Compliance officer visit exemption continues
Compliance officers may continue using a risk-based approach to determining visit frequencies instead of complying with the prescribed minimum intervals.
COFI: What must an advice file prove beyond compliance?
The FSCA’s Lezanne Botha explains why signed forms and completed disclosures are not enough, and what evidence can show that advice was suitable and customers were treated fairly.
Premium-collection relief retained for three years
The extension preserves the existing framework allowing qualifying juristic representatives to collect and deal with insurance premiums on behalf of insurers.
Insurance-cover exemption extended for underwriting managers
Qualifying Category I and Category IV underwriting-manager FSPs remain exempt from the section 13 requirement, subject to the existing conditions.
Was it really just Covid?
A review of five years of Medihelp’s annual reports traces the events behind the scheme’s fall below and its rise back above the statutory minimum.
Santam joins insurers rewarding claim-free customers with cashback
The new programme pays qualifying policyholders 10% of premiums back after claim-free periods, reflecting the growing use of rewards to build customer loyalty.
Audit report and liquidity exemption for certain FSPs renewed
Qualifying Category I FSPs that handle insurance premiums on behalf of insurers may continue relying on the existing exemption until 30 June 2029.
Private equity FAIS relief continues until 2029
Qualifying providers and certain juristic representatives will continue to benefit from targeted regulatory relief, with the existing exemption conditions unchanged.
Kandua launches AI home maintenance companion
Jess helps homeowners to diagnose repair problems, estimate costs, and connect with contractors, illustrating how AI is expanding beyond insurance into everyday customer services.
The quiet revolution in retirement fund costs
Despite two decades of growing regulation, administration costs have fallen sharply, leaving more retirement contributions invested for members.
Medihelp’s turnaround: How the scheme rebuilt its business before its balance sheet
Twelve months after reporting a solvency ratio of just 20.99%, Medihelp returned above the statutory threshold while almost nine-folding its operating surplus.
SARB forfeits nearly R11m in assets from former Steinhoff executive
The Reserve Bank orders the forfeiture of Chris Grové’s cash, property, and vehicles following a long-running exchange-control dispute.
Seven years of growth: What Bestmed’s numbers say about its sustainability
Membership, claims, reserves, and solvency all point to a strong year, but they also reveal the long-term pressures facing the scheme.
Trust tax filings jump as penalties start to roll out
Trustees face growing pressure to file outstanding returns or formally deregister dormant trusts before penalties escalate.
Discovery financially stronger, but beneficiary base shrinks again
DHMS improved its solvency, surplus and principal membership, but an ageing risk pool, fewer beneficiaries, and a claims-system error tempered the year’s progress.
Tribunal clarifies test for qualification exemptions
The ruling explains why exemption applications require objective statutory grounds rather than pleas for indulgence.
Funeral insurance Bill moves to Parliament, but questions persist
The proposed reforms could require significant operational changes for insurers, but industry experts believe they address only part of the problem.
FSCA provisionally withdraws Mixirite’s licence
The regulator’s concerns include alleged high-pressure sales tactics, unrealistic return promises, and inadequate disclosures to clients.
