Bonitas plans to ‘return’ up to R700m in reserves to members
The medical scheme says it will use its reserves to limit contribution increases, while possibly improving members’ benefits and reducing co-payments.
claims
Medihelp’s solvency ratio drops below threshold amid high claims and rising costs
Medihelp submitted a CMS-approved three-year plan, requiring gradual contribution increases to restore its reserves to the statutory 25% level.
Short-term insurers with the most and the least complaints in 2023
The important statistic is the proportion of personal lines complaints relative to an insurer’s share of the total personal lines claims.
Insurers push for trackers as theft of high-end vehicles surges
According to the latest SAPS crime statistics, there were 5 973 carjackings in the fourth quarter of 2023.
Why young South Africans can’t afford to skip insurance
During National Youth Month, Marius Kemp from Santam emphasises the importance of insurance for young people, who often lack emergency savings.
Eastern Cape floods: Santam receives more than 250 claims
The number of claims is expected to rise, and storm-hit policyholders in KwaZulu-Natal will also be filing claims.
Discovery Life’s claims report: ancillary benefits dominate payouts
Life insurance payouts rose in 2023, while Covid-19 claims fell sharply, indicating the virus’s shift from pandemic to endemic status.
Increase in Discovery’s cancer claim payouts – and screening rates have recovered
Claims for cancer treatment and maintenance therapy rose by almost 8% in 2023.
Medical schemes that grew their membership by 5% or more in 2022
Preliminary data released by the Council for Medical Schemes highlights key trends in the industry last year.
Loadshedding takes centre stage in SA’s risk landscape
Loadshedding has surged to the forefront of insurance concerns, eclipsing traditional threats such as fire and theft, according to Santam’s 2023 Insurance Barometer.
Sasria wants an explicit guarantee that the state will be its reinsurer of last resort
The reinsurance market will remain hard for the foreseeable future, and most reinsurers believe another July 2021 is just around the corner, says chief executive.
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.
Discovery and RAF see latest High Court judgment differently
The High Court has dismissed the administrator’s second attempt to compel the Fund to resume processing medical scheme members’ claims.
CMS weighs in on Discovery’s dispute with RAF over members’ claims
The Road Accident Fund’s directive is not in line with the Medical Schemes Act, the regulator says.
Health Squared’s liquidators call for submission of claims
The claim form, together with supporting documentation, must be delivered to the liquidators’ office in Pretoria.
Director’s passport blocked amid efforts to recover Classic’s assets
Claim documents have been sent to creditors as the provisional liquidators take steps to recover assets and secure funds held in the name of Classic Financial Services One.
Proceed carefully: damages resulting from scams are not covered
An insurance provider advises caution following a surge in the trade in counterfeit luxury goods.
