Misunderstanding explains consumers’ low trust in insurance, survey finds
It also found that customers’ perceptions of how financial institutions – specifically, their bank – treat them affects their uptake of insurance.
Industry News
What customers look for when choosing financial products and services
Respondents believe that charges should be for the ‘core’ financial product or service only, with additional features perceived as free add-ons.
Preliminary report reveals cause of fire at Vodacom head office
Initial speculation pointed to the solar panels on the roof as the cause.
CMS releases guidelines on medical scheme increases for 2024
Members must be protected from further financial distress and the risk of losing their health insurance, the regular says.
Anger, despair, and hope – stokvel members respond to email urging patience
A member of United African Stokvel shares why she invested R200 000 despite her initial misgivings.
Prison term of 15 years sends strong warning on tax fraud
Sentencing of business owner highlights Sars’s determination to combat tax fraud and non-compliance.
OUTsurance expects Australian operations to boost profits
A trading update also says the group is considering what to do with OUTvest, which may include selling it.
South African banks are not the culprits as portrayed
The banking sector is one of the few pillars standing in a country that is effectively under business rescue after imploding from state capture.
Director’s passport blocked amid efforts to recover Classic’s assets
Claim documents have been sent to creditors as the provisional liquidators take steps to recover assets and secure funds held in the name of Classic Financial Services One.
‘Barbie mania’ puts investors in the pink
From the pink-clad world of Barbie to the dazzling lights of music tours, the impact of pop culture phenomena on the global financial markets is shaping investors’ decisions.
Proceed carefully: damages resulting from scams are not covered
An insurance provider advises caution following a surge in the trade in counterfeit luxury goods.
Why the FAIS Ombud is closing its files on property syndication complaints
Adjudication of the complaints requires hearings, which are more conducive to a court of law, the Ombud says.
Criminal investigation into Classic Financial Services and its director gets under way
Investors in Classic Financial Services have been told to wait before filing any further applications for the exclusion of their interest in preserved funds following its liquidation.
Insurers and their clients count the cost of extreme weather
The insurance industry faces the challenge of striking a balance between affordability for clients and ensuring long-term sustainability amid the changing risk landscape.
Doctors’ organisation urges NCOP not to pass NHI Bill
Communities sceptical about the government’s assurances that NHI will provide better health care, Sama says.
PSG Wealth buys IFA business to enhance its advisory capacity
It says many similar transactions will follow the acquisition of Progressive Wealth.
PA and Sarb apply for the final liquidation of Habib Overseas Bank
The curator finds there are no reasonable prospects that the bank can be rehabilitated as a going concern.
