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Short-term Shortcuts

New Ombud’s Briefcase

The OSTI Briefcase issue 3 of 2016 contains a number of interesting case studies, including:

  • The rejection of a claim for accidental damage on the ground that the person riding the motorcycle at the time that the damage occurred was not a named rider on the policy
  • Rejection of a claim under an insurance travel policy
  • Late notification of a third party claim
  • Rejection of a claim on the grounds that the insurer had not supplied the claimant with policy documents containing the relevant exclusions.

It is important to note the following introduction to the newsletter:

Please note that each matter is dealt with on its own merits and no precedent is created by the findings in these matters. The case studies are intended to provide guidance and insight into the manner in which OSTI deals with complaints.

FAIS Ombud newsletter

Edition 11 of Under the Boabab, contains details of settlements reached between short-term FSPs and clients after initial rejection by the insurer.

Of particular interest is one case where a complaint was laid on the basis that the FSP should have ensured that the total amount financed was covered, and not only the vehicle.

A reader recently raised another question which may well be worth discussing.

“What should I insure a vehicle for, when there is a cash kickback of say R25 000?”

What say ye?

Saxum Liquidators Appointed

The liquidators for Saxum Insurance Limited (Saxum) have been appointed by the Master of the High Court. All queries relating to the liquidation process and outstanding claims owing by Saxum can be referred to:

  1. Ms Sumaiya Khammissa, 082 551 6610 or estates@khammissa.co.za or

Mr Harry Kaplan, (011) 656 3660/1/2 or jeanette@cktrust.co.za

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