Public Protector’s flawed Report – FSCA awarded judgement
The High Court of South Africa provided its judgement on “The Report” of the Public Protector, No. 46 of 2018/19, dated 28 March 2019, last week. This follows a complaint by the Economic […]
CMS steps in as Discovery Health begins recovering pharmacy overpayments
Discovery Health is engaging affected members individually after a processing error led to some pharmacy claims being paid beyond Above Threshold Benefit limits during 2025.
Early happy hour while working from home not allowed
It was found that 1 in 3 Americans (32%) are drinking alcohol while working from home during the current COVID-19 lockdown, according to a new study. One wonders what the South African statistics […]
The insured, the uninsured and the not-so-insured
Various statistics in the past years have indicated that millions of passenger cars on South African roads are not insured. A year ago, the Automobile Association reported that only 3 in 10 vehicles […]
Insurance fraud – Broker gets seven year prison sentence
“Following years of delaying tactics by the accused, designed to avoid prosecution, an insurance broker has been sentenced to seven years imprisonment for insurance fraud and related crimes,” the Insurance Crime Bureau (SAICB) recently […]
Investments – Are all money markets equal?
“Money market funds offer a useful parking bay for investors’ cash allocations, allowing you to earn better returns than bank rates with good liquidity. But when it comes to picking money market funds, […]
World Financial Planning Day – Tips to build a lasting legacy
In the spirit of World Financial Planning Day that was celebrated last Wednesday, Noluyolo Betela, client relationship manager at Allan Gray, shared strategies and plans that everyone can put in place to help […]
FSCA publishes various Conduct Standards – Now open for comment
Last week was a busy week at the FSCA office with the publication of four different Conduct Standards. Interested parties are invited to submit comment. ● FSCA Communication 49 of 2020 (RF) Publication […]
Momentum’s 2019 Life Insurance claims statistics – Increase of 30% in claims paid
At its 2020 Risk Summit, Momentum Life Insurance shared the latest claims statistics. The 2019 claims pay-outs were the highest to date at R4.6bn. The 2019 pay-outs were made up of R3.3bn in […]
Annual death claim benefit statistics – Beneficiaries receive almost R17 billion
The 2019 annual death claim benefit statistics for fully underwritten individual life policies, released last week by the Association for Savings and Investment South Africa (ASISA), show that life insurers received 27 547 claims […]
Annual death claim benefit statistics – Beneficiaries receive almost R17 billion
The 2019 annual death claim benefit statistics for fully underwritten individual life policies, released last week by the Association for Savings and Investment South Africa (ASISA), show that life insurers received 27 547 claims […]
Still need to write the RE in 2020? – There is very little time and opportunity left
Failure to complete the compulsory Regulatory Exams by the due date means that you are no longer fit and proper. Your employer has no option but to terminate your employment, either by removing […]
The pros and cons of AI
As South Africa emerges from what is proving to be one of the most stringent of lockdowns globally, advisers are faced with a number of challenges. Technology changes and a contracting economy add […]
The pros and cons of AI
As South Africa emerges from what is proving to be one of the most stringent of lockdowns globally, advisers are faced with a number of challenges. Technology changes and a contracting economy add […]
Class of Business Training – What if you do not comply on 15 December?
As a result of the impact of COVID-19 on the financial services industry, several relaxations to regulatory and filing deadlines considering the challenges that regulated entities may face in these trying times, were […]
Missed a premium payment? – Here is what you and your client should know
In the wake of the pandemic lockdown, many short-term policyholders find themselves in a financial predicament and unable to pay their insurance premiums. The latest Short-term Ombudsman (OSTI) Briefcase discusses various options available […]
Consumer credit market – Q2 2020 shows Lockdown impact on industry
The findings of the TransUnion Industry Insights Report, which looks at the South African credit market across three dimensions among credit products, originations, balances and delinquencies, confirm that consumers are having to prioritise […]
Policy wording at claims time – OSTI case studies showcase importance
The importance of policy wording was underlined again in the UK’s comprehensive High Court analysis of 21 samples in coverage extensions for business-interruption COVID-19 related losses recently. At times the hearing sounded more a […]
