SASRIA can absorb a catastrophe claim of up to R20bn
The state-owned insurer says it is on track to reach R30bn in reserves by 2029 – but emerging risks could still put its resilience to the test.
#annualreport
Tax Ombud’s 10 top refunds total R167m
Requiring SARS to provide written reasons when it rejects the OTO’s recommendations has resulted in an increase in the resolution of complaints.
CMS: No complaints about brokers’ conduct in 2024/25
The Council for Medical Schemes’ latest annual report shows a decline in registered complaints – continuing a three-year downward trajectory.
CMS research points to urgent need for chronic disease and cost-of-care reforms
Two new CMS studies highlight the growing strain of chronic diseases and soaring out-of-pocket healthcare costs.
Move to two-pot system drives jump in complaints to the Adjudicator
Outgoing Adjudicator Muvhango Lukhaimane says the system has laid bare long-standing non-compliance with section 13A of the Pension Funds Act.
COFI will redefine the OPFA’s role and scope
Expanding the Office’s mandate to include disputes involving advice will enhance member protection, but there are concerns over jurisdictional overlaps and operational costs.
Discovery members ‘make the Smart move’, while KeyCare loses ground
The decline in KeyCare Plus membership reflects a reduction in employer subsidies and fewer mandates for medical scheme membership, DHMS says.
Consumers caught in hidden debt trap as ombud flags unfair practices
From hidden VAS fees that quietly inflated balances to wrongful fraud listings, the NFO Credit Division’s interventions have secured millions in write-offs.
Bestmed marks sixth year of membership growth
Despite economic headwinds and high claims ratios, Bestmed grew net membership by 4.4% in 2024, bolstered by strong solvency and a R164.4m surplus.
Non-life complaints resolved in favour of policyholders at 16.5%
Lead Ombud Edite Teixeira-Mckinon warns against drawing hasty conclusions about complaints stats without factoring in claims volumes and policy counts.
NFO’s Life Division recovers over R202m for consumers in 2024
Complaints about life-benefit payouts climbed to 36% of the Division’s cases, from 34% in 2023.
FAIS Ombud’s report highlights pitfalls in client communication
From misrepresented investment products to overlooked policy details, the cases show how advisers can better serve clients by providing clear, timely, and relevant information.
Consumer settlements rise as FAIS Ombud sharpens complaint handling
More than R39m awarded to consumers as complaints settled in their favour increased from 29% to 35% in 2023/24.
Regulator pushes for tougher PAIA enforcement to combat low compliance
Key proposed amendments include imposing fines for non-compliance, enhancing the Information Regulator’s authority to issue directives, and introducing search-and-seizure powers.
Ombud Council’s first formally tabled report highlights reforms in financial dispute resolution
Key achievements include the creation of the National Financial Ombud Scheme and the new FAIS Ombud Rules.
Rise in complaints about medical schemes clawing back losses allegedly linked to fraud and waste
Schemes and healthcare professionals are at odds over whether these recoveries are justified, says the Council for Medical Schemes.
FIC cracks down on non-compliant accountable institutions
The FIC’s latest annual report shows that out of 558 inspections conducted during the year, 269 specifically targeted the non-submission of risk and compliance returns.
