The proposed reforms could require significant operational changes for insurers, but industry experts believe they address only part of the problem.
Insurance fraud is a world-wide phenomenon, especially during times of economic collapse. The Insurance Council of New Zealand (ICNZ) launched its own fraud bureau last year, and, according to its 2019 data, $688 […]
The problem with unclaimed benefits is decades old. Each year various statistical reports add up the billions and initiatives are launched to track the beneficiaries of the unclaimed funds. Will the latest drive […]
Research shows that those who exercise regularly earn more than those who don’t. According to Sydney Mbhele, CEO: Brand at Sanlam, the lead sponsor of the Sanlam Cape Town Marathon, the myriad physical […]
Research shows that those who exercise regularly earn more than those who don’t. According to Sydney Mbhele, CEO: Brand at Sanlam, the lead sponsor of the Sanlam Cape Town Marathon, the myriad physical […]
Gross Domestic Product (GDP) results are the worst we have seen in over a century, and a decline of 51% for the second quarter of 2020 underlines just how tough times are. The […]
Towards the end of July 2020, National Treasury published the Draft Taxation Laws Amendment Bill, 2020. One of the proposals relates to an overhaul of the rule for taking retirement funds abroad. In […]
Finding purchases or transactions on your bank statements that you cannot explain? Receiving credit cards or statements for accounts that you never applied for? Denied credit for a purchase, even though your credit […]
Did you know that your “on the job training” and years of experience in handling claims can now lead to you obtaining a formal, recognised qualification? Recognition of Prior Learning (RPL) is the […]
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 […]
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 […]
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 […]
“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 […]
“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, […]
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 […]
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 […]
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 […]
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 […]
