Discovery Health has abandoned recovery action against more than 16 500 members, agreeing to absorb up to R170 million in overpaid ATB claims after sustained pressure from MediCheck,
Possibly the single biggest pandemic issue affecting the short-term insurance industry was the contingent business interruption (CBI) controversy. At first, insurers denied liability, claiming that the lockdown was not an insured peril. It […]
The Information Regulator (IR) has finally published the proposed amendments to the regulations issued in terms of the Protection of Personal Information Act (POPIA). It has also published the Rules of Procedure governing […]
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
South Africa’s short-term insurance sector experienced a 28% fall in profit after tax (PAT) last year, from R8.3 billion in 2019 to R6bn, largely because of defaults on credit, an increase in net […]
Policyholders’ misunderstanding of what is meant by waiting periods in the context of income protection policies was the main reason FMI rejected claims last year – and buying a policy with an inappropriate […]
Policyholders’ misunderstanding of what is meant by waiting periods in the context of income protection policies was the main reason FMI rejected claims last year – and buying a policy with an inappropriate […]
“Merely claiming” that compliance with the financial soundness requirements will create hardship is not “reasonable grounds” for justifying an exemption from section 45(2) of Board Notice 194 of 2017. Such claims must be […]
“Merely claiming” that compliance with the financial soundness requirements will create hardship is not “reasonable grounds” for justifying an exemption from section 45(2) of Board Notice 194 of 2017. Such claims must be […]
Licensed financial institutions, including FSPs, have until December 15 to verify or update their profile information on the FSCA’s e-portals. However, they might be experiencing some problems in completing this task, because several […]
Licensed financial institutions, including FSPs, have until December 15 to verify or update their profile information on the FSCA’s e-portals. However, they might be experiencing some problems in completing this task, because several […]
The FSCA says it will abide by the Supreme Court of Appeal (SCA) ruling that the Gauteng Division of the High Court erred in September when it ordered the final liquidation of trading […]
South Africa is expected to take remedial steps within 18 months to address the “significant weaknesses” in parts of the country’s system to combat money laundering and the financing of terrorism and weapons […]
The South African Reserve Bank (SARB) has published for public comment another discussion document as it develops a regulatory framework for winding down a failed or failing financial institution. The “Proposed valuation requirements […]
In Allan Gray’s latest Quarterly Commentary, Tamryn Lamb, Allan Gray’s head of retail distribution, distilled some of the points discussed at the asset manager’s 2021 Investment Summit to answer the five key questions […]
The Council for Medical Schemes (CMS) has approved the settlement order that forces the South African Post Office (SAPO) to pay the millions of rands in contributions it deducted from employees’ salaries over […]
The Council for Medical Schemes (CMS) has approved the settlement order that forces the South African Post Office (SAPO) to pay the millions of rands in contributions it deducted from employees’ salaries over […]
The Information Regulator published, on 12 October, its guide on how to use the Promotion of Access to Information Act (PAIA), in each of South Africa’s 11 official languages. The PAIA Guide has […]
