Crypto transfers: new client information requirements coming for CASPs and intermediaries

The ‘travel rule’ means CASPs and FSPs cannot initiate a crypto asset transfer unless they can transmit prescribed information.

Asisa urges policyholders to explore all options before giving up their risk cover

Statistics for the first half of 2023 show a high number of lapses and surrenders as consumers are squeezed by the cost of living.

Health insurance benefit increases for 2023 published

The annual benefit escalations for policies that fall under the Demarcation Regulations.

Asisa red-flags high number of policy surrenders and lapses

Policyholders and beneficiaries receive claims and benefits payments worth R578 billion in 2022, the second-highest paid in a year.

Timeline for implementing NHI is ‘years to decades’, says health department’s deputy D-G

The Department of Health’s timeline for the full implementation of National Health Insurance (NHI) was “years to decades”, Dr Nicholas Crisp, the deputy director general in the department responsible for the implementation of […]

Benefit increases for health insurance policies

National Treasury has published the benefit increases for health insurance policies that fall under the Long-term Insurance Act (LTIA) and Short-term Insurance Act (STIA) in terms of the Demarcation Regulations. The 2016 regulations […]

Low Cost Benefit Options and Demarcation – CMS provides further extension

Earlier this year the Council for Medical Schemes (CMS) responded to various protests from the healthcare industry, as well as appeals by insurers, by announcing the appointment of two advisory committees to engage […]

Low Cost Benefit Options and Demarcation – CMS provides further extension

Pension Benefits – Permissible deductions where fraud is alleged

A recent determination by the Financial Services Tribunal concerned the PFA’s order to release withdrawal benefits to employees. The employer challenged this decision as it originally withheld the benefits based on a disciplinary […]

Scrapping of Low-Cost Benefit Options – FIA strongly opposes the decision

The Financial Intermediaries Association (FIA) also responded to the announcement of the Council for Medical Schemes (CMS) prohibiting South African medical aids from offering Low-Cost Benefit Options (LCBO) to low-income market segments. The […]

Unclaimed retirement benefits – The dust should not settle

In May 2019, Rosemary Lightbody, the senior policy adviser at ASISA, indicated that despite the efforts already made by member companies, it is estimated that unclaimed assets worth R17.1 billion held in 147 221 products […]

Unclaimed retirement benefits – The dust should not settle

Death Benefits – To be a dependant or not?

Section 37C of the Pension Funds Act 24 of 1956 governs the distribution and payment of lump sum benefits payable on the death of a member of a pension fund, provident fund, pension […]

Finding Your Niche – Benefits of focused marketing

Having a niche market means that you’re targeting a specific section of your available clients. “A niche is more than just a target market, it’s about positioning yourself and your firm to attract […]

Unclaimed policy benefits – ASISA members using tracing activities to honour claims

ASISA’s members united policyholders, beneficiaries, investors & heirs with unclaimed assets of R8.1bn last year. According to a recent ASISA news release, unclaimed assets of R17.1bn remain, but members will honour claims no […]

Compliance audit on credit life insurance policies

Since the publication of the final credit life insurance regulations (the Regulations) that came into effect on 10 August 2017, Moonstone received numerous queries relating to the compliance requirements imposed by the Regulations. In the […]