Sanlam notes uptick in sickness, disability claims among younger South Africans
The total value of claims in 2022 was 23% lower than in 2021, partially because of a marked decrease in Covid-related claims.
The applicant only became aware in May last year that the decision to debar her constituted administrative action.
Read moreThe total value of claims in 2022 was 23% lower than in 2021, partially because of a marked decrease in Covid-related claims.
The important statistic is the proportion of personal lines complaints relative to an insurer’s share of the total personal lines claims.
It will decide by the end of the month whether to reintroduce the exclusion.
Statistics indicate a rise in income protection claims resulting from diagnoses for mental and behavioural disorders.
What policyholders should know about the general exclusion for damage caused by electricity grid failure or interruption.
Do their highly conservative investment strategies pose a threat to their long-term sustainability?
AIG rejected claims by aviation companies whose operations at different premises were impacted by the lockdown and Covid-19.
Policyholders and beneficiaries receive claims and benefits payments worth R578 billion in 2022, the second-highest paid in a year.
These risks will significantly affect those who don’t have the right cover in place or no cover at all, says Old Mutual Insure.
Another year of high pay-outs following Covid in 2020 and the unrest in 2021.
Financial services group red-flags higher-than-expected policyholder withdrawals.
BrightRock paid out over a billion rand in claims in 2022, which was more than the total claims paid in its first seven years in the market.
Medical schemes and administrators now know whether they can continue to claim from the RAF on behalf of their members.
Another trend is the marked increase in death claims due to heart conditions and cancer.
These include delays with funeral policy claims, advice to clients who buy living annuities, and insurance policy disclosures.
Statistics indicate that 42% of South Africans had funeral cover in 2021, down from 53% in 2019. This is surprising considering that the pandemic increased claims, as well as people’s fear of death, the world over and significantly impacted the funeral insurance market and the claims environment.