Insurance switching – The devil is in the detail
“Short Term Insurance complaints remain the highest number of complaints received by this Office”. This is the view of Marc Alves of the FAIS Ombud’s office. In a recent FAIS Ombud newsletter he […]
Life insurers top R5 trillion as growth masks rising risk pressures
Strong market performance lifts assets to record highs, but lapses and protection gaps persist beneath the surface.
Breaking News – NHI Bill introduced to Parliament today
One of today’s media tweets read: “The day we have all been waiting for is finally here, the NHI bill is being introduced in Parliament today” – Mkhize #NHI South Africa’s National Health […]
Short term insurance policies – Five causes for invalidation
In a recent media release, the Office of the Ombudsman for Short-Term Insurance (OSTI) highlights some of the things consumers do which might result in the insurer cancelling cover or refusing to pay […]
Microinsurers – Proposed exemption for Credit Life
The FSCA has published the draft exemption for Microinsurers offering Credit Life from Rule 2A.10.1 of the Policyholder Protection Rules which states “A microinsurance policy or a funeral policy may not prescribe that a […]
Microinsurers – Proposed exemption for Credit Life
The FSCA has published the draft exemption for Microinsurers offering Credit Life from Rule 2A.10.1 of the Policyholder Protection Rules which states “A microinsurance policy or a funeral policy may not prescribe that a […]
Social Media – Not just for millennials
“Aside from the controversy it’s found itself in because of its involvement in spreading ‘fake news,’ Facebook is still possibly the most powerful social media platform on Earth”, Johnny Sandquist, owner of Three […]
Calculation of pension payouts – Complexities of transfers and switching
Parties that are aggrieved by decisions of the Pension Funds Adjudicator may lodge appeals with the Financial Services Tribunal. The Financial Sector Regulation Act, 9 of 2017 (“FSR Act”) considers the Pension Funds […]
Sins and taxes – Enforcing tax laws on churches could be problematic
While the legislation that governs tax exemption for religious institutions is robust, enforcing compliance could be difficult, Louis Botha, an associate in Cliffe Dekker Hofmeyr’s (CDH’s) Tax & Exchange Control practice recently mentioned. […]
Corporate Social Investment – A missed opportunity to create shared value
According to a global study of nearly 30 000 respondents by Accenture Strategy, 62 percent of consumers said they would pay more – or even accept a product of lower quality – should the […]
Financial Services Tribunal – New premises and new rules
Background of the Tribunal The Financial Sector Regulation Act 9 of 2017 establishes the independent Financial Services Tribunal in terms of section 219 thereof. The Tribunal replaced the FSB Appeal Board and came […]
Financial Services Tribunal – New premises and new rules
Background of the Tribunal The Financial Sector Regulation Act 9 of 2017 establishes the independent Financial Services Tribunal in terms of section 219 thereof. The Tribunal replaced the FSB Appeal Board and came […]
South African Labour stats – Sharp rise in unemployment rate
The unemployment rate increased from 27,6% in the first quarter of 2019 to 29,0% in the second quarter of 2019. This is as a result of an increase of 455 000 in the number […]
South African Labour stats – Sharp rise in unemployment rate
The unemployment rate increased from 27,6% in the first quarter of 2019 to 29,0% in the second quarter of 2019. This is as a result of an increase of 455 000 in the number […]
Homeowner’s insurance – Beware of wear and tear
In 2018, 58% of complaints considered by the Ombud for Short Term Insurance (OSTI) under homeowner’s insurance related to claims for damage caused by acts of nature. These claims relate primarily to storm […]
Homeowner’s insurance – Beware of wear and tear
In 2018, 58% of complaints considered by the Ombud for Short Term Insurance (OSTI) under homeowner’s insurance related to claims for damage caused by acts of nature. These claims relate primarily to storm […]
Old Mutual Savings and Investment Monitor – Painting a brim picture of South Africans’ money matters
“Tracking trends provides valuable insights into the current and future financial services needs of our customers.” This is one of the objectives of the Old Mutual Savings & Investment Monitor, an annual study […]
Retirement – Guide your client to retire comfortably
Most South Africans can’t afford to retire. The fact is that the majority rely heavily on income from a salary because their pension income is insufficient to support them. According to the 2019 […]
