The medical scheme says legacy issues contributed to post-transition challenges as members report delays with hospital authorisations and medication approvals.
South African multi-asset portfolios found favour with investors in the 12 months to the end of the first quarter of this year, according to the Association for Savings and Investment South Africa (Asisa). […]
The South African Reserve Bank (SARB) has identified the potential of an unfavourable outcome of the Financial Action Task Force’s Mutual Evaluation of South Africa as a threat to the stability of the […]
The Financial Services Tribunal (FST) has reiterated that a retirement fund cannot withhold a benefit if only a criminal case has been instituted against a member. In fact, even if the member has […]
In light of the approaching winter months, combined with the recent lifting of the national disaster act, South Africans have anxiously been watching an increase in Covid infections. The Conversation Africa spoke to […]
Momentum Metropolitan Holdings (MMH) and Sanlam are the only major life insurers in South Africa to have grown the value of their new business relative to pre-Covid levels, according to PwC. PwC based […]
As we reported last week, National Treasury has revised some of the levies that FSPs will have to pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill. […]
This link will open the complaints data from the Ombudsman for Short-term Insurance’s 2021 annual report. The insurers are sorted by number of complaints per thousand claims (column 5). As the Osti points […]
The Council for Medical Schemes (CMS) says it will be taking action against Insight Actuaries & Consultants joint-chief executive Christoff Raath following his comments about low-cost benefit options (LCBOs) on 19 May. The […]
The failure by the Council for Medical Schemes (CMS) to review the prescribed minimum benefits (PMBs) regularly is making private healthcare unaffordable for millions of people, according to the Board of Healthcare Funders […]
The Financial Services Tribunal (FST) as upheld the FSCA’s decision to debar a life insurance representative who admitted that she submitted unauthorised policy applications but subsequently sought to qualify her admission. What is […]
The fallacy that insurance commission is the root of all evil has led to numerous failed attempts to regulate it. Dr Brian Benfield, a retired professor from Wits’ Department of Economics, holds nothing […]
The Ombudsman for Long-term Insurance (Olti) released its annual report for 2021 last week. Here are 10 key take-aways from the report: 1. R200m recovered for complainants The Olti recovered R200 689 324 […]
This link will open a table of the 2021 complaints data of the 51 life insurers that subscribe to the Ombudsman for Long-term Insurance. The table lists the insurers by each insurer’s complaints […]
Poorly worded policies don’t only result in disputes over multi-million-rand commercial claims. The Ombudsman for Long-term Insurance (Olti) last year dealt with a number of complaints about rejected or limited funeral benefit claims […]
Last week, we reported on the landmark judgment by the Pretoria High Court that declared parts of the Divorce Act unconstitutional and invalid. The ruling means that individuals married out of community of […]
Up to 20 million low-income South Africans could afford basic private healthcare services if the Council for Medical Schemes (CMS) developed a framework for low-cost benefit options (LCBO), according to Business Day. The […]
The Financial Services Tribunal (FST) has upheld a determination by the Pension Funds Adjudicator that a security guard who lost the use of his right arm following a shooting did not qualify for […]
