is on track, with strong cost controls, younger members, and CMS-approved funding measures set to restore financial stability by 2026.
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.
Need for trust and taxpayer support to drive voluntary tax compliance
Despite improvements in taxpayer education and system simplification, low trust in government remains the biggest barrier to voluntary compliance in Africa.
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.
SARS escalates crypto crackdown – how to advise clients
Whether clients are long-term holders of crypto or occasional traders, transparency now is better than an audit later.
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.
Non-life complaints resolved in favour of policyholders at 16.5%
Lead Ombud Edite Teixeira-Mckinon warns against drawing hasty conclusions about complaints stats without factoring in claims volumes and policy counts.
