Why insurer changed its mind after declining a claim
The question of full disclosure at the time of application, as well as during the term of a policy, came to the fore in a recent article published in Rapport. After first repudiating […]
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.
Advice for intermediaries when talking to clients about cyber insurance
Cyber security is getting closer to the boardroom, and it is only a matter of time before a failure to implement basic cyber security protocols will result in claims against directors and officers […]
New RSA Retail Bond allows investors to top up or switch into other bonds
National Treasury’s Asset and Liability Management Division officially launched its Top Up Retail Bond on 1 April, offering investors a return of 8.75%, with interest compounded quarterly, over a minimum investment term of […]
Satrix once again wins Morningstar award for best asset manager
For the second year in a row, passive manager Satrix Investments has won the award for Best Fund House: Larger Fund Range at the Morningstar Fund Awards South Africa for the risk-adjusted performance […]
Satrix wins big at listed tracker awards
Satrix Managers walked off with nine of the 26 awards presented at the fifth annual South African Listed Tracker Awards (Salta) event on 30 March. This is the second year in which Satrix […]
Father can’t get money from sale of his house until he pays child maintenance, judge rules
A Johannesburg father who owes about R200 000 in maintenance for his children will not be able to get his hands on the proceeds of the sale of his house until he pays […]
Tax considerations for cross-border workforces
Given the ever-changing landscape of the past two years, the adage that nothing is certain except death and taxes is perhaps more apposite than ever. Although it may appear that a semblance of […]
Asisa recommends that tax regime be left as it is when two-pot system is introduced
The Association for Savings and Investment South Africa (Asisa) says the tax regime for retirement savings should not be changed when the two-pot retirement system is introduced, but any changes should only be […]
Send me your complaints about healthcare brokers, says FAIS Ombud
The FAIS Ombud this week issued a media release encouraging medical scheme members to lodge a complaint with her office if they believe they have been “financially prejudiced” by a healthcare broker’s advice. […]
Regulator unhappy with TransUnion’s handling of data breach
TransUnion is directly contacting the individuals whose personal information it knows has been impacted by the hack reported over a week ago. This comes after the Information Regulator (IR) expressed its dissatisfaction with […]
Benefit increases for health insurance policies
National Treasury has published the benefit increases for health insurance policies that fall under the Long-term Insurance Act (LTIA) and Short-term Insurance Act (STIA) in terms of the Demarcation Regulations. The 2016 regulations […]
FIC continues to clamp down on motor dealerships
The Financial Intelligence Centre (FIC) continues to clamp down on motor vehicle dealers that don’t comply with the Financial Intelligence Centre Act. Earlier this month, the FIC imposed fines of almost R5 million […]
Inseta extends discretionary grant funding deadline
Inseta has extended the deadline for companies in the insurance and related sectors to apply for discretionary grant funding for 2022/23 from 31 March to 13 April. Applications will be accepted at Inseta’s […]
Stretching the boundaries beyond credibility
Access to free informal dispute resolution mechanisms was guaranteed to attract the attention of those with nothing to lose. Two recent decisions by the Financial Services Tribunal confirm the lengths to which some […]
Payroll tax, surcharge on income tax will be considered to fund NHI
A payroll tax and a surcharge on personal income tax will be considered as additional sources of funding for National Health Insurance (NHI) once the necessary reforms “are ready”, the Department of Health’s […]
Basic income grant or NHI will result in tax increases, says Treasury
Large permanent increases in government spending, such as for a basic income grant or National Health Insurance (NHI), will have to be met by a permanent increase in revenue, which will mean higher […]
Adjudicator overstepped her authority in deciding that pension fund’s rule did not apply retrospectively
The Gauteng High Court has overturned a determination by the Pension Funds Adjudicator, ruling that she exceeded her jurisdiction and did not follow a fair procedure when deciding that a fund’s amended rule […]
