Sasria sets 10-day deadline for unrest claims
The South African Special Risk Insurance Association (Sasria) has set a 10-day deadline for the submission of claims related to the unrest in July last year. The 10-day term, effective from June 13, […]
Appeals Board ruling puts Centriq–Dis-Chem partnership on the line
In Circular 48, the CMS signals tougher enforcement against exempted insurers, warning that non-compliant branding and failure to notify regulators will attract decisive action.
NHI will be implemented gradually, says Health Minister
Health Minister Dr Joe Phaahla says the government plans to implement National Health Insurance (NHI) incrementally and gradually phase out the role medical schemes play in funding private healthcare services, according to reports […]
Debarment of rep who was employed by two FSPs set aside
The Financial Services Tribunal (FST) has set aside the debarment of a representative who shared confidential proprietary information with his wife and who signed up with a competing FSP while still employed by […]
Sars is ‘aggressively’ collecting tax debt via third-party appointments
The South African Revenue Service (Sars) is “aggressively” collecting outstanding tax debt, including by withdrawing funds from bank accounts and garnisheeing salaries, according to Andre Daniels, legal manager: tax controversy and dispute resolution […]
How to win your professional clients’ loyalty for the long term
Most intermediaries will agree that finding cover that completely addresses the needs of professionals is a tough ask. This market faces myriad unique challenges. There needs to be a greater understanding of what […]
Fix the issues, don’t fight them
There is a particularly apt old African saying: When elephants fight, it is the grass that suffers. In his opening address at the 2022 Board of Healthcare Funders annual conference, the Minister of […]
Sars defends its handling of VAT refunds and taxpayer disputes
The South African Revenue Service (Sars) has defended the way it handles VAT audits after this issue, as well as the time taken to resolve disputes, was raised by the Tax Ombud in […]
FSCA appoints statutory manager for N-e-FG Administrators
The FSCA has appointed a statutory manager for N-e-FG Administrators (Pty) Ltd, saying it is concerned about N-e-FG’s failure to manage the funds it administers responsibly. It is also investigating N-e-FG’s conduct relating […]
Santam flood claims hit Sanlam’s earnings
Sanlam has reported “a creditable performance” for the first four months of this year, with “strong results” in the life insurance and investment management businesses offsetting weak general insurance and credit business results. […]
King Price plans to ‘go big’ with life insurance
King Price Insurance plans to “go big” with its life insurance business in the next quarter and is expanding its footprint in Europe. Chief executive Gideon Galloway said the insurer has grown by […]
FSCA fines Poneso Consulting and Poneso Employee Benefits
The FSCA announced this week that it has imposed a fine of R200 000 on Poneso Employee Benefits and Actuarial Consultants (Pty) Ltd and Poneso Consulting (Pty) Ltd for contravening a provision of the […]
High Court judgment ‘is a caution to insureds who seek to obstruct an insurer’s access to information’
In what is a rare win for an insurer in recent times, the Gauteng High Court’s judgment in Musa v King Price Insurance Co on 9 May highlights the importance of insureds abiding […]
How to increase the likelihood that your objection to a tax assessment will succeed
Benjamin Franklin said, “diligence is the mother of good luck”, and that is exactly what is required when drafting an objection to an assessment or additional assessment issued by the South African Revenue […]
Finance MPs want action on Tax Ombud’s independence
Parliament’s finance committees have resolved that their respective chairpersons will engage directly with Finance Minister Enoch Godongwana on legislation to make the Office of the Tax Ombud (OTO) “more clearly” financially and operationally […]
Most respondents say they will adopt a D-I-Y approach when planning their retirement income
Most respondents who participated in the latest Just Retirement Insights survey believe it is important to set objectives based on their financial needs, but more than 60% said they intend to decide what […]
Tribunal upholds debarment for providing unauthorised advice on Ecsponent preference shares
The Financial Services Tribunal (FST) has upheld Discovery Life’s decision to debar a financial adviser who advised clients to invest in Ecsponent preference shares although he was not authorised or licensed to advise […]
Reduction in CPD requirements: FSCA explains why KIs and reps are treated differently
The FSCA has confirmed that the provision for a pro rata reduction in CPD hours as a result of parental leave, or because of illness or disability, applies only to an FSP’s representatives, […]
